20/10/2017 – News / Azizi Developments / Dubai / Construction
Azizi prepares to launch $6.8bn mixed-use mega project in Dubai
Dubai real estate firm Azizi Developments has announced plans to launch a AED 25bn (US$6.8bn) mixed-use community project in the heart of Dubai by the end of the year.
The company revealed that the new mega project, whose name is yet to be announced, will have a distinctly British feel, with themes and elements influenced by contemporary UK culture and way of living. The development will comprise residential, commercial and retail space, with 105 mid-rise and high-rise residential buildings boasting 30,000 apartments.
“When we arrived in Dubai 20 years ago, I always had the desire to be part of this city’s success story,” reflected Mirwais Azizi, the Group Chairman at Azizi Developments, adding that the new project announcement comes as part of the firm’s commitment toward developing a city that has offered it many opportunities, including “secure investments and business environment, as well as excellent standard of living and education, and a world-class healthcare system”.
The new Azizi Developments project will be located in central Dubai with a construction area of 33 million square feet – twice the size of Azizi Riviera in Meydan One – and will include education facilities, retail outlets, hospitality, a shopping area and outdoor recreation spaces. Construction of the project is scheduled to begin in November and be completed before Expo 2020.
“The rules and regulations in Dubai have provided an ideal environment for business growth, establishing the city as a preferred destination for trade and property investments,” Mr Azizi continued. “His Highness Sheikh Mohammed bin Rashid Al Maktoum’s vision for the emirate to emerge as one of the top destinations in the world to reside in has set the benchmark for Azizi Developments’ unique projects across Dubai.”
The announcement comes off the back of the developer’s success at this year’s Cityscape Global and the sell-out of the Azizi Riviera Phase one and two canal-facing projects in Meydan One.