No Comments

Azizi digs in deep at Meydan project

Azizi Developments has taken a liking to the Meydan precinct … so much so it went ahead and bought 180 plots there in one go. These plots are being “amalgamated” into 76 buildings, ranging between ground plus six-storey (G+6) to G+9 structures. The developer is now working on a suitable timeline for the full-fledged off-plan sales launch. “These buildings will be closest to the mall and racecourse … the [Meydan One] mall project was very much a necessity in creating sufficient push for the Meydan location,” said Farhad Azizi, CEO. “It helps that Meydan is one location in the middle of the city and still virtually untapped. It’s so close to Downtown and Shaikh Zayed Road.” The Meydan investments came through just when Azizi was mulling strategies to expand on its current land bank. “We were even considering land in Abu Dhabi, Sharjah and Ajman,” the CEO said. “That’s when the Meydan possibility came before us and we took six plots, smaller ones next to Meydan Hotel. “We started getting more comfortable with the masterdeveloper and then upgraded our association into a strategic partnership. “We have received the initial approval on the concept. It’s an almost self-contained destination, with some commercial and three hotels. We are now in discussion on how many stars these hotels should be, whether we need a five-star or not.” The Meydan district itself is part of a sprawling MBR (Mohammad Bin Rashid) City, comprising 11 districts and “going all the way to Bab Al Shams”.

The recent launch of construction at the mall site has garnered a lot of developer and investor attention. According to market sources, there has been a spike in level of enquiries for properties there, including for projects that are complete or very near the finish line. Azizi is not waiting around to kick-start construction. It has already awarded Dhl billion worth of contracts for the main works on-site. As to the launch of sales, “It would be after summer — that’s a better time,” Azizi said. “We are already informing a lot of clients about the project, which will have units between 500-2,000 square feet and going up to 4,000 square feet for the duplexes. Prevailing price And what would the price range be? “We need to look at the prevailing market price and depending on what the situation is can undercut to sell quickly. Or sell at the prevailing price,” the CEO added. It’s an exercise we are planning right now “Every building has been contracted out separately … that’s as per the Dubai Municipality project mandate where every building is treated as a separate entity. “As a developer it helps me as well — if any one building project has a problem, the others will not be affected. Each of these has a construction timeline of 12-18 months. “We got contractors for the first and second phases and discussion are on for those to handle three and four. It’s good to have alternative contractors available if you need to build something to a different time frame.” The developer already has a full book in terms of projects. The combined sales value of ongoing and handed over projects is valued at just under Dh20 billion, with the handed over component being around Dh2 billion. Construction is key Of its project on the Palm, Azizi said “We had three plots that were amalgamated into two. Sales started slow and then picked up when construction progress was there for all to see. “As far as I am concerned, construction is key. We changed the contractor on the second and now the work is progressing. And when potential buyers saw work happening, sales picked up.” On whether it plans to tap the debt markets for its current projects, Azizi said “The Azizi Group has been helpful with the funding needs for the development activities. And a lot of the land was acquired in 2007 before the financial crisis. “The good thing about that is a lot of the land we own is already paid for. In 2013, we had 20 plots that were fully paid and the only thing needed was the start-up funds. When we focused on construction, sales came by itself. In case sales are down, the Group is there to fund. “If we need to look for outside support, we have overdraft facilities and can use them when needed. There may a time when we need bridge financing … some of the local banks have been very positive to that.” Image(s) text: -11111_1-3—4 =Mr Clint Egbe /Gulf News Archives Farhad Azizi at Cityscape Global 2016. Azizi said sales started at a slow pace but picked up as construction progressed. These buildings will be closest to the mall and racecourse … the [Meydan One] mall project was very much a necessity in creating sufficient push for the Meydan location.” Farhad Azizi CEO, Azizi Developments.

Source: Gulf Newspaper 

No Comments

Azizi sells 57% of new development before launch

Azizi Developments announced on Monday the high sales results for Azizi Aura, its first project in Downtown Jebel Ali. The developer has sold 57% of the residential apartments before its official launch, which will take place on 13 May at the Murjaan Ballroom within Madinat Jumeirah’s Conference and Events Centre, according to a press release. The upcoming 17-floor structure includes 479 residential units and comes in various sizes, with 349 studios, 87 one-bedroom flats and 43 two-bedroom units. Azizi Aura is part of the upcoming 38-building project in Downtown Jebel Ali.

Source: Decypha

No Comments

Azizi Developments Unveils Two Iconic Projects in Dubai Studio City

Azizi Developments, the fastest growing and award winning Dubai real estate developer has announced the construction plans for its upcoming luxury hotel apartments and residential building in Dubai Studio City, a member of Tecom Group.

The upcoming residential building, as well as the hotel apartments will comprise of 8 storey structures on the two Dubai Studio City plots. The distinctively-situated residential building will feature 80 one-bedroom, 95 two-bedroom, and 2 three-bedroom apartments (177 total units) with a retail area of 6000 square feet. The stylishly-designed hotel apartments will contain 70 one-bedroom, 83 two-bedroom, and 2 three-bedroom apartments (155 total units) with a retail area of 5266 square feet.

Farhad Azizi – Chief Executive Officer of Azizi Developments said: “This investment with TECOM Group marks a new milestone to expand our operations and offerings. The two plots in Dubai Studio City will create a unique living experience for residents and enable Azizi Developments to meet the growing demand for the highest quality homes in the market. At Azizi Developments, it is our continuous ambition to develop one-of-a-kind homes where countless memories will be created.”

As a dynamic and well-established community, Dubai Studio City is home to an array of residential, retail and commercial entities. Azizi Developments’ forthcoming project in Dubai Studio City will be an upmarket gated community, which suits the company’s

expansion strategy. In addition, the investment further cements the strength of the location for residential developments, maintaining positive momentum and expanding TECOM Group’s presence as a strategic business enabler.

Designed by Azizi Developments’ highly skilled team of architects, the formal composition of the building is inspired by Dubai’s culture of creative professionals. The balance of urban and green areas create an environment for residence to relax in and call home.

Source:Mena Herald

No Comments

Azizi forays into Studio City

Azizi Developments has announced plans for its upcoming luxury hotel apartments and residential building in Dubai Studio City. The residential building and hotel apartments will be eight-storey structures. Compiled from staff reports and Reuters

Source: Khaleej Times (English|Newspaper)

No Comments

Azizi Developments commits Dh1.6b on Dubai Healthcare City projects

Azizi Developments has picked Belhasa Projects to build three residential buildings — with 1,900 units — at Dubai Healthcare City. It follows an earlier project the developer launched in the same cluster, and takes the combined value to Dh1.6 billion.

Two of the buildings are 20 storey structures, while the other is a 18 storey one. The residences, which are located near a five-star hotel, will encompass studios, one- and two-bedroom apartments. “These residences encompass efficiently-designed apartments that cater to the health-conscious lifestyle of professionals and nuclear families,” said Farhad Azizi, CEO of Azizi Developments.

The company also has projects in Palm and recently took up land parcels in Meydan. These, numbering 180 plots, will be used for buildings of between six and 11 storeys. In fact, Azizi became one of the biggest bulk investors in that freehold destination.

Developers are now homing in on the Dubai Healthcare City cluster for residential options, more so now that the offices and speciality clinics have already established themselves. Going forward, there will be a lot more pitching up with their own offerings.

Source:Gulf News

No Comments

Mid-income housing features high at Cityscape Abu Dhabi 2017

ABU DHABI: A number of developers have displayed a series of products for middle-income segments at the Cityscape Abu Dhabi 2017, the region’s premier real estate forum. The event has secured a massive turnout over the three-day event.

Up to 100 companies from around 13 world countries are showcasing in excess of 400 property projects during the exhibition, considered the world’s largest event specialising in real estate.

The Cityscape Abu Dhabi is showcasing a diverse collection of housing, office and tourist products that cater to the needs of large segments of society seeking real estate investments.

The exhibition provides an ideal environment for reviewing issues of topical relevance to the realty market in the Gulf region, providing mouthwatering offers conducive to ensuring sustainable development in the real estate platform.


RAK Properties, emirate’s largest property developer listed on the Abu Dhabi Stock Exchange, has concluded another successful year at Cityscape Abu Dhabi creating a buzz ahead of Abu Dhabi project’s official launch in the coming months.

Expected to be officially announced during the next two months, the developer showcased its upcoming development during the show.

“In the coming months we will announce our latest foray in Abu Dhabi and given the level of interest it has already received ahead of its official launch, I am optimistic it will gain a similar level of demand as RAK Towers,” said Mohammed Sultan Al Qadi, Managing Director and CEO, RAK Properties.


Azizi Developments, a leading UAE-based real estate developer with global reach into international markets, featured 15 existing projects in Al Furjan, Dubai Healthcare City and the Palm Jumeirah at the Cityscape Abu Dhabi 2017. They provided a series of impressive construction updates to the public at the property show.

Azizi Developments attracted thousands of local and international visitors to their booth that featured its latest developments, offers and exclusive promotions.

In Al Furjan, the developer has fully completed and handed over Liatris, Feirouz, Yasamine, Orchid and Iris with many more Al Furjan projects to be delivered in the coming months. Azizi Developments first project on the luxurious Palm Jumeriah, Royal Bay, is nearly complete and ahead of schedule. The remaining projects will be ready for handover between Q2 2017-Q1 2019.

Farhad Azizi, CEO of Azizi Developments, commented, “The market is still solid for the development of the right products at the right time. The incredible demand we have witnessed at Cityscape Abu Dhabi has increased our appetite to launch even more projects. We base our decision making for addressing the needs of various markets on in-house research and in-depth analysis. As one of the largest real estate platforms in the region, Cityscape Abu Dhabi provides Azizi Developments the opportunity to exchange ideas, concepts and understanding of Abu Dhabi’s potential.”

Source: Gulf News

No Comments

ZAWYA: Azizi Developments showcases newest properties at Cityscape Abu Dhabi 2017

News Source: ZAWYA

Azizi Developments, a leading UAE-based real estate developer with global reach into international markets, will feature 15 existing projects in Al Furjan, Dubai Healthcare City and the Palm Jumeirah at the Cityscape Abu Dhabi 2017. The property show will be held from April 18thto the 20th at the Abu Dhabi National Exhibition Centre. Azizi Developments will feature their newest projects in Hall 7 at Stand: 7-F-10.

It has been a banner year for the developer, whose diverse portfolio consists of 20 residential and fully-furnished, fully-serviced apartments in three strategic locations: Al Furjan, Dubai Healthcare City and Palm Jumeirah. The developer recently acquired 186 plots from Meydan Group to construct low- to mid-rise residential and retail projects. In addition, Azizi will launch 50 new projects in 2017 and more than double the number of their current 500+ employees.

Farhad Azizi, CEO of Azizi Developments, commented, “As one of the largest platforms for experienced and aspiring real estate investors across the region, Cityscape Abu Dhabi provides Azizi Developments the opportunity to showcase our high-quality and efficiently-designed projects on the global stage. At the same time, the exhibition’s highly informative property and real estate conferences encourage us to continue participating annually.”

Catering to business professionals, government employees, executives, business owners of large and small entities and the up-market segment of society, Azizi Development will offer a variety of special promotions at the International Property Show. One of the new incentives at the property show is a mortgage pre-approval of AED 3325 per month where if the client books at Cityscape Abu Dhabi, they will receive a free upgrade to a flexible space apartment. UAE Nationals will also be able to book without any payment. In addition, there will be one per cent booking fees and 50 per cent off OQOOD (contract registration fees) and flexible payment plans.

“At this year’s edition, we will be showcasing our current developments in Al Furjan and the Palm Jumeirah as well as providing a special preview of our upcoming residential projects in Dubai Healthcare City. We are driven by the affirmative growth of the real estate and property sectors across the UAE, encouraging us to meet the demand while providing customers will an unforgettable experience,” concluded Farhad Azizi.

With EXPO 2020 approaching, there has been heavy development and considerable investment in the area which is in close proximity to Al Furjan. Azizi Developments serviced and residential apartments in Al Furjan offer sophisticated interiors, providing a relaxed, tranquil life style. With terraces or balconies and generous landscaped areas, each floor plan ranges from 1000 to 2000 square feet. All apartments feature European-style kitchens with high-end finishes, surrounded by a family community setting. Azizi has already handed over Azizi Orchid, Azizi Iris, Azizi Yasamine, Azizi Liatris and Azizi Feirouz with the remaining projects ready for handover between Q2 2017-Q1 2019.

Azizi Mina and Royal Bay at Palm Jumeirah offer unobstructed sea views, providing fully-furnished and serviced residences with high-end amenities. Investors and end-users will have private access to the beach with views of Dubai’s majestic skyline. Both properties feature penthouses with exquisitely-decorated interiors, modern finishing as well as state-of-the-art fitness equipment and children’s play areas. The Palm Jumeirah projects will be developed and handed over to residents between Q3 2017-Q3 2018.

Cityscape Abu Dhabi acts as an annual meeting place for the global real estate industry, encouraging and supporting real estate growth by showcasing important developments and providing access to unique investment opportunities. It is also supported by industry-leading conferences that provide a platform to leading real estate experts. In 2016, 91 exhibitors and 67 countries were represented with over 17 thousand participants. Projections for 2017 expect to exceed those numbers.