The Emirates Real Estate Group has unveiled its latest project in the heart of the Jumeirah Village Triangle (JVT) in Dubai, under the patronage of Sheikh Rashid bin Hamid Al Nuaimi, the Head of the Municipality and Planning Department in Ajman. The “Azhai Millennium Residences” project, valued at 350 million dirhams, will feature a stunning collection of 196 residential apartments under the Millennium Hotels and Resorts brand, along with coordinated retail spaces, set to be completed in the fourth quarter of 2027.
Sheikh Rashid bin Hamid Al Nuaimi stated, “The Azhai Millennium Residences project is a unique addition to Dubai’s exceptional portfolio of luxury branded homes. It embodies an aesthetic destination and offers all the amenities of elegance and comfort, further enhancing Dubai’s appeal as an ideal residential location for luxury enthusiasts.”
Dubai recorded transactions for over 13,000 branded residential units in 2024, marking a 43% increase compared to 2023, according to reports from Global Branded Residences (GBR), which specializes in market intelligence and real estate consulting. Currently, Dubai boasts 43,000 homes across 132 luxury residential projects, and it aims to more than double its stock in the next five years. Developments like Azhai Millennium Residences are expected to help maintain long-term supply levels as the market anticipates heightened demand due to an influx of high-net-worth individuals over the next decade.
Mohammed Hijazi, General Manager of the Emirates Real Estate Group, remarked, “The launch of the Azhai project comes at a time when Dubai is experiencing significant attraction from wealthy investors. Each residential unit is meticulously designed to capture the essence of luxurious living. Millennium Hotels and Resorts adds substantial value to these homes, promising an unparalleled experience through exceptional hospitality services.”
Hijazi further added, “This will expand the options for luxury properties and assist global wealth owners in residing in Dubai.”