Binghatti and Mercedes-Benz Launch Branded Residential Tower in Dubai

Binghatti and Mercedes-Benz Launch Branded Residential Tower in Dubai

Last week, Binghatti Properties, a luxury developer based in Dubai, launched a new branded residence in Downtown worth $1 billion that houses duplex and triplex apartments.

The project in question was launched in partnership with Mercedes-Benz, the German Luxury carmaker, and is called Mercedes-Benz Place I Binghatti.

The tower will be built in one of the handful of plots that are left over in the most sought-after location in Dubai.

The project

The 65-storey tower will comprise of a total of 150 apartments and prices will start from AED 10 million. The project is scheduled for completion in the last quarter of 2026.

In addition to duplex and triplex apartment, the tower will also comprise of 2, 3 and 4-bedroom units. The three-bedroom unit floor will have three suits, while four suits will be given to two-bedroom floors.

Every floor would also have just two five-bedroom penthouses. The tower will be about 341 meters tall and will offer plenty of other features.

It will have a range of restaurants, parking, wellness and sport zones, non-automotive retail, exhibition spaces and lounges.

Mercedes-Benz Places will include smart mobility apps, electric vehicle charging, scooter and bike sharing, ride-hailing, automated valet parking and chauffeur services.

The features

A private swimming pool will be provided with every single unit. There will be six bedrooms in the duplex, along with an office and a private gym.

The triplex will spread over three floors and come with a spa, cinema, private gym and a number of other amenities.

Photovoltaic technology has also been incorporated in the façade by the developer for generating electricity that will be used for charging the electric vehicles in the building.

The façade will cover an area of 75,000 square feet for generating energy that will charge 40 electric vehicles on a daily basis.

CEO of Binghatti Properties, Muhammad Binghatti, said that this would mean carbon-free trips covering 20,000 kilometers.

The private developer has already launched Burj Binghatti Jacob & Co and Bugatti Residences by Binghatti and this is the latest branded residence it is launching with Mercedes-Benz.

Trophy assets

According to the CEO of Binghatti, they have not priced triplex that are off-market and exclusive units. But, he said that they have received interest and are beginning the soft launch.

He added that the sales team was already closing units and they would soon be sold out. He added that there were lots of clients searching for trophy assets for their collection, similar to car collectors.

He also added that some of the people were end users and there are also those who are searching for a brilliant investment.

Binghatti said that in the automotive world, they might not go beyond some price tags, but the same does not apply to brick and mortar.

This is because the capital gains and yield that such products offer make them very lucrative to investors due to which they want to invest.

Part of Mercedes-Benz Group, Britta Seeger, said that Dubai is an excellent location for launching a branded residences project.

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