Strategic Partnership
Binghatti, a leading Dubai-based developer, has entered into a strategic partnership with Dubai Land Department (DLD) to enhance the role of UAE nationals in the real estate market. DLD Director-General Marwan Bin Khalifa and Binghatti Chairman Muhammad BinGhatti signed the agreement.
This partnership supports the Dubai Real Estate Broker Programme founded by DLD last March. The program strives to integrate public and private sector measures and encourage Emirati agents and investors to partake in real estate transactions, bolstering one of Dubai’s key financial sectors.
Exclusive Offers for Emirati Investors and Agents
Binghatti offers exclusive discounts and flexible 50/50 payment plans for Emirati investors on selected projects as part of this ambition. Further, the developer will provide an extra 1 percent agent fee for transactions made by Emirati agents.
“We are honored to collaborate with DLD and support its mission. This strategic partnership is a significant milestone in our efforts to empower Emirati investors and agents. By fostering inclusivity between private and public sectors, we are strengthening Emirati participation in the real estate market and ensuring Dubai’s thriving, dynamic, and sustainable future,” Binghatti Chairman Muhammad BinGhatti commented.
Empowering Local Talent
This collaboration is one of the multiple enterprises organized by the Government of Dubai’s Land Department to qualify Emirati cadres for the most heightened skills, efficiency, and professionalism. “At Binghatti, we have the honor of working with several exceptional local agents, some of whom have achieved phenomenal performance for our projects. As part of our trusted partners, they have provided us with deeper insight and understanding of Dubai’s dynamic market. Binghatti aspires to become a role model in empowering the youth, especially among the local Emirati population, through this partnership,” the Chairman added.
Binghatti has employed more than 50 Emirati employees in 6 months to work in their company, carrying leadership roles across various sectors. This collaboration underscores the company’s devotion to cultivating regional talent and supporting the endurable growth of Dubai’s real estate market.
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Upcoming Projects and Market Attractiveness
According to Binghatti, the company intends to invest more than Dh10 billion in 12 new real estate projects by the second half of this year. He counted that the company’s current projects are rolling according to the plan with high demand and profitable sales.
He noted that sales of the Mercedes Benz Places – Binghatti project topped about 90%, while Jacob & Co Residences project sales exceeded 50%.
He indicated that the real estate market in Dubai has evolved to be very attractive to investors and buyers of all ethnicities, such as Europeans, Americans, Asians, and Russians, who desire to transfer assets to Dubai in particular and the UAE in general.
The CEO stated that the real estate market is appealing in light of attaining high ROI, noting that the rental return in Dubai is at least 7-8 percent, thanks to the alleviation of establishing and launching new businesses within hours.
