Azizi sets target of $46.2bn by 2010
Dubai, August 12, 2008
Azizi Investments, a leading property developer has more than 50 projects in hand and has set a target to achieve project value of Dh170 billion (46.2 billion) by end of 2010, the company said in a report.
The company has bought 11 residential plots totalling 627,000 square feet in Dubai World Central recently, according to the Gulf News report.
Another 677,000 sq ft plot developed by Nakheel in Mina Rashid was acquired by Azizi where it is planning a Dh1.8 billion, 45-storey mixed-use tower.
Azizi plans to develop 55 projects in Dubai for which it is trying to buy 15 million square feet in addition to more plots in Mina Rashid, said Farhad Azizi, vice-chairman Azizi.
It has acquired rights to build the sole five-star hotel in Ajman’s Emirates City.