Azizi Developments’ Farishta records sale of all 284 units

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Azizi Developments’ Farishta records sale of all 284 units
Azizi Developments’ Farishta records sale of all 284 units

  • 74% of units were sold to UAE residents
  • Customer represent 44 different nationalities

Dubai, UAE, 23 December 2019: Azizi Developments, one of the leading private developers in the UAE, marked another important milestone by selling out the full inventory of Farishta, its soon-to-be-delivered residential tower in Al Furjan — an up-and-coming strategic location with excellent connectivity.

74% of Faristha’s elegantly designed units were sold to UAE residents and 8% to investors living in the Kingdom of Saudi Arabia, with the rest having been purchased by customers living across 19 other countries. Units were sold to 44 nationalities, with 27% of customers holding UAE passports. 

Farishta is situated in one of the high-growth corridors of new Dubai — a prime location that boasts easy access to the Dubai Expo 2020 site, Ibn Battuta Mall, Dubai Marina, and JBR among many other of the emirate’s points of interest. With reports of over 25 million anticipated visitors to Dubai set to catalyse the real estate growth in the build-up to Expo 2020, Farishta’s prime location sets it apart as one of the most lucrative developments in Dubai.

Farhad Azizi, CEO of Azizi Developments, said: “It fills us with pride to know that Farishta will be home to tenants from different walks of life. This achievement perfectly illustrates our mandate to drive foreign direct investment into the Emirate — especially with Expo 2020 just a few months away — and echoes our mission to contribute to the economy of this great nation and help to position it at the zenith of the world map. Additionally, this milestone adds to our legacy of developing world-class residential destinations and enriching lives through well-connected properties that not only offer outstanding amenities and lifestyle options but also foster a true sense of belonging. Farishta is one of the many remarkable projects that we are developing in this outstanding location, with 12 already having been delivered, several others to be handed over soon, and many more to come.”

Farishta comprises 284 exceptional residences in a mix of 137 studios, 124 one-bedroom, 15 two-bedroom apartments as well as eight spacious penthouses. The development is a reflection of Azizi Developments’ philosophy of creating world-class properties embedded in master-planned communities that are carefully thought-out, to foster a community lifestyle and create healthy, balanced social settings that promote human comfort and leisure, as well as aesthetics. Azizi Developments, via its community management provider VCM, continuously seeks to further enhance the lives of its residents through planned additions to the development, such as further recreational options, events, and through the implementation of a multitude of sustainability best practices. Across its communities, Azizi strives to develop smart and sustainable properties that achieve a perfect balance between economic and social development.