Monday 18 February 2019

Azizi to start work on key phases of $3.2bn Dubai project

DUBAI, January 14, 2018

Azizi Developments, a leading developer in the UAE, said work is set to start next month on the third and fourth phases of its Dh12-billion ($3.26 billion) waterfront development, Azizi Riviera, coming up near Dubai Water Canal.

Inspired by the French Riviera, the Azizi project is collectively made up of 69 mid-rise residential buildings comprising studio, one- and two-bedroom apartments, a mega integrated retail district and a four and a five-star hotel. The project will be implemented within the Meydan One project.

The construction of the first two phases of the canal development in Meydan One is well under way and is likely to be completed in the first quarter of 2019, while the third and fourth phases will be ready by the end of next year, said the developer in a statement.

On completion, the four phases will have a total of 16,000 apartments, it stated.

Azizi Developments CEO Farhad Azizi said: "The consistency in Azizi Riviera's construction progress makes the start of 2018 a very exciting time for all of us. This destination project will enhance Dubai community lifestyle options through the introduction of mixed-use assets, such as hotels, residential, and retail developments."

From February, the waterfront project will witness round-the-clock construction to achieve the chairman Mirwais Azizi’s vision to deliver projects ahead of schedule.

"Last year was extremely positive for us with a steady pace of project construction and handovers, allowing us to further enhance our credibility in the market. This year is poised to be even better because of our continued growth and expansion, as well as the new projects we will introduce into the market,” stated Farhad.

The project's architecture, while drawing inspiration from the French Riviera waterfront lifestyle, will also contain versatile, contemporary elements.

Outdoor recreation and proximity to the business hub of Dubai and other leading attractions, including the Meydan One Mall and the Meydan Racecourse, home of the Dubai World Cup - the world’s richest horse race, further contribute to making it a sound return on investment, remarked the top official .  

A key feature of the new development is a mega integrated retail district which will consist of high street bridge brands, leisure and entertainment options.

It will also offer access to long paved pedestrian paths and water transport, yachting facilities and a proposed marina, among others.

The first two phases of the project witnessed high demand during Cityscape Global exhibition in September 2017 in Dubai.-TradeArabia News Service

Tags: Dubai | Azizi | waterfront project |

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