Binghatti Holding, a prominent real estate developer based in Dubai, has announced the acquisition of a freehold land plot that boasts over 8 million square feet of gross floor area. This land will be used to develop the company’s first large-scale master-planned residential community, as stated by the company on Wednesday.

The anticipated value of the development is set to exceed Dhs25 billion (approximately $6.8 billion), positioning it among the largest single-site residential projects in the emirate. The plot is situated in Nad Al Sheba 1, within Dubai’s Meydan district, an area historically associated with equestrian heritage and the former Nad Al Sheba Racecourse.

Muhammad BinGhatti, the chairman of Binghatti Holding, emphasized the significance of this acquisition, stating that it marks a “pivotal moment in Binghatti’s growth journey.” He explained that this new mega project will build on the momentum of their vertically integrated model, which has consistently enabled the company to deliver high-quality properties ahead of schedule. BinGhatti highlighted that the company’s strong financial foundation has allowed for the self-funding of the land acquisition, which is expected to set a new benchmark for integrated living in Dubai.

The future development aims to provide a “refined and tranquil” lifestyle, with its central location and access to major roadways and key landmarks being central to its appeal.

This acquisition represents a significant shift for Binghatti, which has primarily focused on high-rise branded residences, including the Bugatti Residences, Mercedes-Benz Places, and Burj Binghatti Jacob & Co. Residences. Currently, the developer has around 20 000 units under development across approximately 30 projects in sought-after neighborhoods such as Downtown, Business Bay, Jumeirah Village Circle, Al Jaddaf, and Dubai Science Park.

Binghatti has attracted a number of high-profile clients, including football star Neymar Junior and opera legend Andrea Bocelli. Under the leadership of Muhammad BinGhatti, Binghatti Holding manages a portfolio of over 80 projects valued at more than Dhs50 billion. In the last 16 months alone, the company has delivered over 11 000 residential units, which underscores its rapid growth trajectory and strong market presence.