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Dubai, 11 December 2017: Azizi Developments, a fast growing real estate developer operating in the UAE for over a decade, has announced the completion and handover of two premium serviced apartment projects in Al Furjan – Candace Acacia Serviced Residences by Azizi, and Candace Aster Serviced Residences by Azizi valued at AED 460 million. The projects were completed in a short span of 20 months.
Candace Acacia is valued at AED 240 million and spans a construction area of 335,246 square feet and includes 316 units of studio and one-bedroom apartments. Meanwhile, Candace Aster is valued at AED 220 million with a construction area of 259,757 square feet and includes 227 units of studio and one-bedroom apartments.
Both developments offer around-the-clock amenities and accessibility to key parts of the city, with restaurants, retail, cinema and schools in the vicinity. Both projects have used premium materials and the interiors have been carefully crafted to deliver a design that is urban yet timeless. Al Furjan is one of Dubai’s fastest growing residential neighbourhoods, with easy access to Ibn Battuta Mall, Jebel Ali Free Zone and the Expo 2020 site. The new metro line named Route 2020 will be a 15 km extension of Dubai Metro's Red Line to the Dubai Expo 2020 venue. It will serve seven additional stations and will connect Al Furjan to Dubai Investment Park, Discovery Gardens, Jumeirah Golf Estates and will eventually service the Al Maktoum International Airport. The metro extension forms part of RTA’s strategy to increase public transport services to new and existing communities across Dubai, thus making Al Furjan an attractive return on investment for buyers and investors.
Farhad Azizi, CEO of Azizi Developments, said: “Candace Acacia and Candace Aster were conceptualised to meet the growing demand for premium living spaces in Al Furjan. Serviced apartments are an important category for Azizi Developments and one that we will aggressively tap into in the coming years in emerging residential neighbourhoods in Dubai.
“In this regard, we have seen that Al Furjan is emerging as a premier residential real estate destination in Dubai, offering a comfortable community lifestyle to residents. With Dubai’s emergence as a regional hub for business, tourism and events such as the Expo 2020, we expect the demand for international-level serviced residential apartments to only increase in the future.”
Since the start of the year, Azizi Developments has demonstrated a faster pace of completed projects. In the last three years alone, the property developer has delivered over 800 units across eight projects in Al Furjan, and is expected to complete a further nine projects in the area before 2020.