Binghatti Developers completes its flagship development in a record 11 months
This AED 170 million project has been completed in a record 11 months. The apartments located in Dubai Silicon Oasis is a range of affordable residential properties, something Binghatti Developers specialise in. The 224 apartments range in shape, style and number of rooms, providing living space for people with a range of budgets.
Muhammad Binghatti Aljbori, CEO and Chief Architect of Binghatti Developers said: “We have commenced handing over residential units to buyers and end-users, fulfilling our promise that the project will be ready within less than one year from the start of construction work”.
Aljbori asserted that they ‘have reached a business model that suits all customer segments, including both real estate investors and end-users’.
He continued: “Our speed in delivering work allows investors to realise investment returns in record time through leasing or selling. At the same time, our speedy delivery allows end users to relocate in their new residences within less than one year from the purchase date.
“Having studied the local real estate market in Dubai carefully and thoroughly, we concluded that demand is far ahead than supply, especially in the individual investment sector of the middle-income segment which secures the biggest stake in our communities. Therefore, we decided to focus on this sector and we are very optimistic”.
Each apartment has access to unmatched amenities such as a state-of-the-art health club, a swimming pool, a Jacuzzi, a running track, as well as a BBQ area and kids play area.
Amid interest from various nationalities, including Indian, UK, South African, UAE and Arab investors, Binghatti Developers has successfully sold out the entire project. Prices range from AED 700 to AED 1,050 per square foot, while apartment sizes range from 434 to 2,653 square feet.
5 minutes with... Janthana Kaenprakhamroy, CEO, Tapoly
Founder and CEO of award-winning insurtech firm Tapoly, Janthana Kaenprakhamroy heads up Europe’s first on-demand insurance platform for the gig economy, winning industry awards, innovating in the digital insurance space, and leading with inclusivity.
Here, Business Chief talks to Janthana about her leadership style and skills.
What do you do, in a nutshell?
I’m founder and CEO of Tapoly, a digital MGA providing a full stack of commercial lines insurance specifically for SMEs and freelancers, as well as a SaaS solution to connect insurers with their distribution partners. We build bespoke, end-to-end platforms encompassing the whole customer journey, but can also integrate our APIs within existing systems. We were proud to win Insurance Provider of the Year at the British Small Business Awards 2018 and receive silver in the Insurtech category at the Efma & Accenture Innovation in Insurance Awards 2019.
How would you describe your leadership style?
I try to be as inclusive a leader as possible. I’m committed to creating space for everyone to shine. Many of the roles at Tapoly are performed by women and I speak at industry events to encourage more people to get involved in insurance/insurtech. Similarly, I always try to maintain a growth mindset. I think it’s important to retain values to support learning and development, like reliability, working hard and punctuality.
What’s the best leadership advice you’ve received?
Build your network and seek advice. As a leader, you need smart people around you to help you grow your business. It’s not about personally being the best, but being able to find resources and get help where needed.
How do you see leadership changing in a COVID world?
I think the pandemic has proven the importance of inclusive leadership so that everyone feels supported and valued. It’s also shown the importance of being flexible as a leader. We’ve had to remain adaptable to continue delivering high levels of customer service. This flexibility has also been important when supporting employees as everyone has had individual pressures to deal with during this time. Leaders should continue to embed this flexibility within their organisations moving forward.
They say ‘from every crisis comes opportunity’, what opportunities do you see?
The past year has been challenging, but it has also proven the importance of digital transformation in insurance. When working from home was required, it was much harder for insurers to adjust who had not embedded technology within their operating processes because they did not have data stored in the cloud and it caused communication delays with concerned customers at a time when this communication should have been a priority, which ultimately impacts the level of customer satisfaction. This demonstrates the importance of what we are trying to achieve at Tapoly in driving digitalisation in insurance and making communication between insurers and distribution partners seamless.
What advice would you give to your younger self just starting out in the industry?
Start sooner, don’t be afraid to take (calculated) risks and make sure you raise enough money to get you through the initial seed stage.