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Azizi Developments hands over the gift to the VIP guests At Hatta Sports Club

Azizi Developments hands over the gift to the VIP guests (Mr. Adil Yousef Al bannay – Head of football companies, Mr. Ali Abdulla  – Executive Director Of Hatta Sports Club,  and Khamis Hashem – The Admin of football school in Hatta Sports Club)) at the 2nd Grassroots Football Festival at Hatta Sports Club.

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India’s cash games may hit Dubai property sales

Dubai property developers planning a sales offensive in India have suffered a setback as investors from the country reassess plans in the wake of demonetization.

It follows a move by the government to remove large denomination notes in a bid to tackle the black economy.

That cast a cloud over the Dubai Property Show in Mumbai this weekend, as developers expressed their concerns about the impact on Indian investor sentiment.

“I think the demonetisation exercise definitely has put other priorities for people to address, so their investment decision-making may have slowed down because they have this matter to deal with,” said Sanjay Manchanda, the chief executive of Nakheel, exhibiting at the three day show, which began on Friday.

Nakheel was focusing on promoting its twin-tower Palm 360 luxury hotel and residential project on the Palm Jumeirah, where homes are expected to be priced at up to US$5 million when they go on sale next year.

Indian investors account for about 11 per cent of Nakheel customers. They have bought property from the Palm islands developer estimated to be worth $2 billion.

Mr Manchanda said it would be “naive” to think demonetisation would not have an impact on business that would be generated at the exhibition.

India’s prime minister Narendra Modi last month announced a ban on 500 and 1,000 rupee notes, which took the Indian population by surprise. With restrictions put in place on cash withdrawals and exchange, Indians have been struggling to secure cash and the move has pushed the Indian rupee lower and led to forecasts for India’s economic growth to be cut.

Indians are by far the largest overseas investors in Dubai property, spending Dh7 billion in the first half of this year, according to the Dubai Land Department. Dubai home prices have been hit by oversupply. Analysts are expecting sales to British investors – Dubai property’s second largest overseas market – to be negatively impacted by the post-Brexit slump in the pound. India seemed to be a strong market for Dubai developers to turn to after that.

Bollywood actor Arbaaz Khan and the UAE ambassador to India, Ahmed al Banna opened the property exhibition, which is in its second year. But even Bollywood failed to draw the crowds on Friday, with footfall appearing to be subdued that afternoon, although there were expectations that visitor numbers would pick up over the course of the weekend.

“The timing was a little bit wrong,” said Saif Aslam Khan, the sales director of Azizi Developments, which was offering fully furnished apartments in Dubai starting from Dh550,000. “If this exhibition was a little bit before the demonetisation, we probably would have done much better than this.”

The developer had nevertheless managed to book two reservations for studio apartments a couple of hours into the show and was generating interest because of its relatively affordable price point, he added.

“There’s no doubt that it will have an impact on the overall mood in the market today,” said Nasser Amer, the vice president of Deyaar. “We cannot ignore something like this.”

But he said he remained “optimistic”, with the Indian market “having very high potential” and given that investments from India into the Dubai property sector had been rising in recent years.

Sandeep Salvi, an architect from Dubai was among the potential buyers at the show.

“Dubai is cheaper than the prime locations in Mumbai,” he said, adding that he was planning to spend about 20 million rupees on a two bedroom apartment in Dubai.

Sean McCauley, the director of agency services for Asteco, was representing Dubai developer Seven Tides, promoting projects including luxury hotel apartments on the Palm. He believed that demonetisation could in fact work in favour of Dubai.

“Some Indians might be looking to invest outside of India and diversify their investments abroad because there’s uncertainty about what might be coming,” he said.

Mr Manchanda said that he hoped that the impact of demonetisation would settle down and a “normal state will be restored fairly quickly”.

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Azizi Developments’ Top Management Visits Dubai Land Department

Azizi Developments’ Chairman, Mr. Azizi, and CEO, Mr. Farhad Azizi received an appreciation souvenir trophy by His Excellency Sultan Butti Bin Mejren, Director General of Dubai Land Department during their visit to Dubai Land Department Headquarters. In attendance, the Senior Advisor to Azizi Developments’ Chairman, Mr. Mohsen, and the Director of Business Development, Mr. Khider.

Azizi Developments’ Chairman, Mr. Azizi, and CEO, Mr. Farhad Azizi were received by His Highness Mohammed Bin Khalifa Al Maktoum, the Chairman of Dubai Land Department. In attendance, the Senior Advisor to Azizi Developments’ Chairman, Mr. Mohsen, and the Director of Business Development, Mr. Khider.

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Construction Week Magazine Interview With Farhad Azizi

Mr. Farhad Azizi, CEO of Azizi Developments, in an interview with “Construction Week” Magazine during an on-site visit of Azizi Developments’ residential project, Acacia Serviced Apartments in Al Furjan.

 

 

السيد فرهاد عزيزي، الرئيس التنفيذي لشركة عزيزي للتطوير العقاري  في مقابلة مع مجلة “كونستركشن ويك” خلال زيارة ميدانية لمشروع عزيزي “السكني، أكاسيا للشقق الفندقية في الفرجان

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Azizi Developments Announces 50 New Projects For 2017

DUBAI — Azizi Developments a leading UAE-based real estate developer with global reach into international markets — announced an unprecedented launch of 50 new developments, which will comprise of residential, commercial and retail space in 2017. The announcement of such a high number of projects, ahead of the festive season and the New Year, demonstrates the confidence that Azizi Developments has in Dubai’s property and real estate market. The 2017 project plan is in line with the overall group strategy to invest in solid markets which have proven depth and stability.

Farhad Azizi, CEO of Azizi Developments, commented, “The rapid development of local infrastructure shows the full commitment of the Dubai government in its delivery of announced plans.” The Dubai Water Canal inaugurated on November 9, is a recent example of the government’s commitment to plan for Expo 2020. “The government systems are in place to encourage development from a micro perspective. When evaluated at the macro level, we are finding that currencies are in our favour; in addition, the new government changes in the United States and Europe are directing investments towards this region. This launch not only reflects our success but showcases Dubai’s booming real estate market,” added Farhad. — business@khaleejtimes.com

 

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Gulf Property Magazine Interview With Farhad Azizi

Mr. Farhad Azizi, CEO of Azizi Developments, in an interview with “Gulf Property” Magazine during the pre launch sales event of Azizi Developments’ latest project – “Azizi STAR”.

السيد فرهاد عزيزي، الرئيس التنفيذي لشركة عزيزي للتطوير العقاري، في مقابلة مع مجلة
” Gulf Property ”
على هامش حدث اطلاق مبيعات احدث مشاريع عزيزي للتطوير العقاري، مشروع ” عزيزي ستار”

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Al Furjan Pavilion Opens For Business

Nakheel on Sunday announced the inauguration of the Al Fujran Pavillion, it’s fifth mall project of 2016.

The centre — the first of two retail hubs to be located in the residential development — consists of 24 shops, restaurants, and services spanning 87,000 sq ft of leasable space, and a car park that can hold 300 vehicles.

Retailers already include a Spinneys supermarket, several food and beverage outlets, a bookstore, and a salon. A sports and recreation hub, a medical center and a nursery are also scheduled to open soon.

“Al Furjan Pavilion is the heartbeat of this vibrant community and an ideal milestone to mark the end of what has been a momentous year for Nakheel,” stated Ali Rashid Lootah, Chairman of Nakheel.

Al Furjan, located near Jebel Ali, currently houses approximately 5,000 people and is expected to grow it population to 65,000 when completed.

The second Nakheel Pavilion at Al Furjan, including a mosque, restaurants, a gym, a nursery and a number of shops is already under construction and is expected to open early next year.

With a development value of Dh110 million, the hub is Nakheel’s fourth community retail centre and is expected to bring the company’s 2016 retail project delivery value to more than Dh1.5 billion.

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