Binghatti Holding, a Dubai-based real-estate developer, has acquired freehold land to develop a new master-planned residential community that is expected to have a total development value of over Dh25bn ($6.8bn).

The land, located in Nad Al Sheba 1 in the heart of Dubai's Meydan district, spans over eight million square feet of gross floor area.

The development will be Binghatti’s first large-scale master-planned residential community in the United Arab Emirates (UAE).

The area, said to be known for its equestrian heritage and the original Nad Al Sheba Racecourse, is strategically positioned for connectivity, offering access to major roads and proximity to Dubai's landmarks.

Binghatti Holding chair Muhammad BinGhatti said: “The acquisition of a mega plot for what is expected [to] be our first master-planned development marks a pivotal moment in Binghatti’s growth journey.

“The planned new mega project would build on the strong momentum of our vertically integrated model, which has consistently enabled us to deliver distinctive, high-quality properties ahead of schedule.

“Our solid financial foundation has allowed us to self-fund the acquisition of the land for what is expected to be a transformative project that will set a new benchmark for integrated living in Dubai.”

The company already has a significant portfolio, with around 20,000 units under development across approximately 30 projects in prime residential areas of Dubai.

These areas include Downtown, Business Bay, Jumeirah Village Circle, Al Jaddaf, Dubai Science Park, Dubai Production City, and Sports City within the area.

The company also owns flagship properties, which are branded residences built in partnership with companies such as Bugatti, Mercedes-Benz, and Jacob & Co.

In March 2025, another Dubai-based real-estate company, AMIS Development, began construction on Woodland Terraces, a Dh130m luxury residential project in District 11, Meydan.