In a large bowl, mix warm water, warm milk, olive oil, and sugar. Add in the active dry yeast, salt, and all-purpose flour and mix to combine.
Transfer the dough onto a floured surface and knead until a smooth, elastic dough forms. You can use a stand mixer or knead by hand for about 8-10 minutes. Cover the bowl with a plastic wrap and let it rise in a draft free space such as an off oven for 45 minutes, or until doubled in size.
Punch down the dough, transfer it to a floured surface, and divide it into 30 equal pieces. Flatten each piece slightly, place a piece of cream cheese in the center, and pinch the edges to seal. Roll each into a smooth ball. Repeat with the remaining dough and cream cheese pieces.
Arrange the dough balls in a greased pan (16-inch round, 9x13, or two smaller pans), leaving a little space between them for rising.
Cover the pan loosely with a kitchen towel and let the buns rise for 15 minutes while preheating the oven to 375°F (190°C). This second rise helps create light, fluffy honeycomb buns.
Brush the top of the dough with egg wash. Sprinkle with sesame seeds and nigella seeds. Bake for 25 to 30 minutes or until golden brown. If needed, turn on the broiler for 3-5 minutes for extra color, make sure to keep a close eye.
Remove from the oven and drizzle with honeyed syrup while hot and allow it to seep into the bread. Serve warm.