Bugatti invests in luxury residences in Dubai
Bugatti is partnering with Binghatti, a real estate developer in the United Arab Emirates, to develop luxury residences in Dubai.
By Eva Morletto23 mai 2023
On June 24, at the giant Coca Cola Arena in Dubai, Bugatti, the iconic luxury car brand, will officially reveal its partnership with Binghatti, one of the UAE's most recognized real estate developers, to create a series of super luxury residences in Dubai. Inspired by the world of sports, this residential project is aimed at wealthy Gulf families and loyal Bugatti clients. Dubai is also home to another Bugatti real estate project: the luxurious "Ettore 971" villas with panoramic views of the Trump International Golf Club in Dubai, designed by Tiger Woods.
Muhammad Binghatti, CEO of Binghatti, intends to maintain Bugatti's signature spirit of exclusivity in these luxury residences, a key feature of the brand's vehicles. Binghatti has already been involved in designing the world's tallest residential building in partnership with jewelry company Jacob & Co. The luxury complex, which will have over 100 floors, will be in the Business Bay area.
Mate Rimac, the Croatian head of Bugatti Rimac, said the residences would be aimed at a privileged clientele, stating, "If comparable, it is no longer Bugatti." The automotive brand, having thrived in recent years and not been affected by the crisis, is positioned to launch ambitious projects to diversify its business. In 2022, it achieved around 300 million euros in sales and delivered 80 cars.
Bugatti, bought out of Volkswagen by electric car maker Rimac, which holds 55% of the capital, in partnership with Porsche, which owns 45% of the capital, has taken advantage of a favorable economic climate for luxury car makers. The new W16 Mistral model will be manufactured between 2024 and 2026 and will mark the end of the brand's thermal models. The model, an evolution of the Chiron (500 units delivered since 2016), will be manufactured in 100 units. The series, presented in August last year, was sold out in a single day.
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