Binghatti: Building brand with design, architectural code

Family Offices should focus on technology, assimilate the latest trends, and digitise as much as possible, said Muhammad BinGhatti, CEO, Binghatti.

The Binghatti brand aims to introduce the world to property that is identifiable through artistic homes, iconic architecture, and branding. The brand operates in real- estate, F&B, hospitality, industrial, FMCG, construction, and design sectors.

Today, Binghatti is the UAE’s leading developer of artistic and affordable homes, with a real-estate portfolio spread over 50 projects and exceeding a value of Dh 5 billion.

The ambitious entrepreneur leading the Emirati property developer is all set to build a futuristic brand inspired by global brands and deploy strategies that will help get a strong return on investments and solid yields to consumers who invest with the group.

“Family offices should believe more in the younger generation — providing more opportunities for this generation whilst also giving the right mentoring possibilities. We need to rely on hands-on approaches when it comes to market research, being in the field and always having an entrepreneurial approach whereby the leaders of the organisation are very attached to the market itself. They experience the product, they’re always in the field rather than running the business in an ultra-corporate fashion,” BinGhatti told Khaleej Times in an exclusive interview.

It may be recalled Binghatti was the one of the most recent developers who started accepting payments in cryptocurrency in the UAE for its properties.

On accepting cryptocurrency as a payment option, BinGhatti said: “ Accepting Crypto as a payment option was one of our strategies in widening our customer base. Today, this sort of currency has become something that is quite ubiquitous. This has been a mechanism for us to provide more flexibility to our customers.

BinGhatti shares that he derives inspiration from globally successful brands like Apple, Lamborghini and Louis Vuitton and strives to offer the same through his brand which will change the way homes are perceived and impact people’s lives.

“I was always inspired by the entrepreneurship of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai. I was really inspired by how he built Dubai and all of us as young leaders have learned a lot from his approach,” he said.

“Binghatti is inspired by the automotive industries, we want to build brand identity through our architecture. When you look at automotive brands like Lamborghini, Mercedes, and Ferrari, you name it, any car brand, the product is immediately identifiable because of its design. This is exactly what we have done at Binghatti. I think we are the only developer, probably worldwide, who has done this whereby we have established a design and architectural code or identity that is followed throughout our properties- and this is what makes us unique and gives us a competitive edge.”

BinGhatti is very bullish about the trends in real estate market and says it is a good time for the property market.

“I think we have seen the market flourish over the past two years or a year and a half and this trend will continue. What solidifies the property market in the UAE and Dubai is its very solid yields as it is now an international market and not just a local market. Today, we have investors coming or rather, migrating from global destinations to Dubai. We have seen these in many reports published recently. A lot of wealth is coming into Dubai, and I think the government has been very prudent in attracting investments, particularly, FDI (Foreign Direct Investments) into the country. This has been done through different policies such as golden visas, foreign company ownership, and many other investment easing mechanisms that the government has made possible,” he said.

The brand is introducing cutting-edge technology within their properties that are beyond their time. “We have infused these technologies into things like hands-free mechanisms for our kitchen cabinets, lights, temperature monitoring and controlling through voice recognitions, and hands-free charging,” concluded BinGhatti.

— sandhya@khaleejtimes.com

• Dubai