Binghatti buys legacy Dubai land for Dh25 billion development

For Binghatti, land deal represents one of the biggest new acqusitions

Last updated: May 28, 2025 | 11:58

1 MIN READ

Binghatti's vision of what it wants to create at the prime land it has bought in Meydan district.

Binghatti

Dubai: The Dubai mega-developer Binghatti has bought land in the emirate that would be utilized for a staggering 8 million square feet of gross floor area.

And the anticipated development value? An eye-catching Dh25 billion.

The value of the land buy has not been disclosed, but the developer has said it's self-financed.

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“The land is set to be used for what would be the company’s first large-scale master-planned residential community in the emirate,” said the developer.

The bought land is in Nad Al Sheba 1 within Dubai’s Meydan district. The area was earlier the base for the original Nad Al Sheba Racecourse, the former venue of the iconic Dubai World Cup.

"The acquisition of a mega plot for what is expected be our first master-planned development marks a pivotal moment in Binghatti’s growth journey," said Muhammad BinGhatti, Chairman of BinGhatti Holding.

"The planned new mega project would build on the strong momentum of our vertically integrated model, which has consistently enabled us to deliver distinctive, high-quality properties ahead of schedule.

"Our solid financial foundation has allowed us to self-fund the acquisition of the land for what is expected to be a transformative project that will set a new benchmark for integrated living in Dubai.”

Nearly 20k units

In Dubai, Binghatti has around 20,000 units under development across about 30 projects, including Downtown and Business Bay.

Binghatti ha’s also been quick in bringing out branded residences in collaboration with Bugatti, Mercedes-Benz, and Jacob & Co. Clients include Brazilian football star Neymar Junior and the opera supremo Andrea Bocelli.

Manoj Nair

Manoj Nair, the Gulf News Business Editor, is an expert on property and gold in the UAE and wider region, and these days he is also keeping an eye on stocks as well. Manoj cares a lot for luxury brands and what make them tick, as well as keep close watch on whatever changes the retail industry goes through, whether on the grand scale or incremental. He’s been with Gulf News for 30 years, having started as a Business Reporter. When not into financial journalism, Manoj prefers to see as much of 1950s-1980s Bollywood movies. He reckons the combo is as exciting as it gets, though many will vehemently disagree.

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