Binghatti Developers have announced plans to launch 12 new real estate projects in the latter half of 2024, representing an investment of over AED 10B (approximately $2,722,563,000).
Muhammad BinGhatti, CEO of Binghatti Developers, mentioned that current projects are progressing as planned, with strong demand and healthy sales.
Sales for the ‘Mercedes Benz Places – Binghatti‘ project have surpassed 90 percent, while the ‘Jacob & Co Residences‘ project has achieved over 50 percent in sales.
BinGhatti also noted that Dubai’s real estate market has become appealing to investors and buyers from various nationalities due to the ease of doing business and achieving rental returns of at least 7-8 percent.
Strategic Partnership
The developer has signed a strategic agreement with the Dubai Land Department to support the ‘Dubai Real Estate Broker Program’.
“Our partnership with the DLD aligns with our goals of enhancing integration between the private and public sectors, and contributing to the objectives of the Dubai Real Estate Broker Program,” he said.
The CEO also revealed plans to launch initiatives aimed at increasing Emirati participation as buyers, brokers, and employees. Additionally, there are plans to establish a real estate academy specialising in training within a year.
The ‘Dubai Real Estate Broker Program‘ aims to boost Emirati involvement in the crucial real estate sector by providing job opportunities and skills development.
The developers will offer discounts to Emirati investors and flexible payment plans for brokers to enhance their sales and commissions.
The agreement between Binghatti Developers and DLD aims to improve Emirati competitiveness and fill sector jobs through support projects, employment opportunities, and guidance on qualifying for private sector roles.
Both parties will collaborate on initiatives to advance the real estate industry and foster a culture of innovation in Dubai.
