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Dubai, August 15, 2017: Azizi Developments, a fast growing real estate developer operating in the UAE for over a decade, has announced that it has commenced international sales of its recently launched AED12billion Azizi Riviera project with the opening of its sales office in India.
Situated in the prestigious Mohammed Bin Rashid Al Maktoum City Meydan One project, Azizi Riviera comprises 69 mid-rise residential buildings of 13,000 units of one-bedroom, two-bedroom and studio apartments, a mega integrated retail district and a four and a five-star hotel.
The office is strategically located in Chennai, the capital city of the southern state of Tamil Nadu. The city is witnessing large-scale development of industries such as IT, banking, finance and manufacturing and is set to record rapid GDP growth over the next few years. The newly opened office will meet the demand from Indian buyers and investors looking for real estate exposure in Dubai to counter burgeoning property prices in the key metro cities in their home country.
“We have been encouraged by the positive response from Indian investors who are looking for attractive residential options in the city of Dubai. As for all property developers in the UAE, India is a key focus market for us since clients from the country are very familiar with the UAE market and remain one of its biggest investors,” said Farhad Azizi, CEO of Azizi Developments.
According to Dubai Land Department figures, total real estate investments in 2016 touched AED91 billion. Indians accounted for AED12 billion worth these investments. At 6,263 buyers, they also represented the highest number of foreign buyers.
“With the establishment of our office in Chennai, we can effectively explain our value proposition, and demonstrate our ability to develop and deliver high quality living spaces in one of the most dynamic cities in the world,” added Azizi.
The announcement follows the strategic partnership with the Dubai Land Department that will promote Dubai as an attractive location for real estate investments among investors in overseas markets including India. Both entities will jointly organise a number of property roadshows where many of Azizi Developments’ projects will be showcased. The developer will utilise these events to launch the subsequent phases of the sale of Azizi Riviera to international investors.
Apart from attracting foreign buyers, Azizi Developments also targets local customers through their bi-weekly sales events in Dubai on Tuesdays and Saturdays. The next event is scheduled for Aug 19, 2017 at the Sky Bubble Lounge in the Meydan Hotel.