Dubai Real Estate: Mercedes-Benz Places Is Latest Bet on Luxury Property Boom – Bloomberg

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Mercedes-Benz Group AG insignia flashed on screens as thousands of guests thronged a hotel best known for hosting Dubai’s biggest horse-race. The glitzy event marked the unveiling of the city’s latest luxury tower, where some apartments will cost up to $10 million apiece.

The $1 billion development with unobstructed views of the world’s tallest tower, Burj Khalifa, is being built by Binghatti Properties in a first of its kind tie-up with the German automaker. Featuring 150 apartments starting at $2.7 million, the building is another high-stakes bet on Dubai’s property market that’s emerged as one of the world’s hottest over the past few years.


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