Dubai's ambitious goal to propel realty market value to Dhsı trillion

Under the patronage of 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.

- Staff Reporter, Gulf Today

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 Dhs1 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).

Being developed by Emirates Properties Group, one of the large property developers in the UAE, the Dhs350 million Azha Millennium Residences will deliver an exquisite collection of 196 Millennium Hotels and Resorts-branded apartments and curated retail spaces upon completion in Q4 2027.

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.