Wikipedia

Binghatti Properties

Binghatti Holding (commonly known as Binghatti) is a private Emirati real estate development company headquartered in Dubai, United Arab Emirates. Founded in 2008 by Dr. Hussain Binghatti, the company operates in real estate, hospitality, and construction sectors, with a portfolio spanning residential and commercial projects across major Dubai areas such as Business Bay, Downtown Dubai, and Dubai Silicon Oasis.

Binghatti
Company typePrivate
IndustryReal estate
Founded2008; 16 years ago (2008) in Dubai, UAE
FounderDr. Hussain Binghatti
Headquarters
Dubai
,
UAE
Key people
  • Muhammad Binghatti
    (Chairman)
  • Ahmed Binghatti
    (Vice-Chairman)
RevenueUS$2 billion (2023)
Number of employees
5000 (2023)
Websitewww.binghatti.com

Overview

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Binghatti was founded by Dr. Hussain Binghatti Aljbori, Muhammad Binghatti and Ahmed Binghatti in 2008.[1][2][3][4]

The company has established real estate projects in Business Bay, Al Jaddaf, Downtown Dubai, Dubai Silicon Oasis, Jumeirah Village Circle, Liwan, and Dubai Residential Complex with an investment value of more than DH 40 billion.[5]

History

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Founded in 2008, Binghatti has grown to establish numerous residential and commercial projects within Dubai. The company is noted for its architectural designs and partnerships with luxury brands.

Partnerships and Acquisitions

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Binghatti has entered several high-profile agreements over the years:

  • In 2014, the company sold the Binghatti Terraces tower in Dubai Silicon Oasis to Emirates Real Estate Fund, managed by Emirates NBD.
  • In 2018, Binghatti collaborated with Izdihar Real-Estate Fund in a deal valued at AED 200 million, acquiring two towers, Binghatti Vista and Binghatti Sapphires.
  • The company's 2021 acquisition of the Binghatti Beverages Manufacturing Facility marked its entry into the food and beverage sector.

Recent Developments

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In 2022, Binghatti launched a co-branded skyscraper project with luxury jewelry brand Jacob & Co, and in 2023, they announced the Bugatti Residences, marking their partnership with Bugatti to introduce luxury branded living spaces.

Partnerships and acquisitions

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In 2014, Binghatti entered into an undisclosed deal to sell Binghatti Terraces, a mid-rise tower in Dubai Silicon Oasis to Emirates Real Estate Fund which is managed by the Emirates NBD.[6][7]

In 2018, Binghatti completed an agreement with Izdihar Real-Estate Fund valued at AED 200 million ($54.4m), a fund managed by the Bank of Muscat. The deal comprises the acquisition of two residential towers in Dubai Silicon Oasis; Binghatti Vista and Binghatti Sapphires.[8][9][10]

In 2021, Binghatti completed a deal with a Saudi food company, Almarai valued at AED 215 million ($58.54m), the deal comprises the acquisition of Binghatti Beverages Manufacturing Facility located in Khalifa Industrial Zone, Abu Dhabi.[11][12][13]

In November 2022, Binghatti announced the Burj Binghatti Jacob & Co Residences, the skyscraper co-designed and branded by Jacob & Co.[14][15][16][17][18]

In May 2023, Binghatti announced the Bugatti Residences, the skyscraper co-designed and branded by Bugatti.[19][20]

In January 2024, Binghatti announced the Mercedes-Benz Places, the skyscraper co-desingned and branded by Mercedes-Benz.[21]

References

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  1. ^ "Binghatti: A Visible Force in UAE's Modern Architectural Landscape". Ocean Drive.
  2. ^ "Binghatti Developers Expanding with a vision and mission - Cityscape Kuwait 2015". Kuwait Times. 2015-12-08. Retrieved 2023-06-27.
  3. ^ "Dubai Culture and Arts Authority elected Binghatti Pearls as one of the seven must-see architectural wonders in Dubai". Gulf News. 2022-10-27. Retrieved 2023-06-27.
  4. ^ "How Binghatti's Architectural Masterpieces are Paving the Way for a Bold New Era of Design in the UAE". Vogue Arabia. 2022-11-29. Retrieved 2023-06-27.
  5. ^ "Binghatti launches world's first Bugatti Residences in Dubai". Khaleej Times. Retrieved 2023-06-27.
  6. ^ Anderson, Robert (2016-09-05). "Emirates Real Estate Fund acquires residential property in Dubai's Silicon Oasis | UAE News". Gulf Business. Retrieved 2023-06-27.
  7. ^ Abbas, Waheed. "Dubai's Binghatti Developers to sell property against Bitcoin, Ethereum". Khaleej Times. Retrieved 2023-06-27.
  8. ^ "Dubai's Binghatti sells two residential projects for $54m". Arabian Business. 13 October 2018.
  9. ^ "Dubai's Binghatti sells two towers to Oman REIT for Dhs200m". Gulf Business. 2018-10-14. Retrieved 2023-06-27.
  10. ^ "Izdihar extends GCC footprint with new acquisition in Dubai". Oman Observer. 2018-10-21. Retrieved 2023-06-27.
  11. ^ "Almarai completes $58.5m acquisition of UAE's Binghatti Beverages". Arab News. 2021-11-15. Retrieved 2023-06-27.
  12. ^ Rahman, Fareed (2021-06-02). "Saudi Arabia's Almarai acquires Binghatti's beverage production unit in UAE for Dh215m". The National (Abu Dhabi). Retrieved 2023-06-27.
  13. ^ Joseph, Shilpa Annie (2023-06-27). "Saudi's Almarai acquires Binghatti's beverage production unit in UAE - GCC Business News". www.gccbusinessnews.com. Retrieved 2023-06-27.
  14. ^ "Binghatti, Jacob & Co launches sales of Dubai hyper-tower". Trade Arabia. Retrieved 2023-06-27.
  15. ^ Bardsley, Daniel (2022-11-27). "How Burj Binghatti is set to become the world's tallest residential tower". The National (Abu Dhabi). Retrieved 2023-06-27.
  16. ^ Montanez, Abby (2022-11-09). "Jacob & Co. Is Building a Soaring 100-Story Tower in Dubai That Looks Like a Crystal Crown". Robb Report. Retrieved 2023-06-27.
  17. ^ "Dubai's 'Hypertower' Is The Tallest In The World". Yahoo! Finance. 2022-11-30. Retrieved 2023-06-27.
  18. ^ Tholot, Almas (16 November 2022). "Binghatti breaks ground on the Burj Binghatti – the world's tallest residential tower". MEP Middle East.
  19. ^ "Binghatti launches world's first Bugatti Residences in Dubai". Khaleej Times. Retrieved 2023-06-27.
  20. ^ "Bugatti unveils design for first residential skyscraper". Dezzen. Retrieved 2023-07-23.
  21. ^ "Dubai: Binghatti, Mercedes-Benz launch $1 billion branded residence tower". Khaleej Times. Retrieved 2024-01-25.
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