Muhammad Bighatti, CEO, Binghatti Developers Image Credit: Supplied

Binghatti Developers, the leading developer of affordable housing projects has announced the launch of the Binghatti Canal in the Business Bay area, in Dubai.

The Dhs500 million Binghatti Canal project will be completed in June 2023.

The announcement came during a huge celebration at Grand Hyatt Hotel in the presence of a large number of their management team, main partners, investors and customers looking for buying housing units in the company's latest real estate projects.

The residential project, Binghatti Canal, consists of 300 units, including 124 one- bedroom, 85 two-bedroom apartments, in addition to 84 studios, all are overlooking the most luxurious waterfront destinations in the Business Bay area with direct views of the center of the city of Dubai.

“We are pleased to add our 50th project in the company’s portfolio in the UAE, which will be a new shift in our real estate journey,” said Muhammad Bighatti, CEO, Binghatti Developers. “This innovative project, which will be constructed in one of the most prosperous areas of Dubai, is one of our many achievements for this year,” he added.

“The project will be unique in terms of creativity and luxury, as it contains elegant and practical apartments designed in an exclusive contemporary style in classic designs with wonderful views of the Dubai Water Canal. The high standards of privacy and security add to its excellence,” he said.

"Our smart homes provide comfort and the highest standards of security in a modern and luxurious lifestyle with high- tech solutions that facilitate the customers’ lifestyle, especially with the integration of the virtual assistant system (Alexa) to facilitate daily household tasks," he said.

The apartments in the Binghatti Canal project with their comfort and luxury, the interior design of the spaces that offers a perfect balance between practical design and high technology, make it the ideal destination.

The CEO indicated that the company offers the new generation of real estate that includes smart systems in its projects without any additional cost. They succeeded in launching a local real estate brand famous for visual identity and have delivered about 25 towers in Dubai Silicon Oasis, 3 towers in Dubailand, 3 towers in the Al Jaddaf area, and two towers in the Business Bay area.

He noted that Binghatti Developer's plans focus on becoming global, while maintaining its competitiveness among the leading real estate developers in the Dubai market, which is full of attractive opportunities.

He revealed that the real estate market is on the trajectory of strong prosperity amid the recovery of the local economy, expecting this recovery to continue, thanks to the UAE rational leadership and the new residency and citizenship regulations.

Binghatti confirmed that the company is the fastest real estate developer in Dubai in terms of handing over, as projects are delivered ahead of schedule. He praised the Dubai positive economic climate and the huge opportunities it provides to national and foreign investors.

The CEO stated that the company offered a discount of Dhs300,000 on any unit in “Binghatti Canal” in a one-day only offer, which is the same day of launching the project, while the providing flexible and attractive payment plans, which make the project an ideal option for investment.

The project includes units of different areas, as the unit spaces start from 93.09 square feet to 448.66 square feet, in addition to areas of 769.79 square feet, 778.66 square feet, and other units ranging from 234.19 square feet to 1377, 57 square feet.