Binghatti Developers’ new $8.2 billion Mercedes-Benz branded project in Dubai will have more than 13,000 units, with the starting price of Dh1.6 million ($435,600) for a studio and Dh2.6 million for a one-bedroom unit, its chief executive said.
The Mercedes-Benz Places – Binghatti City being built at Nad Al Sheba will also offer two-bedroom and three-bedroom units at a starting price of Dh3 million and Dh5 million, respectively.
“We are targeting a larger segment of client types, and that's why we did smaller units, medium-sized units and larger units,” Muhammad Binghatti, chairman of Binghatti Developers, said during a press conference on Wednesday.
The company is targeting end users as well as investors with the latest development, which covers 10 million square feet (929,000 square metres) near Meydan. It is expected to be completed in three and half years.
The project will have 12 towers with 6,321 studios, 4,963 one-bedroom units and 1,653 two-bedroom homes. It will also have 431 three-bedroom units and 18 four-bedroom and five-bedroom homes.
“It's for people who are looking for an asset to hold and appreciate in the future, just like a car collector would buy a car, and at the same time, we really wanted to target end users here, because that's what the Mercedes-Benz experience is about, and I think that's what interests most people here,” Mr Binghatti said.
It is Binghatti’s second collaboration with the German car manufacturer after the 65-storey residential tower unveiled in Downtown Dubai in 2024. The new project will be funded through its own equity.
Mr Binghatti said the Dubai market is going to be stable this year and there will not be “any slowdown”.
“I don't foresee any surprises, I don't see any drops or surges in terms of price points,” he told The National on the sidelines of the media briefing.
“We see a continuous population growth, so the demand will continue, and at the same time, we have a scarcity of land. So, to find very good land in Dubai is not as easy as it used to be before, and I think any land you do find as a developer is much more expensive. So what that's going to do is obviously inherently limit supply.”
The property market in Dubai has benefitted from government initiatives such as residency permits for retired and remote workers, expansion of the 10-year golden visa programme and overall growth in the UAE’s economy on diversification efforts.
The volume and value of property transactions in Dubai hit a record high in 2025 amid the entry of nearly 130,000 new investors, government data showed.
The number of transactions reached more than 270,000, up 20 per cent on 2024, while the value of these transactions rose 20 per cent year-on-year to Dh917 billion, the Dubai Media Office said this week, quoting figures from the Dubai Land Department.
This year, Binghatti aims to surpass 2025's sales worth Dh26 billion amid launches and continued demand for property, its chairman said.
It is also looking to enter Abu Dhabi and launch a new project this year.
“Our main focus right now is Dubai. I think the next in line is definitely Abu Dhabi. It’s the next interesting market for us, and we're very serious about it.”
The developer has no plans at present to go public and “we're just performing as a company – business as usual,” Mr Binghatti said.
