Phase 1 of Azizi Riviera completely sold out

September 11, 2017 4:29 pm

Meydan one, Arial view

 Azizi Developments, a prominent developer in the UAE, has announced that phase one of the AED12 billion waterfront project Azizi Riviera is sold out on the first day of Cityscape Global 2017.

The developer has also sold 50 per cent of inventory of phase two of the project on the same day.

The project, which is located in the upscale Meydan One district, commenced construction in July this year, with the completion of phase one and two scheduled for the second half of 2018.

Once complete, the project will deliver at least 6,273 units of studio, one- and two-bedroom apartments situated along the Dubai Canal, with views of Downtown Dubai and other landmarks.

Farhad Azizi, CEO of Azizi Developments, said: “Following the success of our sales for phase one, we decided to launch phase two at Cityscape Global. We are delighted to announce that we have sold 50 per cent of our inventory for phase two on the first day of Cityscape, which comprises a large number of canal-facing properties.”

The Gulf’s Riviera

Riviera phase two comprises 17 buildings with more than 4,000 units sprawled across Meydan One.

Inspired by the French Riviera, the project collectively is made up of 69 mid-rise residential buildings of 13,000 units of studio, one- and two-bedroom apartments, a mega integrated retail district and one four-star and one five-star hotel.

Growing portfolio

Currently, Azizi Developments has delivered nine projects across its residential portfolio in Dubai and plans to deliver nine more by 2018. The next few years will be a period of continued expansion for the developer, who currently has 100 projects in the pipeline.

 

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By AMEinfo Staff
AMEinfo staff members report business news and views from across the Middle East and North Africa region, and analyse global events impacting the region today.



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