Monday 26 August 2019

Binghatti to deliver $299m housing projects by year-end

DUBAI, May 27, 2018

UAE-based Binghatti Developers has announced plans to deliver six projects worth more than Dh1.1 billion ($299 million) located in different parts of Dubai by the year-end, thus marking a major milestone in its execution of the projects.

Binghatti Developers said of these, three projects - Binghatti Crystals, Binghatti Vista and Binghatti Jewels, with a total investment value of Dh600 million - will be ready by the end of the second quarter.

The projects will include a variety of residential units including studios, one-, two- and three-bedroom units. The delivery program of the units will be announced to buyers and owners very soon, said the developer.

Binghatti Developers aims to develop between 60 and 70 real estate projects with an investment value of up to Dh7 billion by 2020 and with the residential sector accounting for the largest share of the projects, followed by hospitality.

With these investments, Binghatti Developers is set to raise its share of the Dubai property market to 100 projects.

On its 2018 projects, the Dubai-based developer said construction was progressing at an accelerated pace across three other projects - Binghatti East and West, Binghatti Sapphires and Binghatti Stars.

The projects, coming up in Dubai Silicon Oasis at an investment of more than Dh500 million, are likely to be completed by the end of 2019.

Commenting on the projects, CEO Muhammad BinGhatti, said: "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," stated BinGhatti, who is also the company's chief of engineering.

"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.-TradeArabia News Service

Tags: housing projects | Binghatti |

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