Construction

BinGhatti Millennium Residences to be handed over in Q1, 2021 says developer

Developer’s real estate portfolio is worth about $953mn

BinGhatti Developers has announced that 90% of its BinGhatti Millennium Residences is complete and that the project is on track for handover in the first quarter of 2021.The $109mn project is located on the Dubai Water Canal in Business Bay and is said to be inspired by the Millennium Hotels and Resorts chain.

The project will feature 230 studio units and several one and two-bedroom apartments, along with various amenities that BinGhatti says will ensure a luxurious lifestyle for all residents of the building.

“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,” said BinGhatti Developers’ CEO Muhammad Bin Ghatti.

He explained that the company’s real estate portfolio is currently worth about $953 million, 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 since 2015, he added.

The occupancy rate at the firm’s housing projects stands at over 80%, which reflects the great confidence in its distinguished investments, he explained.

He stated that the company’s strategy focused 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.

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