Azizi Developments, one of the private developers in the UAE, has announced that construction of Phases 3 and 4 of its flagship project, Azizi Riviera, is scheduled to begin this month. Construction of Phases 1 and 2 of the USD3.27 billion canal development in Meydan One began in July 2017. While Phases 1 and 2 will be completed in early Q1 2019, Phases 3 and 4 will be completed in Q3 2019. Once completed, the four phases will comprise a total of 16,000 apartments.
Mirwais Azizi, Chairman of Azizi Group, said: “The accelerating progress of Azizi Riviera represents the vision of the company to transform the cityscape of Dubai through rapid development. By introducing the long-awaited Azizi Riviera into the market, we aim to continue to enhance the community lifestyle offering of Dubai through our own style of combining mixed-use assets like residential, hotels, F&B and other retail developments.”
The waterfront project will commence 24-hour round-the-clock construction to achieve Azizi Developments vision to deliver projects ahead of schedule. “Our strategic partnership with Meydan and our expansion in the master development reflects our commitment to continue to raise the global profile of the Dubai real estate market. The line-up of new projects we will launch and deliver to Dubai real estate market this year makes 2018 the most exciting year for Azizi Developments to date,” Azizi added.
The Azizi Riviera is made up of 69 mid-rise residential buildings comprising studio, one, two and three bedroom apartments, a mega integrated retail district and two hotels. Inspired by the French Riviera waterfront lifestyle, the Azizi Riviera will contain contemporary features and a premium community lifestyle. The prime location also offers outdoor recreation and proximity to the business hub of Dubai including other leading attractions like the Meydan One Mall and the Meydan Racecourse, home of the Dubai World Cup - the world’s richest horse race.
The premier feature of the new development is a street museum and a mega-integrated retail district, which will consist of high-street brands as well as a variety of restaurants and entertainment options. The overall development will also offer access to paved walkways, water transport, yachting facilities and a marina. Since the start of the year, Azizi Developments has demonstrated a faster pace of development across the city. Both the USD95mn Aliyah Residences by Azizi in Dubai Healthcare City and the USD212mn Mina by Azizi on the Palm Jumeirah have progressed ahead of schedule and will be delivered by Q2 2018, in addition to other projects in Dubai Healthcare City, Palm Jumeirah, Al Furjan and Jebel Ali. Azizi Developments is the real estate investment arm of Azizi Group.
Established in 2007, the company’s diverse experience in the property market has led the value of its current portfolio in the emirate to over USD5billion and more than 100 projects at various stages of development.