Dubai realty records robust growth

Inayat-ur-Rahman, Business Editor

The Dubai property market is on a solid growth track and is marching ahead due to Expo 2020 and visionary policies of the dynamic leadership of the country.

The Binghatti Developers, a leading real estate development company in the UAE has announced that their latest project, Binghatti Rose, located in the Jumeirah Village Circle, (JVC) was a great success with strong demand, as the entire project was sold out within just hours of launching.

The sales reflect the continued strong demand for premium properties located in prime locations in the Emirate of Dubai.

This was announced by the company during a press conference recently in Dubai.

“Starting sales in the company’s latest projects reflects the continuation of our expansion approach in the Dubai real estate  to meet the needs of our wide client base,” Mohammed Binghatti, CEO, Binghatti Developers said:  “Binghatti Rose is a clear example of the growing demand for low-cost real estate projects in vital areas of Dubai,” he added.

The CEO revealed that the total cost of the project which was fully financed from the company’s cash flows without bank loans, is Dhs200 million.

Mohammed Binghatti added that the real estate sector in Dubai is in very encouraging conditions with strong performance that proves overcoming challenges. This was confirmed by the wide demand for the Binghatti Rose project, and the launch of products tailored to meet customer needs and aspirations.

“The JVC prime location, as one of Dubai’s most vital districts,  help in attracting diverse  buyers wishing to own high-quality properties, enjoy a modern lifestyle and world-class entertainment experience, as well as  quick access to the heart of the emirate,” the CEO said.

He stressed that Binghatti Developers is keen to constantly develop their business strategy to adapt to the economic challenges that arise from time to time, pointing out that the company is currently managing more than 40 projects with investments exceeding Dhs3.5b all over the UAE.