In an innovative partnership, Binghatti Properties and Mercedes Benz have revealed plans for an extraordinary Billion dollar residential tower in Dubai, according to reports. This innovative initiative harmonizes the competence of a well-established real estate developer with the luxury and inventive spirit associated with the Mercedes-Benz brand.
The tower promises a refined fusion of architectural elegance and automotive-inspired design, embodying the zenith of luxury. With cutting-edge amenities and an unmatched commitment to precision, this company aims to redefine the concept of luxury living in Dubai.
The collaboration symbolizes the coming together of two industry pioneers, laying the foundation for a significant development that surpasses benchmarks of conventional residential magnificence.
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- What has Binghatti Mercedes-Benz recently launched in Dubai?
- How is the residential tower being built and what are its characteristics?
- Significant demand
What has Binghatti Mercedes-Benz recently launched in Dubai?
#Dubailuxury developer based in @Binghatti The properties on Wednesday launched a new billion-dollar branded residence in #Centerwhich houses duplex and triplex apartments. The Mercedes-Benz Place l Binghatti super-luxury project, launched in partnership with the German luxury car manufacturer… pic.twitter.com/4dDutTlE9Z
– Khaleej Times (@khaleejtimes) January 25, 2024
On Wednesday, Dubai-based luxury property developer Binghatti Properties unveiled a new Billion dollar residential project downtownreported Khaleej Times. This luxury development, Mercedes-Benz Squarecreated in collaboration with the renowned German luxury car manufacturer Mercedes-Benz, it will feature duplex and triplex apartments.
Located on one of the limited remaining plots in the highly sought after Dubai Downtown Area, the 65-storey tower will house 150 apartments, with prices starting at Dh10 million. The ambitious project is scheduled to be completed in the fourth quarter of 2026, the report reveals.
How is the residential tower being built and what are its characteristics?
The residence will encompass two, three and four-bedroom units and five-bedroom penthouses along with duplex and triplex apartments. The two-bedroom floor will house only four suites, while the three-bedroom unit floor will have only three. Additionally, each floor will have only two five-bedroom penthouses.
Standing at 341 meters tall, the tower will provide residents with a variety of amenities, including restaurants, sports and wellness areas, lounges, non-automotive commercial spaces, exhibition areas and parking facilities.
Completion of the ambitious project is scheduled for the fourth quarter of 2026 | Image: Binghatti
Mercedes-Benz Square will incorporate electric vehicle charging, smart mobility applications, ride-sharing services, bike and scooter sharing, chauffeur services and automated valet parking. It should be noted that each unit will come equipped with its private pool.
The duplex residences will feature six bedrooms and exclusive amenities such as a private gym and office. On the other hand, the triplex units, which will span three floors, will offer a private gym, cinema, spa and other amenities.
The promoter has incorporated photovoltaic technology widely on building facade, with the aim of producing electricity to charge electric vehicles within the structure. Muhammad Binghatti, CEO of Binghatti Properties, mentioned in an interview Wednesday that the expansive façade, which covers 75,000 square feet, is designed to generate power capable of charging 40 electric vehicles daily.
This translates into a total of 20,000 kilometers of carbon-free travel. Binghatti Mercedes-Benz Place is the developer’s latest foray into branded residences, following projects such as Bugatti Residences by Binghatti and Burj Binghatti Jacob & Co.
Significant demand
The billion-dollar development will have unobstructed views of the world’s tallest tower, Burj Khalifa | Image: Binghatti
Muhammad Binghatti, CEO of Binghatti Properties, revealed that the triplex units, which are exclusive and unlisted, are not yet priced. Despite this, there has been considerable interest and the soft launch has already seen the sales team successfully close deals. The CEO expressed confidence in the project’s success, stating, “I think we will soon sell out.”
According to The National, half of the brand’s project was, in fact, sold out one day after launch.
Muhammad Binghatti further explained that there is significant demand from clients seeking trophy assets, similar to collectors of valuable items such as automobiles. Some buyers are end users looking for a luxurious residence, while others see such properties as brilliant investments. Real estate has a unique appeal driven by factors such as yield, capital gains, and the overall potential of these properties. This makes these products very attractive to investors, presenting a lucrative opportunity beyond what can be achieved in the automotive world.
Britta Seeger, member of the board of management of Mercedes-Benz Group AG responsible for marketing and sales, said that Dubai is an ideal place to undertake a branded residence project.
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(Photo: Bloomberg/Khaleej Times)
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Source: vtt.edu.vn