Azizi Developments, a fast growing real estate developer operating in the UAE for over a decade, has announced that it will reveal Phase II of its AED12bn waterfront project – Azizi Riviera – at Cityscape this year, along with an attractive offer of eight per cent net rental guaranteed return for buyers for three years.
Following the tremendous success of the launch of the first phase of the waterfront project earlier this year, the developer decided to launch sales of the second phase valued at AED3bn. Phase II comprises 17 buildings with more than 4,000 units sprawled across Meydan One, one of Dubai’s most prestigious and strategically located neighbourhood.
Inspired by the French Riviera, the project collectively is made up of 69 mid-rise residential buildings of 13,000 units of studio, one-bedroom and two-bedroom apartments, a mega integrated retail district and a four and a five-star hotel.
Farhad Azizi, CEO of Azizi Developments, said: “We are delighted to reveal Phase II of Azizi Riviera at one of the most prominent real estate exhibitions in the region and showcase our growing portfolio of properties to investors and buyers. We are seeing a growing demand for upscale residential real estate in prime locations across the city, and Azizi Developments is committed to meeting this demand by delivering world class unique community lifestyle projects with flexible payment plans for direct buyers and investors.”
In addition to Azizi Riviera, Azizi Developments will also be showcasing a number of its other projects at Cityscape 2017, including Farhad Azizi Residences in Dubai Healthcare City, Azizi Mina serviced apartments on the Palm Jumeirah and residential developments at Al Furjan. The total value of all projects that will be showcased at Cityscape 2017 amounts to approximately AED 20 billion.
Azizi Developments is known for creating iconic urban communities and as a result, the company has witnessed sharp growth in sales in neighbourhoods like Al Furjan in the last three years, where it has delivered over 500 units.
The developer had also completed a luxury residential property on The Palm Jumeirah – Azizi Royal Bay – this year, with 90 stylishly designed sea-facing apartments including 58 one-bedroom, 30 two-bedroom and two 3-bedroom penthouses.
Azizi added: “Expo 2020 is encouraging developers to establish unique community projects in emerging locations across the city and we are excited at the opportunity to expand our portfolio in new and emerging locations in Dubai. We are expecting a robust response across our portfolio of properties, especially focused on the most talked about waterfront development, Azizi Riviera, driven by Dubai’s investor-friendly environment and improved regulatory landscape.”