Binghatti Developers, a leading real estate development company in the UAE, has announced the launch of its new residential project, Binghatti Mirage, being built at an investment of AED200 million ($54.6 million) in Jumeirah Village Circle (JVC), Dubai.

The six-storey Binghatti Mirage provides residents with easy access within the city as well as to service facilities and modern amenities.

It is the developer’s third project to be offered for sale in JVC, thus taking the number of apartments it offers in the area to 500.

Spread over an area of 300,000 sq ft, Binghatti Mirage will contain 160 apartments. Of these, 90 are one-bed apartments, while the other 70  are two-bed units. 

CEO Muhammad Binghatti points out that Binghatti’s client-oriented strategy aims to provide high-quality real estate projects to clients who are seeking a quality property, privileged location and a high quality lifestyle.

Binghatti Mirage will be handed over in early March next year, he adds.

On the pricing, Binghatti says it will be very fair and competitive. “The one-bed apartment, with an area of ​​722 sq ft, will be priced at AED485,000 ($32,000) after a 30 per cent discount in advance, while the two-bed unit, which has an area of ​​856 sq ft is at AED689,000.

There will be a down payment of 10 per cent of the total cost, and the remaining amount will be paid on monthly basis at AED4,900 per month.