Binghatti Developers to Launch 12 New Projects in 2024: A $2.7 Billion Investment
With big ambitions to start 12 new real estate projects in the second half of 2024, Binghatti Developers announced its plans. The ambitious project is the result of an investment over AED 10 billion, which is approximately $2.7 billion.
Current Project Performance and Consumer Need
As stated by Binghatti Developers CEO Muhammad BinGhatti, strong demand and remarkable sales numbers are driving the company’s ongoing projects forward on time. Sales for the ‘Mercedes Benz Places – Binghatti‘ project have reportedly hit 90%, and sales for the ‘Jacob & Co Residences‘ project have surpassed 50%.
The Appeal of the Real Estate Market in Dubai
BinGhatti emphasized how buyers and investors of different nationalities find Dubai’s real estate market appealing. The simplicity of doing business and the possibility of at least 7-8% rental returns are factors that add to this attraction.
Strategic Cooperation with Department of Dubai Land
– Improving Integration and Reaching Outcomes
The Dubai Land Department (DLD) and Binghatti Developers have inked a strategic partnership to promote the “Dubai Real Estate Broker Program.“ Contributing to the objectives of the program, this collaboration seeks to improve integration between the public and private sectors.
Binghatti Developers will launch programs to increase the number of Emirati employees, brokers, and buyers. A key initiative is establishing a specialized real estate academy within a year, focused on training and development. This academy will offer courses in property management, sales, market analysis, and customer service. The goal is to equip Emiratis with the skills needed to excel in the real estate sector. Through these efforts, Binghatti aims to boost Emirati participation and leadership in Dubai’s real estate market.
Broker Program for Real Estate in Dubai
– Encouraging Emirati Engagement
Dubai Real Estate Broker Program’ aims to increase Emirati employment and skill development in the real estate industry. In order to increase brokers’ income and sales, Binghatti Developers will give discounts to Emirati investors and offer flexible payment schedules.
Increasing Innovation and Competitiveness
Through employment possibilities, support programs, and advice on how to qualify for roles in the private sector, the collaboration between Binghatti Developers and the DLD aims to increase Emirati competitiveness and fill sector jobs. The two sides will work together on projects to develop the property.
Conclusion
Binghatti Developers‘ commitment to launching 12 new projects, worth over $2.7 billion, signifies a robust expansion in Dubai’s real estate landscape. With strategic partnerships and initiatives to boost Emirati involvement, the company is poised to make significant strides in enhancing the market’s appeal and fostering growth and innovation. As Dubai continues to attract global investors, Binghatti Developers stands at the forefront, driving progress and development in the city’s real estate sector.