BinGhatti Developers, one of the leading real estate development companies in the UAE, has announced that 90 per cent of its new project, BinGhatti Millennium Residences, in Dubai has been completed. 

 

Located on the Dubai Water Canal in Business Bay, the AED400 million ($109 million) Millennium BinGhatti Residences is a project inspired by the Millennium Hotels and Resorts chain. 

 

This iconic building, which includes 230 studio units and several one and two-bedroom apartments, is due for handover in the first quarter of 2021. 

 

It provides a range of amenities inspired by the international "Millennium" hotels, ensuring a luxurious lifestyle for all residents of the building, said the UAE developer.

 

The project boasts key amenities such as hotel luxury reception halls and assistance services, 24/7 maintenance services, facilitating cleaning services, catering and laundry services, making it unique in the real estate market in addition to offering direct views of the Dubai Water Canal and Dubai Skyline.

 

The location of Millennium Residences is one of the main factors for its success as it is located minutes away from the most prominent destinations and landmarks of the city such as Dubai Downtown, Dubai Mall, Dubai International Financial Center, Meydan, Dubai Creek, Dubai International Airport, Kite Beach, Mall. Emirates, Palm Jumeirah, Dubai Marina.

 

"We are pleased that the Millennium BinGhatti Residences project is fully completed and the hand-over will begin during the first quarter of next year, prior to the launch of the Expo 2020 Dubai, scheduled for October 2021," remarked its CEO Muhammad Bin Ghatti.

 

He explained that the project comes within the real estate portfolio of the company, which is currently worth about AED3.5 billion with 40 projects located in the most important areas in the emirate, including 20 in Dubai Silicon Oasis. 

 

The company has succeeded in delivering 35 projects so far since 2015, he stated.

 

According to him, the occupancy rate at BinGhatti housing projects stood at over 80%, which reflects the great confidence in its distinguished investments.

 

"Our projects enjoy the confidence of major financial institutions and their real estate portfolios, thus confirming the attractive investment opportunities that these institutions prefer," remarked BinGhatti.

 

He said the company's strategy focused mainly on the best locations in Dubai for their projects, and its middle class clientele through provision of projects with high quality, reasonable price and timely delivery.