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CNBC interview with Azizi Developments CEO, Mr Farhad Azizi

Azizi Developments CEO, Mr Farhad Azizi, comments on the Dubai real estate market sentiment in this CNBC interview. See the English translation below: Though there is much talk in the market about oversupply, we at Azizi Developments do not subscribe to that notion as our daily sales volume ranges between AED 20 million – AED 25 million.Even on Fridays, we are selling properties worth AED 10 million – AED 15 million. Without the existent demand, we would not be achieving such great sales numbers or launching new projects.As of December 2018, prices had started to increase, recovering from reaching its lowest point earlier in the year. Now is the best time for people to purchase properties and so I also advise and encourage tenants to look into purchasing options, especially with the abundance of payment plans available for them; the market is on an upward growth trajectory.Thanks to the improving market sentiment, our recently launched project in Dubai Sports City is priced at AED 100 higher per square foot. We believe the demand will only get better the closer we get to Expo 2020.