Binghatti Developers has announced an ambitious project in Dubai, collaborating with Mercedes-Benz to create a luxury residential community worth $8.2 billion. The new development, named Mercedes-Benz Places – Binghatti City, is set to include over 13,000 residential units, catering to a diverse range of buyers. With prices starting from Dh1.6 million (approximately $435,600) for studios and Dh2.6 million for one-bedroom units, the project aims to attract end-users and investors alike in this vibrant market.

Project Details and Unit Types

Located in Nad Al Sheba, Mercedes-Benz Places will feature a variety of unit configurations, including two-bedroom apartments starting at Dh3 million and three-bedroom options beginning at Dh5 million. This comprehensive offering is designed to appeal to different segments of the market, making it accessible for a wider audience, according to Muhammad Binghatti, the chairman of Binghatti Developers. The planned community will consist of 12 towers that include 6,321 studios, 4,963 one-bedroom units, 1,653 two-bedroom homes, in addition to 431 three-bedroom apartments and select four- and five-bedroom options.

Market Demand and Stability

Binghatti aims to create not just residences but also long-term investments. “We are targeting a larger segment of client types, and that’s why we did smaller units, medium-sized units, and larger units,” Mr. Binghatti stated. As the company is poised to complete the project within three and a half years, they are optimistic about the sustained demand in Dubai’s property market. The chairman is confident that there will be no sudden fluctuations in pricing and that the market is expected to remain stable throughout the year. “We see continuous population growth, so the demand will continue… and at the same time, we have a scarcity of land,” he added.

Impact of Government Initiatives

The Dubai property market has benefitted significantly from various government initiatives, including the introduction of residency permits for retirees and remote workers, as well as the expansion of the 10-year golden visa program. These measures have stimulated interest from global investors, contributing to significant growth in property transactions. As a result, the volume and value of these transactions reached record highs in 2025, with over 270,000 transactions worth Dh917 billion completed, marking a year-on-year increase of 20%.

Future Expansion Plans

While the current focus remains on the Dubai market, Binghatti Developers has plans to expand into Abu Dhabi and launch new projects this year. Mr. Binghatti outlined that Abu Dhabi represents another key market for the company. “Our main focus right now is Dubai. I think the next in line is definitely Abu Dhabi,” he noted. The company is currently operating with no plans for a public offering, maintaining a “business as usual” approach while it continues to explore opportunities for growth in the UAE’s flourishing property landscape.

With plans to surpass Dh26 billion in sales this year, Binghatti Developers is set to play a significant role in shaping the future of luxury real estate in Dubai and beyond. The Mercedes-Benz partnership highlights the developer’s commitment to providing premier residential options while enriching the living experience in an ever-evolving market.