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Bugatti Residences, the first-ever residential project by the French luxury carmaker in the world, was launched in Dubai on Wednesday night by the UAE-based family-owned developer Binghatti, as the demand for branded as well as uber-luxury residences continues to lead the local real estate market in the post-pandemic period.
Located in Business Bay, the 43-floor uber-luxury project will house 171 mansions and 11 sky mansion penthouses with each sky mansion penthouses occupying the entire floor.
With prices starting from Dh19.09 million, inspired by the year of the founding of Bugatti in 1909. All the units will have a view of the Dubai Water Canal on each and Burj Khalifa-Downtown on the other side.
The first Bugatti residence will house a Riviera-inspired beach, private pool, jacuzzi spa, fitness club, chef’s table, private valet, private members club and two garage-to-penthouse car lifts.
Interestingly, the ultra-high-net-worth residents of Bugatti Residences by Binghatti will be able to drive into the lift and then to straight into their floor as each unit will have a dedicated parking space. The highest penthouse will have 20 slots for parking.
One of the floors will have exhibition space for special cars of people living there, too. The project is scheduled to be completed within three-and-a-half years.
According to a report released by Savills, Dubai is the top location for branded residences globally, based on the supply of completed and pipeline schemes.
By volume of pipeline, the US, UAE, Vietnam, and Mexico are forecast to add the largest number of schemes – more than 30 schemes in each country by 2027.
“When you open the door of a Bugatti and sit inside, you know instantly that it’s very special; something truly incomparable. With Bugatti Residences, we wanted to translate this feeling into a highly exclusive retreat in the Heart of the Metropolis. Every great brand that has made a global impact on the planet – be it through a car, a watch, or any luxury item – begins with a rooted design ethos and a clear philosophy towards a specific lifestyle. We have built the Binghatti brand along similar pillars,” said Muhammad Binghatti, CEO of Binghatti.
Mate Rimac, CEO, Bugatti Rimac, said many firms reach out to them for Bugatti branded products such as phones, bicycles and scooters but they rejected them in order to protect the brand’s identity and uniqueness. “We were discussing real estate for quite a while and a lot of people were coming to us but we never found a partner that meets our standards. When Muhammad Binghatti reached out to us, then we found that they were the right partner and Dubai is the right location. They have the right expertise and financial strength – ticking all the boxes. The most important thing is they are really standing behind this project – not just managers running the project but the entire Binghatti family,” said Rimac.
Binghatti said all of the company’s projects meet the highest sustainability standards. “We want to take the experience that people enjoy at Palm Jumeirah and French Riviera and plant it in the heart of the metropolis. We want to integrate car experience into the project,” he added.
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