Binghatti announces ambitious plan for 12 new projects

Binghatti Developers has announced the launch of 12 new real estate projects in the second half of 2024, with a combined investment of over AED 10 billion (approximately $2.72 billion).

Muhammad Binghatti, CEO of Binghatti Developers, confirmed that their ongoing projects are progressing smoothly, driven by high demand and strong sales performance. The Mercedes Benz Places‘ project has achieved over 90% sales, while the Burj Bingahtti Jacob & Co. Residences project has reached over 50% in sales.

Binghatti emphasised Dubai’s real estate market’s appeal to investors and buyers from various nationalities, citing the ease of doing business and rental returns of at least 7-8% as key factors.

Strategic Partnership with Dubai Land Department

Binghatti Developers has signed a strategic agreement with the Dubai Land Department (DLD) to support the ‘Dubai Real Estate Broker Programme.’

Their partnership with the DLD aligns with their objectives to enhance integration between the private and public sectors and contribute to the goals of the Dubai Real Estate Broker Programme, said Binghatti.

Empowering Emiratis in Real Estate

The CEO also revealed plans to launch initiatives aimed at increasing Emirati involvement as buyers, brokers, and employees. A specialised real estate academy is set to be established within a year to provide focused training.

The ‘Dubai Real Estate Broker Programme’ seeks to boost Emirati participation in the real estate sector through job opportunities and skill development. Binghatti Developers will offer discounts to Emirati investors and flexible payment plans for brokers to enhance their sales and commissions.

The partnership between Binghatti Developers and DLD aims to elevate Emirati competitiveness and fill sector jobs through support projects, employment opportunities, and guidance on qualifying for private sector roles. Both entities will collaborate on initiatives to foster the development of Dubai’s real estate industry and promote a culture of innovation.

Original article reference: Arabian Business.

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