Dubai developer Binghatti has acquired a state-of-the-art steel manufacturing facility in Dubai.
“The newly acquired steel factory marks a significant milestone in Binghatti’s commitment to innovation and excellence in the real estate industry,” the company said in a statement.
The facility will serve as the primary hub for Binghatti’s in-house team of designers, architects, and manufacturing experts to transform architectural design into top-tier hyper-towers. Design structures including elements of the iconic crowns featured atop of Binghatti’s latest mega projects Burj Binghatti Jacob&Co Residences as well as Mercedes Benz Places | Binghatti are expected to be manufactured in the facility.
Binghatti’s strategic acquisition is in line with its supply chain and development process. The newly-acquired factory will operate in tandem with Binghatti’s in-house manufacturing facilities for joinery, aluminum and glass, and guided by its dedicated team of in-house engineers, interior designers and architects.
“The acquisition and development of this manufacturing facility further cements Binghatti’s unwavering commitment to quality. We are determined to maintain uncompromising focus on craftmanship and ensure the highest standards of durability and excellence by overseeing the entire process from inception to completion in our projects”, Binghatti CEO Muhammad BinGhatti commented.
Binghatti aquired this investment through its self-sustained cash flow, reflecting the company’s solid financial position. The strategic investment further strengthens the developer’s position as a key player in the industry.