Brazilian football player Neymar Jr. has bought a $54.5 million (Dh200 million) penthouse in the Bugatti Residences by Binghatti, Dubai’s first-ever Bugatti-branded residential project. The property, located in Business Bay, features custom-designed features and a private beach inspired by the French Riviera, according to the Dubai developer.
Neymar’s penthouse is part of the Sky Mansion collection and includes a private pool, a car lift that brings cars directly to the penthouse, and stunning views of Downtown Dubai. Known for his incredible dribbling skills and speed, Neymar Jr. also holds the title of one of the most-followed athletes on social media. In 2023, he joined the Saudi Pro League team Al-Hilal.
The development, first announced in May last year, will offer a Riviera-style beach, pool, spa, fitness center, and a chef’s table. Other luxurious services will include valet, chauffeur, and concierge services, as well as a private club for members. There will be two car lifts from the garage to the penthouse. The project is expected to be completed in about three and a half years, according to the developer.
Neymar Jr. is seen here with Abdullah Binghatti, the chief sales officer at Binghatti.
Branded Residences and Luxury Living:
Branded residences are properties developed in collaboration with famous brands. These developments often feature exclusive branding, services, and amenities, according to real estate consultancy Knight Frank. While not all branded residences cost more, they usually carry a premium price. Other car brands, such as Porsche and Bentley, have also entered the real estate market.
Binghatti, the developer behind this luxury project, has delivered over 15,000 homes and has a portfolio of more than 70 projects worth over Dh40 billion. The company has formed partnerships with global brands such as Bugatti, Mercedes-Benz, and Jacob & Co. One of its latest projects in Downtown Dubai, Mercedes-Benz Places, sold out half of its units in a single day when it launched in January.
Rising Demand for Branded Residences in Dubai:
Dubai is quickly becoming a hub for branded residential projects, teaming up with well-known hotel, fashion, and car brands like Bugatti, Pagani, and Mercedes-Benz. Demand for branded properties is expected to stay high as wealthy buyers continue to spend more, helping to fuel the growth of Dubai’s real estate market.
Over 4,600 branded units are expected to be delivered in Dubai in the next five years, with more projects in development, according to Knight Frank. The report also predicts that wealthy buyers will spend $4.4 billion on property in Dubai this year, a 76% increase from last year. These buyers have an average net worth of $20 million globally, and $8 million in the Gulf region.
Since its launch, the Bugatti Residences project has already seen some of the highest transaction prices in Dubai. In November last year, the development achieved a record-high price per square foot in the Business Bay area, with a transaction valued at Dh9,674, according to the developer and records from Dubai’s Land Department.
