Binghatti Gate
Binghatti Gate is at the 50 per cent level on the construction side. The project costs around Dh150 million. Image Credit: Supplied

Dubai: Binghatti Developers has launched sales at new project in Jumeirah Village Circle, being built for Dh150 million.

The Binghatti Gate will have 132 units, with 84 being one-bedroom apartments. Total built-up will be 250,000 feet. The project has touched the 50 per cent mark.

The company's current pricing policy is nearly on par with secondary market prices, “as there is no significant difference between the prices of our new projects and the secondary market when selling,” said Muhammad Binghatti, CEO.

“We see that the market is on upward trajectory, with strong sigs of the rental market. These factors enforce the market recovery at a time when supply is steady.”

Dubai-focussed portfolio
Binghatti Developers has to date committed Dh3.5 billion into its real estate portfolio. This covers more than 40 projects in Dubai, and locations such as Dubai Marina, Al Jaddaf, Business Bay and Dubai Silicon Oasis.

It also has a commercial project in Abu Dhabi, which covers an area of one million square feet and a build value of more than Dh500 million.