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The developer’s sales to Saudi Arabian investors, as well as to those from Egypt and Europe, have surged notably in recent weeks
Dubai, United Arab Emirates, 28 September 2021: Azizi Developments, a leading private developer in the UAE, has reported a surge in the number of Saudi buyers since the flights between the two countries were resumed in September.
The Saudi travel ban has been in effect since July as the Kingdom had suspended travelling to and from a number of countries in the world, based on continuous monitoring of the epidemiological situation locally. The demand from Saudi buyers has increased by more than 40 per cent in the month of September. Demand from Egyptian and European customers has also increased by 34 per cent and 28 per cent respectively, compared to previous months.
Addressing these significant surges, Mr Farhad Azizi, Chief Executive Officer at Azizi Developments, said: “This noteworthy surge now, as travel resumes, is a sign of pent-up demand manifesting into property sales. The increase demonstrates how well we, as a developer and as a country, have met the needs of investors. The market will be boosted further as Expo 2020 begins, and with Saudi Arabia having been the second-largest source of tourists to Dubai in 2020 after India. All of our stakeholders may now look forward to a successful and prosperous future.”
One of its many projects that Azizi’s efforts are reflected in is Riviera – Azizi’s French Mediterranean-inspired residential and commercial community in one of the most sought-after destinations in Dubai – MBR City. Designed to introduce the French-Mediterranean lifestyle to the emirate, which is not merely about architectural art but also about a certain ‘joie de vivre’ — a celebration of life, an exultation of spirit, Riviera represents a new landmark destination.
Riviera, a stylish waterfront-lifestyle destination, is planned to comprise 71 mid-rise buildings with approximately 16,000 residences upon its completion that are conveniently located in the midst of all the business, leisure and retail hubs of the city. It features three districts: an extensive retail boulevard, the lagoon walk with artisan eateries and boutiques, and Les Jardins — a vast, lush-green social space. Riviera is also host to the world’s second largest lagoon - its very own 2.7km-long body of clean, desalinated water that residents can swim in.
With its strategic location near the upcoming Meydan One Mall and the Meydan Racecourse — home of the Dubai World Cup — as well as Dubai’s most noteworthy points of interest, Riviera represents one of Azizi Developments’ most coveted projects.