Dubai hotspot for realty investors

Inayat-ur-Rahman, Deputy Business Editor

Dubai has emerged as a hotspot for global and local real estate investors buoyed by the emirate’s steady economic growth, world-class infrastructure, tolerant and inclusive culture for multiple nationalities and ease of access to the rest of the world.

“BinGhatti Developers”, one of the leading real estate development companies in the UAE has announced that 90% of its new Dhs400 million project, BinGhatti Millennium Residences, in Dubai has been completed.

Millennium BinGhatti Residences is a project inspired by the Millennium Hotels and Resorts chain. It is located on the “Dubai Water Canal” in the “Business Bay”, which is the modern business capital of the emirate of Dubai.

The project includes 230 “studio” units, besides many one and two-bedroom apartments. It provides a range of amenities inspired by the international “Millennium” hotels, ensuring a luxurious lifestyle for all residents of the building.

This iconic building, due for hand-over in the first quarter of 2021, is attracting a large number of regional and international investors, as has been recently reported by sales data of the project.

 “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 Dubai International Expo, scheduled for October 2021,”said Muhammad Bin Ghatti, the CEO of BinGhatti  Developers.

He explained that the project comes within the real estate portfolio of the company, which is currently worth about Dhs3.5 billion ,with 40 projects located in the most important areas in the emirate of Dubai, including 20 projects in Dubai Silicon Oasis. The company has succeeded in delivering 35 projects so far since 2015.