Dubai-based Binghatti Developers has revealed that it has launched the second phase of sales of its $109 million Millennium Binghatti Residences waterfront project.

Binghatti values the second phase at $36.75 million of a project it says is comparable to its own Millennium Hotels and Resorts. The 29-storey Millennium Binghatti Residences comprises 230 units including studio, one-bedroom and two-bedroom apartments and is being constructed by Dubai’s Water Canal in Business Bay. It is expected to be completed by Q4 2019.

“We are very pleased to launch the second sales phase of Millennium Binghatti Residences after the success observed during the first phase. Our latest project is a wise investment for both regional and international investors, with residents set to become part of a thriving community,” said Muhammad BinGhatti, CEO and Head of Architecture at Binghatti Developers. “The success observed during the first phase of the project’s sales strengthens the city’s reputation as a safe-haven for property investments.”