VMPL
Dubai [UAE], December 13: Binghatti is proud to announce a landmark achievement in the region's luxury real estate sector with the sale of the most expensive penthouse in Dubai and the Middle East, valued at AED 550 million, at the iconic Bugatti Residences by Binghatti.
The historic transaction was concluded by Binghatti's Chief Sales Officer Abdullah Binghatti, setting a new world record for Dubai's real estate market and achieves the highest price per square foot ever recorded in Business Bay, reaching AED 11,650 per sq.ft.
Commenting on the achievement, Chairman Muhammad Binghatti states "Year to date, we have achieved the number-one position in Dubai's real estate market, with more than 14,000 units sold, surpassing both public and private peers. As Dubai's fastest-growing real estate player, Binghatti has now risen into the top three developers in the city, commanding a significant share of the market according to the latest Dubai Land Department figures. These results reflect the strength of our strategy and the trust our clients place in our vision."
Spanning an extraordinary 47,200 sq.ft, this ultra-exclusive residence stands as a testament to the unmatched demand for Bugatti Residences by Binghatti, the world's first Bugatti-branded residential development.
The development has already become home to several global icons, with football superstar Neymar Jr., Italian tenor Andrea Bocelli, and international footballer Aymeric Laporte among those who have purchased residences within the project.
Crafted for the world's most discerning high-net-worth individuals, Bugatti Residences blends the elegance of French art de vivre with the energy of Dubai's metropolitan core. Located in the heart of Business Bay, the development offers unparalleled access to the city's major landmarks and business hubs, making it a preferred destination for global elites seeking prestige, security, and elevated living.
With its ultra-luxury homes, signature Sky Mansion penthouses, and world-first features, including exceptional privacy and bespoke amenities, Bugatti Residences continues to define the uppermost tier of Dubai's luxury property landscape.
This record-breaking sale further reinforces Dubai's position as a global capital for luxury real estate and highlights Binghatti's ongoing commitment to delivering architectural icons that push the boundaries of innovation and exclusivity.
About Binghatti Holding Ltd.:
Binghatti Holding Limited is one of the UAE's fastest-growing real estate development companies, with a rapidly expanding portfolio that spans over 80 projects valued at more than AED 70 billion. Renowned for its pioneering branded residences, Binghatti has forged collaborations with global icons such as Bugatti, Mercedes-Benz, and Jacob & Co., creating architectural masterpieces that blend innovation with opulence.
The company's robust financial foundation and disciplined growth strategy are underpinned by its solid credit ratings, 'BB-' by Fitch and 'Ba3' by Moody's, reflecting strong investor confidence and long-term stability.
An architect by training, Chairman Muhammad BinGhatti continues to shape the brand's legacy of architectural excellence and uncompromising quality. Binghatti has delivered more than 12,000 residential units to date, with a portfolio spanning elegantly designed mainstream communities offering high-quality living at accessible prices to ultra-luxury residences that set new benchmarks in Dubai's high-end real estate market.
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