Binghatti to deliver six projects worth $299m by year-end
Binghatti Developers intends to deliver six projects worth $299m across Dubai by the end of the year, according to a statement from the firm. The developer says that of the six, three projects – Binghatti Crystals, Binghatti Vista and Binghatti Jewels – will be ready by the end of Q2.
The firm said construction was progressing at an accelerated pace across three other projects – Binghatti East and West, Binghatti Sapphires and Binghatti Stars. The projects will offer a variety of residential units including studio, one-, two- and three-bedroom units.
The delivery program of units to customers will be announced soon, the developer said. The firm also added that the projects coming up in Dubai Silicon Oasis are likely to be completed by the end of 2019.
“The parent company, Binghatti Holdings and its real estate investment arm, Binghatti Developers, have put in place a clear and long-term policy based on a commitment to delivering high-quality projects. The policy is also based on providing new standards of real estate excellence to the region, as an embodiment of all the aspects of grandeur and sophistication that Dubai enjoys,” said CEO Muhammad BinGhatti.
Additionally, the developer says it plans to develop between 60 and 70 new real estate projects worth $1.9bn by 2020. Residential developments will make up the largest share of the projects followed by hospitality. Through these investments, Binghatti says it will raise its share of the Dubai property market to 100 projects.
“Based on traditions inspired by the Arab region, its history and culture, we have successfully developed a distinctive visual identity for our communities. I am delighted that many people are already familiar with our dynamic, vibrant and multi-faceted architectural style across the UAE,” he added.