Emirates Properties launches Dh350 million Azha Millennium Residences as Dubai's branded home supply grows - Middle East Business News and Information
The launch of Azha Millennium Residences embodies Dubai's strategic vision to raise the real estate market value to Dh1 trillion by 2033
Under the patronage of HH Sheikh Rashid bin Humaid Al Nuaimi, Chairman of the Municipality and Planning Department in Ajman, Emirates Properties Group launched Azha Millennium Residences, an ultra-luxury branded mixed-use development that will be developed at the heart of Jumeirah Village Triangle (JVT), Dubai.
Being developed by Emirates Properties Group, one of the large property developers in the UAE, the Dh350 million Azha Millennium Residences will deliver an exquisite collection of 196 Millennium Hotels & Resorts-branded apartments and curated retail spaces upon completion in Q4 2027.
With its futuristic design, integrated living experience, and sustainable infrastructure, Azha Millennium Residences harbours Dubai's ambitious goal to propel the real estate market value to Dh1 trillion by 2033 – a key indicator of the Dubai Real Estate Sector Strategy 2033. Rising 30 storeys high, it is the latest hotel-branded development to adorn Dubai's towering skyline, reaffirming the city's appeal to the global affluent.
The emirate recorded transactions of more than 13,000 branded units in 2024, a 43 per cent increase from 2023, according to market intelligence and property consultancy Global Branded Residences (GBR). Currently boasting 43,000 homes across 132 high-end developments in its inventory, Dubai eyes to increase its stock by more than double over the next five years.
'Azha Millennium Residences is a unique addition to Dubai's striking portfolio of branded homes. The project is an embodiment of aesthetics, sophistication, and convenience, further enhancing Dubai's appeal as an ideal residential destination for luxury lovers,' Sheikh Rashid bin Humaid Al Nuaimi said.
Azha Millennium Residences features 196 units, including 56 studios, 84 one-bedroom, and 56 two-bedroom apartments, meticulously designed for comfort, elegance, and smart living. With prices starting from Dh629,000, studios span an area from 375 square feet onwards while sizes of one- and two-bedroom units span up to 979 square feet and 1,746 square feet, respectively.
Emirates Properties Group is offering an attractive and flexible payment plan: 10 percent down payment, 30 percent during construction, 10 percent upon handover, and 50 percent in three years post-handover, allowing seamless purchases.
The surge of wealthy home-buyers in Dubai is central to the growth of branded homes. The market's appeal lies in Dubai's multi-cultural lifestyle, safety, accessibility, economic resilience, and favourable position on the world map. Dubai now ranks among the top 20 wealthiest cities, hosting 81,200 millionaires, including 237 centi-millionaires and 20 billionaires. The number of wealthy people with a net worth exceeding US$100 million in Dubai is expected to grow two-fold by 2034, according to the 'World's Wealthiest Cities Report 2024' published by Henley & Partners in collaboration with New World Wealth.
Properties like Azha Millennium Residences will help maintain the supply level in the long run as the market foresees rising demand due to the influx of High-Net-Worth-Individuals (HNWIs) by the next decade.
Mohammed R. Hegazi, Managing Director of Emirates Properties Group, said, 'Azha's launch takes place at a time when Dubai is receiving a large number of super-wealthy settlers. Each residence is masterfully crafted to embody luxury living at its core. Millennium Hotels and Resorts adds pivotal value to homes, promising an unmatched experience with its signature hospitality services.
'This will widen the choice of ultra-luxury properties and help global ultra-high networth individuals to live in Dubai.'
Azha Millennium Residences features a suite of world-class amenities that resonate with the opulent lifestyle of its residents. Ground level facilities include a swimming pool, BBQ area, lush garden, play areas, and a café lounge. On the rooftop, residents can access a health club, a pool offering scenic views of JVT, a lounge, indoor cinema, and entertainment room. Moreover, residents can experience hotel-style living with Millennium's premium hospitality services like concierge, round-the-clock security, in-room dining, housekeeping, valet parking, and additional wellness facilities. More than 300 designated parking slots across four podiums are available.
Strategically located in Jumeirah Village Triangle, Azha Millennium Residences is in close proximity to some of Dubai's iconic landmarks, including Miracle Garden, Mall of the Emirates, Dubai Autodrome, Palm Jumeirah, and Bluewaters Island.
Emirates Properties Group is a sustained player in UAE's residential real estate contributing a number of attractive projects to the country's diverse landscape. It is a key developer in Ajman where its portfolio includes a mix of low-rise residences, tall towers, and vibrant villa communities. It has expanded its footprint in Dubai and Abu Dhabi, with Azha Millennium Residences being its third launch in Dubai.
About Emirates Properties Group:
Emirates Properties Group is a leading real estate developer committed to delivering high-quality, design-led projects that enrich urban life and foster lasting value for investors, residents, and communities across the UAE.
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