Inayat-ur-Rahman, Deputy Business Editor
Dubai has become a global centre for unique architectural designs, a portrait that dazzles its visitors of all nationalities, being the preferred place to live, work, and invest for many individuals around the world.
Dubai imposed great challenge and competition rules among real estate developers when it comes to the need to take into account the technical aspect in design and planning, while seeking to enhance its reputation as a hub of entertainment and luxury.
Muhammad Binghatti, CEO, Binghatti Developers told Gulf Today that the construction boom in Dubai introduced architectural methods that conveyed various cultural experiences and established architectural concepts that are compatible with the visions of a modern city in harmony with the life of the Arab people.
He pointed out that the designs in general take into account the Emirati heritage, which adds authenticity to real estate installations and re-edit history once more.
Commenting on the architectural boom led by "Binghatti Developers,” the CEO said: "Binghatti's designs focus on luxury, providing comfort, distinction, and opulence. The company was erected on artistic and aesthetic grounds that revolt the concept of real estate in the region as a whole, so as to merge technical outlook with investment."
He pointed to the high competition among real estate developers in Dubai, amid the pursuit of new areas of innovation in attractive designs, and the city is full of architectural icons that catch the eyes at first glance.
Binghatti added that the company's strategy focuses on choosing the best locations to set up their projects .They focus on attracting the middle class, which is the largest category in the real estate market, in addition to their commitment to provide high quality, reasonable prices, and timely delivery.
Binghatti commits to affirming the continuation of this approach of preserving the artistic touch in their properties, while providing all means of comfort and entertainment to buyers, at competitive prices.
The CEO indicated that the company's projects gain the confidence of major financial institutions and their real estate portfolios. This confirms the attractive investment opportunities preferred by these institutions.
Muhammad Binghatti said that the company provides the investor with many privileges, the most important of which is the guaranteed rental return. The projects location, as well as the "value of investment" due to discounts and market-friendly prices, attract many buyers.
“Our commitment to handing over on schedule is a priority, and this is a well-known fact reinforced by timely deliveries for all Binghatti's previous projects. Our endeavor to redefine the standards of the real estate sector by providing high-quality projects at reasonable prices at the right time is our claim to fame," Binghatti concluded.
The top three transactions were a land in Palm Jumeirah sold for Dhs 22.5 million, followed by a land that was sold for Dhs 18.67 million in Jumeirah First, and a land sold for Dhs 22.5 million in Palm Jumeirah in third place.
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A total of 3,164 real estate transactions worth Dhs8.6 billion were conducted during the week ending 24th March, 2023, according to figures released by the Dubai Land Department (DLD).