Mercedes-Benz is entering the luxury housing sector in Dubai. Realized with a 1 billion dollar investment, the residence project draws attention with its Burj Khalifa view apartments. Apartment prices start at 2.5 million dollars and average prices are expected to be around 10 million dollars.
The new address of luxury living in Dubai: Mercedes Residences
The project is being developed in partnership with Mercedes-Benz Group AG and Binghatti Properties, a real estate company based in the United Arab Emirates. The 150-apartment residence aims to offer a living space where luxury and comfort come together.
The Mercedes-branded housing project is also attracting great interest in Turkey. Many names from the business and society world attended the promotional meetings of the project. International Real Estate Expert Şerif Nadi Varlı drew attention to the intense interest in the project and stated that they are working hard to keep up with the demand.
For the first time in nearly two decades, a severe geomagnetic storm predicted for today could wreak havoc on mobile phone networks, GPS satellites, and power grids across the globe.
Dubai real estate market has become the favorite of investors with the rapid growth experienced recently. The market, which reached record levels in the first quarter of 2024, draws attention with supply constraints, growth in the luxury segment and rising rental prices. Experts say Dubai is on its way to becoming a global hub and they expect the upward trend in the real estate market to continue.
Dubai Airport, which has played an important role in Dubai’s rise, is preparing to become the world’s largest airport with a $35 billion expansion project. When the project is completed, the airport will have a capacity of 260 million passengers and 400 aircraft gates.
In Dubai, the growing population and the shortage of housing supply have led to an increase in rental and sale prices. Experts expect this trend to continue in 2024 and 2025. Consequently, Mercedes residences, which open the doors to a luxurious and comfortable life, offer an attractive opportunity for investors.
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