YOUR GUIDE TO SMARTER, HIGHER-EARNING PROPERTY MANAGEMENT
Short Term Rentals in Millennium Binghatti Residence
A 24-storey residential tower by Binghatti Developers on the Dubai Water Canal in Business Bay: unit types, amenities, transport links and area rental data for owners considering short-term rental.
Floors
24
Developer
Binghatti Developers
Completed
2021
Units
Studio-2BR apartments
Area
Business Bay
About Millennium Binghatti Residence
Millennium Binghatti Residence is a 24-storey residential tower in Business Bay, developed by Binghatti Developers along the Dubai Water Canal. Completed in 2021, the building rises 19 residential floors above a four-storey podium, adding a canal-facing address to one of Dubai's most established mixed-use districts.
The building's name traces back to a real branding partnership: Binghatti Developers and Millennium Hotels & Resorts announced a hospitality-inspired collaboration at Cityscape Global in 2018, which shaped the tower's amenity language and design cues. Millennium Binghatti Residence itself is standard freehold residential, individually owned apartments, not an operated hotel-apartment building, so owners hold and let their units independently rather than through a hotel-management structure.
Interiors run across studio, one and two-bedroom apartments, fully furnished, with a four-storey retail podium at the base of the tower and panoramic elevators serving the residential floors above. That combination of a genuine hospitality-brand pedigree and standard freehold ownership is one of the more distinctive features of Millennium Binghatti Residence within Business Bay's newer canal-front stock.
Location & Nearby Landmarks
Millennium Binghatti Residence sits directly along the Dubai Water Canal in Business Bay, giving many of its apartments canal-facing views over the water. Downtown Dubai, including the Dubai Mall, is roughly a five-minute drive away, and the Burj Khalifa is about 17 minutes by car, putting the tower within easy reach of Downtown's landmarks without the address premium that comes with living inside Downtown itself. For a broader read on what Business Bay offers as a rental market beyond this one building, Royale Stays' guide to Airbnb management in Business Bay covers the area in more depth.
DIFC is roughly five to 15 minutes away depending on traffic and exact route, making Business Bay a practical base for residents who work in Dubai's financial district. City Walk is about 12 minutes by car, Dubai Marina is closer to 22 minutes, and Dubai International Airport is roughly 18 minutes away, a fairly central position for a canal-front Business Bay address. Bay Avenue Mall, one of the district's main retail hubs, is also nearby, though Royale Stays has not confirmed an exact distance from this specific building.
Ahad Residences, another Business Bay tower Royale Stays has covered separately, sits in the same district and gives a useful point of comparison for owners weighing a canal-front address against an inland Business Bay one; see Royale Stays' guide to Ahad Residences for that building's own location and amenity detail.
Unit Types
Millennium Binghatti Residence offers fully furnished studio, one and two-bedroom apartments. Studios run roughly 435 to 715 square feet, one-bedroom units span approximately 810 to 1,265 square feet, and two-bedroom apartments range from around 1,315 to 2,145 square feet. Royale Stays has not confirmed a precise total unit count for the building: available sources give conflicting figures, so this guide describes the unit mix and size ranges rather than an exact total. No floor-plan diagrams are included here: floor plans are typically the developer's or broker's proprietary material, and Royale Stays has not been able to verify them independently for this guide.
Amenities
Millennium Binghatti Residence's amenities include a temperature-controlled, year-round outdoor swimming pool, a fully equipped fitness centre and health club, a sauna, and a sun terrace with landscaped gardens. Families are served by a dedicated children's play area, and the building operates 24-hour concierge and security coverage with CCTV throughout.
Central air conditioning runs throughout the building, and covered parking spans three basement levels. Panoramic elevators serve the residential floors above a four-storey podium that includes ground-floor retail, rounding out a specification that leans on the tower's hospitality-inspired design language.
Transportation & Access
Business Bay Metro Station, on the Red Line, is roughly a five to eight-minute walk from Millennium Binghatti Residence, giving residents a reasonably direct route into the wider Metro network without needing a car. The tower sits between Sheikh Zayed Road and Al Khail Road, Dubai's two main arterial routes, giving residents quick access to both without needing to cross the city first.
Rental & Price Trends
Royale Stays has not independently confirmed rents specific to Millennium Binghatti Residence in this pass, so the figures below describe Business Bay's rental market at an area level rather than this particular building. Per Bayut's Dubai Rental Market Report, using 2023 data, the most recently reliably sourced figures available, one-bedroom apartments in Business Bay averaged roughly AED 92,000 to AED 94,000 per year, while two-bedroom apartments averaged around AED 144,000 to AED 147,000 per year. Service charges specific to Millennium Binghatti Residence have not been independently confirmed via the DLD's Mollak index for this pass and are omitted here rather than estimated. Owners weighing a specific unit's earning potential against these area-level ranges can run their own numbers through Royale Stays' Dubai property ROI calculator.
Airbnb / Short-Term Rental Income Potential
Short-term letting anywhere in Dubai, including at Millennium Binghatti Residence, runs through a DTCM (Department of Economy and Tourism) holiday home permit, the same licensing requirement that applies regardless of building or area. An owner considering Airbnb at Millennium Binghatti Residence would need to hold that permit before listing a unit, in addition to confirming the building's own short-term letting policy. Royale Stays' guide to the Dubai holiday home permit covers what the process and fees generally involve.
Royale Stays does not currently have Millennium Binghatti Residence-specific booking data to draw on, so this section speaks to Business Bay generally rather than claiming a nightly rate or occupancy figure for this particular building. Units at Millennium Binghatti Residence are already listed for short-term rental by independent operators on established booking platforms, a genuine signal of real STR demand for the building rather than an untested assumption. In Royale Stays' experience managing short-term rentals across Business Bay, canal-facing studio and one-bedroom units with a genuine hospitality-inspired design pedigree, like Millennium Binghatti Residence's Millennium-branded amenity language, tend to stand out more easily in a district with a large and growing supply of comparable newer towers.
For an owner weighing whether Airbnb makes sense for a unit at Millennium Binghatti Residence, the practical starting points are the same as anywhere else in Business Bay: confirming the building's short-term letting policy, applying for the DTCM permit, and pricing the unit competitively against comparable canal-front listings. Royale Stays manages the full furnishing, photography, pricing, check-in and guest communications process for owners who prefer not to handle it directly, and our guide to choosing the best Airbnb management company in Dubai sets out what to look for when comparing operators. Owners ready to move forward can submit their property for a management review to get a clearer read on its Airbnb potential.
Income context reflects Royale Stays' own managed-portfolio experience across Business Bay, reviewed by Chris Veinbaums, DTCM-licensed operator.
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