UAE-based Binghatti Developers said there has been an overwhelming investor response for its Dh400-million ($109 million) Millennium Binghatti Residences project coming up on Dubai’s Water Canal at Business Bay.

The 29-storey tower’s prime location in Business Bay, a cosmopolitan community at the heart of Dubai, seamlessly blends together high-rise residential, commercial, retail, and entertainment space. The building sits directly on the Dubai Water Canal waterfront with spectacular views of the iconic Dubai skyline and Burj Khalifa.

Binghatti Developers said that the project, which is inspired by the luxurious Millennium Hotels and Resorts, experienced remarkable success during the sales launch of Phase One units held recently.

The official unveiling event saw an overwhelming number of buyers and investors who snapped up
around 60 per cent of the Millennium Binghatti Residences Phase One units.

Consisting of 230 units including studio, one- and two-bedroom apartments, the building offers several hotel-inspired facilities which ensure an enjoyable and prestigious lifestyle for its residents.

The project boasts many key facilities such as premium concierge-style services, daycare services facilitation, catering services facilitation, laundry services facilitation, housekeeping services facilitation, 24/7 maintenance hotline, and many other premium facilities. The tower is expected to be completed by the end of next year.

CEO Muhammad BinGhatti, said: "We are very pleased with the response we have received for Millennium Binghatti Residences, which is Binghatti’s first hotel-inspired project in Business Bay. The iconic building is a wise investment for both regional and international investors, with residents set to become part of a thriving community."

"The success observed during the first phase of the project’s sales strengthens the city’s reputation as a safe haven for property investments," he noted.

"In addition to the tower’s innovative design is a unique and modern reinterpretation of traditional ideas that are still relevant to the regional culture and climate," remarked BinGhatti, who is also the head of architecture at the company.

"With a fresh take on historical ideas, Millennium Binghatti Residences is a rare example of vernacular architecture that has often been overlooked in the pursuit of authentic modernism in Dubai," he added.-TradeArabia News Service