Dubai: Mercedes-Benz Branded Residential Tower Worth $1 bn Launched

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Dubai: Mercedes-Benz Branded Residential Tower Worth $1 bn Launched

In an innovative partnership, Binghatti Properties and Mercedes-Benz have revealed blueprints for an extraordinary $1 billion branded residential tower in Dubai, as per reports. This groundbreaking initiative harmonizes the proficiency of a well-established real estate developer with the luxury and inventive spirit associated with the Mercedes-Benz brand. 

The tower pledges a refined fusion of architectural elegance and design inspired by the automotive world, epitomizing the zenith of luxury. Boasting cutting-edge amenities and an unmatched commitment to precision, this venture aspires to redefine the concept of upscale living in Dubai. 

The collaboration symbolises the coming together of two industry frontrunners, laying the foundation for a meaningful development surpassing conventional residential magnificence benchmarks. 

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What Have Binghatti Mercedes-Benz Recently Launched In Dubai?

#Dubai-based luxury developer @Binghatti Properties on Wednesday launched a $1-billion new branded residence in #Downtown, housing duplex and triplex apartments.The uber-luxury project Mercedes-Benz Place l Binghatti, launched in partnership with German luxury carmaker… pic.twitter.com/4dDutTlE9Z

— Khaleej Times (@khaleejtimes) January 25, 2024

On Wednesday, the luxury real estate developer Binghatti Properties, headquartered in Dubai, introduced a new $1-billion residential project Downtown, Khaleej Times reportedThis upscale development, Mercedes-Benz Place, created in collaboration with the renowned German luxury automaker Mercedes-Benz, will feature duplex and triplex apartments. 

Situated in one of the limited remaining plots in the highly coveted Downtown Dubai area, the 65-storey tower will house 150 apartments, with prices starting at Dh10 million. The ambitious project is scheduled for completion in the fourth quarter of 2026, the report further reveals.

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How Is The Residential Tower Being Built & What Are The Features?

The residence will encompass two-, three-, and four-bedroom units and five-bedroom penthouses alongside duplex and triplex apartments. The two-bedroom floor will host only four suites, while the three-bedroom unit floor will feature only three. Additionally, each floor will have just two five-bedroom penthouses. 

Soaring to a height of 341 meters, the tower will provide residents with an array of amenities, including restaurants, sports and wellness zones, lounges, non-automotive retail spaces, exhibition areas, and parking facilities. 

Mercedes-Benz Branded, 65-storey Residential Tower Worth $1 bn Launched In Dubai
The ambitious project is scheduled for completion in the fourth quarter of 2026 | Image: Binghatti

Mercedes-Benz Place will incorporate electric vehicle charging, smart mobility apps, ride-hailing services, bike and scooter sharing, chauffeur services, and automated valet parking. Notably, each unit will come equipped with its private swimming pool. 

The duplex residences will boast six bedrooms and exclusive amenities such as a private gym and an office. On the other hand, the triplex units, spanning three floors, will offer a private gym, a cinema, a spa, and other amenities. 

The developer has incorporated photovoltaic technology extensively into the building’s façade, aiming to produce electricity for charging electric vehicles within the structure. Muhammad Binghatti, CEO of Binghatti Properties, mentioned in an interview on Wednesday that the expansive façade, covering 75,000 square feet, is designed to generate energy capable of charging 40 electric vehicles daily. 

This translates to a total of 20,000 kilometres of carbon-free journeys. Mercedes-Benz Place by Binghatti is the developer’s latest venture into branded residences, following projects such as Bugatti Residences by Binghatti and Burj Binghatti Jacob & Co. 

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Significant Demand

Mercedes-Benz Branded, 65-storey Residential Tower Worth $1 bn Launched In Dubai
The US$1 billion development will have unobstructed views of the world’s tallest tower, Burj Khalifa | Image: Binghatti

Muhammad Binghatti, CEO of Binghatti Properties revealed that the triplex units, which are exclusive and not publicly listed, have yet to be priced. Despite this, there has been considerable interest, and the soft launch has already seen the sales team successfully closing deals. The CEO expressed confidence in the project’s success, stating, “I think we are going to be sold out soon.” 

According to The National, half of the branded project, in fact, sold out a day after the launch.

Muhammad Binghatti further explained that there is a significant demand from clients seeking trophy assets, akin to collectors of valuable items such as cars. Some buyers are end users looking for a luxurious residence, while others view such properties as brilliant investments. Real estate has a unique appeal driven by factors like yield, capital gains, and these properties’ overall potential. This makes such products highly attractive to investors, presenting a lucrative opportunity beyond what may be achievable in the automotive world. 

Britta Seeger, a member of the Mercedes-Benz Group AG management board responsible for marketing and sales, expressed that Dubai is an ideal location for undertaking a branded residences project. 

What do you think about it? Do let us know in the comments.

(h/t: Bloomberg/Khaleej Times)

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