UAE – Mubahser: Binghatti Holding Limited has acquired freehold land with more than 8 million square feet of gross floor area to develop its first large-scale master-planned residential community in the Emirate.
Located in Nad Al Sheba 1, the project is expected to have a total development value exceeding AED 25 billion, according to a press release.
The Chairman of Binghatti, Muhammad BinGhatti, said: “The planned new mega project would build on the strong momentum of our vertically integrated model, which has consistently enabled us to deliver distinctive, high-quality properties ahead of schedule.”
“Our solid financial foundation has allowed us to self-fund the acquisition of the land for what is expected to be a transformative project that will set a new benchmark for integrated living in Dubai,” he added.
Dubai’s leading developer recently penned an agreement with Abu Dhabi Islamic Bank (ADIB) to introduce Sharia-compliant home-financing solutions for its customers.
