UAE - Mubasher: Binghatti Developers, a Dubai-based real estate development company, has launched the second phase of the 'Binghatti Avenue' project in Dubai Healthcare City at a total value of AED 600 million.
Spanning over an area of about one million square feet, the project comprises a 35-storey residential tower, with 665 residential units, according to a press release on Monday.
Featured with a unique urban lifestyle, the building has direct views of the Dubai Creek and Dubai skyline.
The CEO of Binghatti Developers, Muhammad Binghatti, referred that the demand for Dubai's real estate has risen in recent months from local and international investors, as the Dubai market is seen as one of the safe havens amid coronavirus (COVID-19).
The CEO added that the prices in Dubai real estate market have become reasonable to suit all buyers, alongside lower commission rates by real estate brokers to adapt to market conditions.
Binghatti commented: "Data from the Land Department showed that 10,728 new investors entered the market, representing 70% of the total number of investors throughout the first nine months ending on 30 September."
