Architect Of Ambition: Muhammad BinGhatti, Chairman of Binghatti Holding Muhammad BinGhatti, Chairman of Binghatti Holding, has reshaped the UAE's real estate landscape by merging architectural innovation with luxury, and has forged partnerships with iconic global brands like Bugatti and Mercedes-Benz while leading a portfolio valued at AED40 billion.

In 2014, Muhammad BinGhatti took the reins of Binghatti Holding, a company his father, Hussain BinGhatti Aljbori, founded in 2008. His appointment came with immense responsibility, overseeing a business which operated in highly lucrative real estate sector- but the chairman's journey to this point has been anything except typical.

An architect and designer by trade, BinGhatti –armed with a Bachelor with Honors in Architecture– had always been fascinated by the power of design. "I always had an appreciation for how design influences our lives and the creation of world class brands and products," he says.

For BinGhatti, this passion isn't just confined to buildings; he believes in its impact across industries such as fashion and even culinary arts. His dream was simple: to create a real estate brand with a distinct architectural identity and design language, much like what can be seen in the automotive industry. "That was my vision for what a real estate brand should be, andthatiswhatIsetoffto pursue after graduating from architecture school," BinGhatti notes.

His ambition was to create buildings that were not just a structure but a symbol of art and lifestyle. This vision birthed the idea of amalgamating art into properties, a philosophy that has allowed BinGhatti to launch iconic projects, such as Burj Binghatti Jacob & Co. Residences, Mercedes-Benz Places by Binghatti, and Bugatti Residences by Binghatti. The Chairman explains the strategy: "Binghatti was the first to introduce these global brands to the real estate industry. The idea was to create something that would translate into an extension of the lifestyle that these brands have built in a way that had never been seen before." The aim with these projects was to create not just homes, but status symbols that were crafted with the same attention to detail as the luxury products with which they are aligned.

Burj Binghatti Jacob & Co Residences features stylized elements and dimensions found in Jacob & Co's scrupulous watchmaking process. Source: Binghatti Holding

Chatting about the projects, BinGhatti says, "The famous quote by Ettore Bugatti is, 'If comparable, it is no longer Bugatti', so when we worked with Bugatti our inspiration was to create something truly incomparable. When you look at a project featuring the only beach in the heart of the metropolitan city and a car lift for residents to park their automobiles within their penthouses, and 182 different layouts, I think that's the definition of incomparable."

Binghatti Holding's collaboration with the world's leading luxury automotive hypercar brand Bugatti to bring the first Bugatti branded real estate project in the world to Dubai. Source: Binghatti Holding

This was also the case with the partnership with Mercedes-Benz, which helped incorporate the values of mobility, technology and sustainability, while staying true to the Mercedes-Benz design DNA. "We ventured into the idea of designing a building-integrated photovoltaic facade spanning 75,000 square feet and running across the entire rear elevation of the project enabling the tower to generate energy to charge electrical vehicles."

Despite Binghatti Holding now playing in the major leagues, it had to start somewhere. "I still remember walking into the local authority office with the incorporation papers for Binghatti Properties. It's been a decade, but it seems like yesterday," he reminisces. "Weaving your way through a market with well-established giants that had operated for many years whilst having very limited resources in terms of capital and human resources was not easy at all, but I was highly determined and worked with what I had," he adds. BinGhatti personally handled everything- from designing the company's first logo, to building its website and creating an architectural DNA that set the firm apart.

His relentless drive paid off with initial full-building sales to institutional funds. "The culmination of these deals was a major boost on the capital of the company which enabled our initial growth," he confirms. Part of this growth involves growing teams for the core operations of the company. "I started with what I thought was absolutely essential for expanding the brand: building the sales and marketing teams. I still remember taking calls with clients personally with my sales team and welcoming clients while closing a few deals in our stands in different property exhibitions. I would sit every single day with the marketing team and plan campaigns to support our sales team."

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In its earlier years, BinGhatti's success was rooted in two main USPs: iconic architecture and speedy project delivery. "After experiencing considerable growth, I later moved on to expanding other teams that became a necessity. This included a full-fledge customer relationship management team that catered to clients' post sales services and a team dedicated for quality control. My focus was the elevation of our product in terms of the introduction of smart systems and quality finishes." But BinGhatti's influence goes beyond aesthetics. He introduced a highly personalized leadership style that he calls "passion management," where he remains deeply involved in projects across every level. "You could think of me back then as Chief Executive Officer, Chief Marketing Officer, Chief Sales Officer and Chief Design Officer all combined in one" he jokes.

This hands-on approach has enabled BinGhatti to lead the company through rapid growth over the last few years. The chairman adds, "I am proud to say that today Binghatti is one of the largest developers in the UAE and the Middle East with a projects' portfolio worth almost AED40 billion, and a total taskforce of 10,000 employees. In terms of year-on-year growth, we beat our entire 2023 revenue in just the first half of 2024. I think that speaks volumes of the growth and upward trajectory that BinGhatti is experiencing."

Mercedes-Benz Places by Binghatti Property, a 65-floor residential tower in Downtown Dubai, is the German auto giant's first branded property project. Source: Binghatti Holding

As 2024 draws to a close, Binghatti Holding shows no signs of slowing down. In this year, the company has announced launches of various projects including the likes of One by Binghatti in Business Bay and Binghatti Hills adjacent to Dubai Hills Mall. The company plans to roll out 12,000 residential units by the end of the year across various market segments and is on track to increase its portfolio to AED 60 billion by the end of 2025. This growth aligns with Dubai's Agenda 33, which aims to double the economy in the next decade- which marks the city as a lucrative ground for entrepreneurial growth. It's clear to see that the scion of the family has made the right decisions. "Even in hindsight, I would not do things differently. I believe greatness is greatness, there are many paths to it but it's one destination which I am pleased to say BinGhatti has achieved today. Despite knowing what I know now, I would not go back and change anything, and I even appreciate the taxing and strenuous times which I think have been essential in shaping the organization we have today and even myself as an individual," he says.

BinGhatti, the architect of the company's and his own success, had a vision of creating a real estate brand that leaves its mark on the skyline of Dubai and beyond. And it's fair to say he has succeeded. "The part I am most proud of when it comes to our brand DNA is our brand iconicity and recognition. What I mean by that is I am proud to say that today, anyone can recognize a Binghatti building with simply one glance."

'TREP TALK: Muhammad BinGhatti, Chairman of Binghatti Holding shares his tips for entrepreneurs starting their own business

Pursue what you love "My first tip for entrepreneurs is find something that you would not mind doing for the rest of your life."

Consistency is key "Once you find that thing, do it consistently and give it your 110% effort every day, because passion is never enough without consistent action."

Live and breathe your vision "I live and breathe the job that I do. That means if there ever is a vision or project, no matter how big or small, I approach it with an attitude of fixation and relentless obsession."

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