Introduction to Azha Millennium Residences
Under the patronage of Sheikh Rashid bin Humaid Al Nuaimi, chairman of the municipality and planning department in Ajman, Emirates Properties Group has launched Azha Millennium Residences, an ultra-luxury brand with a mixed-use development in Jumeirah Village Triangle (JVT), Dubai.
Project Overview
The Azha Millennium Residences, developed by Emirates Properties Group, will deliver an exquisite collection of 196 Millennium Hotels & Resorts brand apartments and curated retail spaces in the fourth quarter of 2027. This project supports Dubai’s ambitious goal to bring the real estate market value to DH1-Billion, an important indicator of the Dubai strategy of the real estate sector.
Market Growth
In 2024, the Emirate recorded transactions of more than 13,000 brand units, an increase of 43 percent compared to 2023. Dubai currently has 43,000 houses in 132 high-end developments in its inventory and will increase the inventory by more than twice in the next five years. The growth in wealthy home buyers in Dubai is crucial for the growth of branded residences. The attraction of the market lies in Dubai’s multicultural lifestyle, security, accessibility, economic resilience, and favorable position on the world map.
Project Features
Azha Millennium Residences offers 196 units, including 56 studios, 84 one-bedroom, and 56 two-bedroom apartments, carefully designed for comfort, elegance, and smart living. With prices starting from 629,000 DH, the studios have an area of 375 square feet, while the one and two-bedroom units have areas of up to 979 square feet and 1,746 square feet, respectively.
Payment Plan
The Emirates Properties Group offers an attractive and flexible payment plan: 10 percent down payment, 30 percent during construction, 10 percent after handover, and 50 percent in three years after handover, enabling seamless purchases.
Market Demand
The increase in wealthy home buyers in Dubai is driving the growth of branded residences. Dubai is now one of the 20 richest cities, hosting 81,200 millionaires, including 237 centi-millionaires and 20 billionaires. The number of wealthy individuals with net assets of more than $100 million in Dubai is expected to grow twice by 2034.
Project Location
Azha Millennium Residences is strategically located in Jumeirah Village Triangle, near iconic Dubai landmarks such as Miracle Garden, Mall of the Emirates, Dubai Autodrome, Palm Jumeirah, and Bluewaters Island.
Developer Overview
Emirates Properties Group is a persistent player in residential properties in the United Arab Emirates. It is a major developer in Ajman, with a portfolio that includes a mix of low-rise houses, high-rise towers, and villa communities. The group has expanded its footprint in Dubai and Abu Dhabi, with Azha Millennium Residences in Dubai being its third launch.
