Dubai's Skyline Revolution: Billion-Dollar Mercedes Tower & the High-Stakes Luxury Game
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Dive into Dubai's real estate revolution with the Mercedes-branded billion-dollar tower, a symbol of opulence and the city's rapid ascent in luxury living.
- Dubai's skyline transforms with the unveiling of the Mercedes-branded billion-dollar tower.
- Binghatti Properties, undeterred by market speculations, eyes a 12-18% price surge and aims to complete 20,000 units in 18 months.
- A fast-paced narrative of opulence, collaborations with Bugatti and jeweler Jacob & Co, and Dubai's relentless ascent in luxury living.
Billion-Dollar Collab: Mercedes x Binghatti's Luxe Skyline
Dubai is a city that is known for its luxurious lifestyle and extravagant architecture. The city has recently unveiled its latest luxury tower, the Mercedes-branded US$1 billion tower, which is being built by Binghatti Properties in a first-of-its-kind tie-up with the German automaker. The tower features 150 apartments starting at $2.7 million, with some apartments costing up to $10 million apiece. The building offers unobstructed views of the world’s tallest tower, Burj Khalifa.
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Panoramic Perches: The $10 Million Views of Burj Khalifa
The Mercedes-branded US$1 billion tower is another high-stakes bet on Dubai’s property market, which has emerged as one of the world’s hottest over the past few years. The project is the latest in a series of branded developments, a pocket of the market that now makes up a big chunk of all apartment sales in the city.
Last year, Binghatti broke ground on a collaboration with Bugatti Automobiles for a project that will make elevators to transport cars to penthouses. The firm is also partnering with jeweler Jacob & Co on a 500-meter tower that’s set to become the world’s tallest residential building.
The Mercedes-branded US$1 billion tower is a testament to the wealth migration coming to Dubai and an increase in the population, which provides room for organic growth in the market. Binghatti Properties is not worried about a possible slowdown, and its CEO Mohammad Binghatti expects prices to climb 12% to 18% this year.
Binghatti's Bold Bet: 20,000 Homes in 18 Months
To be profitable, the developer is set to complete 20,000 units in 18 months, which is twice the number of properties built in the last five years. Binghatti owns a remarkable contracting business with 5,000 employees that handles everything from engineering to construction, resulting in finishing its projects quickly. The majority of its projects are usually completed within 18 months, with luxury developments such as the Mercedes-Benz and the Bugatti towers set to finish in three years.
The Mercedes-branded US$1 billion tower is a part of a larger trend of branded developments in Dubai. These branded developments are a pocket of the market that now makes up a big chunk of all apartment sales in the city. The Mercedes-branded US$1 billion tower is the latest in a series of branded developments that have been popping up in Dubai over the past few years.
Last year, Binghatti broke ground on a tie-up with Bugatti Automobiles on a project that will include elevators to transport cars to penthouses. The firm is also partnering with jeweler Jacob & Co on a 500-meter tower that’s set to become the world’s tallest residential building.
The Mercedes-branded US$1 billion tower is a testament to the wealth migration coming to Dubai and an increase in the population, which provides room for organic growth in the market. Binghatti Properties is not worried about a possible slowdown, and its CEO Mohammad Binghatti expects prices to climb 12% to 18% this year. To cash in, the builder is set to complete 20,000 homes in 18 months, twice the number of properties it built in the last five years. Binghatti owns a contracting business with 5,000 employees handling everything from engineering to construction, enabling it to build quickly. Most of its projects are completed within 18 months, with luxury developments like the Mercedes-Benz and Bugatti towers set to finish in three years.
The Mercedes-branded US$1 billion tower is a part of a larger trend of branded developments in Dubai. These branded developments are a pocket of the market that now makes up a big chunk of all apartment sales in the city. The Mercedes-branded US$1 billion tower is the latest in a series of branded developments that have been popping up in Dubai over the past few years. Last year, Binghatti broke ground on a tie-up with Bugatti Automobiles on a project that will include elevators to transport cars to penthouses. The firm is also partnering with jeweler Jacob & Co on a 500-meter tower that’s set to become the world’s tallest residential building.
The Mercedes-branded US$1 billion tower is a testament to the wealth migration coming to Dubai and an increase in the population, which provides room for organic growth in the market. Binghatti Properties is not worried about a possible slowdown, and its CEO Mohammad Binghatti expects prices to climb 12% to 18% this year. To cash in, the builder is set to complete 20,000 homes in 18 months, twice the number of properties it built in the last five years. Binghatti owns a contracting business with 5,000 employees handling everything from engineering to construction, enabling it to build quickly. Most of its projects are completed within 18 months, with luxury developments like the Mercedes-Benz and Bugatti towers
