UAE-based real estate developer Binghatti Properties, and German automaker Mercedes-Benz, announced a tie-up to build a towering new branded residence in the emirate of Dubai.
The reveal of the groundbreaking project – Mercedes-Benz Places, to be located in Downtown Dubai, was done on Wednesday.
The two brands said the collaboration was
“Brought together by a shared passion for iconic design and innovation, this partnership merges the world of real estate and automotive excellence to set new standards in luxury design and living.”
Announcing the branded residence, Binghatti Properties revealed the architectural plans. The development will be 341 metres tall and a 65- storeyed building.
Muhammad BinGhatti, CEO of Binghatti, said,
“We are profoundly excited to be working alongside Mercedes-Benz – a truly iconic name – to develop the first Mercedes-Benz branded luxury residence in the world.”
“Mercedes-Benz Places in Dubai is not merely a real-estate development; it will also place community and mobility at its core, setting a new benchmark for intelligent living.”
The new real-estate landmark will be built in the heart of Dubai, surrounded by some of the iconic built structures, including the Dubai Mall, the Museum of the Future, and unobstructed views of the Burj Khalifa.
Binghatti and Mercedes-Benz said they have been finalising the details of this project for over a year with a focus on creating a customer-centred approach that places the needs of future residents at the forefront of the experience.
Mercedes-Benz said its design philosophy revolving around ‘Sensual Purity’ is a driving force behind the project’s architecture, creating timeless and beautiful spaces in an oasis of serenity and purity.
By combining smart home technologies with intelligent mobility solutions, Mercedes-Benz Places Dubai aims to redefine comfort and convenience in a modern living space.
Britta Seeger, member of the Board of Management Mercedes-Benz Group AG, Marketing and Sales shared:
“With Mercedes-Benz Places in Dubai, we are going beyond automotive to create outstanding brand moments. With their many years of experience in real-estate development, Binghatti is the ideal partner for us. Our aim with our first branded, real estate residential tower is to create new, desirable grounds that inherit our brand’s DNA and give our customers a place to arrive, unwind and come home to.”
The partnership is a first for Mercedes-Benz in the real-estate branded project segment, with the collaboration expected to commence with a launch event in Dubai on January 24, 2024, where further details about the project will be announced.
Dubai’s booming branded real estate segment
The emirate which is riding an unprecedented boom in its real estate market, is set to add to its collection of such properties as it retains the title of the number one city for branded residences, in the world.
Dubai beats out the likes of international realty hotspots such as Florida, New York, and London, according to a report by property consultants Savills.
With 51 such branded residences currently operational, and an equal number set to come onto the market by 2030, Dubai looks to retain the crown for the remainder of this decade.
News Source: Gulf Business