Gulf Construction Online - Azizi records major milestones in Q3

Real Estate

Azizi Developments’ project at Meydan ... well under way.

Azizi records major milestones in Q3

01 October 2019

Azizi Developments, one of the leading private developers in the UAE, has achieved major construction milestones during the third quarter of 2019.

This year alone, Azizi has casted over 117 slabs, poured over 165,000 tonnes of concrete, erected over 45 cranes, and constructed over 1.3 million sq ft with a monthly average building progress of nearly five per cent and over 5.9 million recorded man-hours.

Azizi’s projects across Meydan, Al Furjan, Downtown Jebel Ali, Palm Jumeirah and Dubai Healthcare City are well under way, with construction progressing swiftly.

Following a location-based pricing strategy, all of Azizi’s projects are situated in highly strategic, up-and-coming locations along the high-growth corridors of the emirate, offering ease of access to business and leisure attractions, increasing rental yields and strong returns.

CEO Farhad Azizi says: “With our core pillars of customer-centricity and transparency, it is of utmost importance to us to ensure that our customers are kept up-to-date on the progress of their homes. We have marked 2019 as our ‘Year of Construction’, with an emphasis on quality development and timely completion - a promise that we are well on track to deliver on.”

Azizi points out that the recent announcement by Sheikh Mohammed pertaining to the establishment of the Higher Real Estate Planning Committee will lead to greater innovation, transparency, and value-added supply with less duplication, resulting in a far more balanced real estate landscape.

“This ideology will translate into an environment that is conducive to investments,” he adds.

With reports of over 25 million expected visitors to Dubai set to catalyse the real estate growth in the build-up to Expo 2020, Azizi’s properties will more than cater to the anticipated uptick in demand.

Its key Al Furjan projects – Star, Shaista, and Samia – recorded 70, 72, and 89 per cent construction completion respectively, while Farishta stands at 92 and Plaza at 88 per cent besides Aura in Jebel Ali at 60 per cent.

Farishta, comprising 284 residences in a mix of 137 studios, 124 one- and 15 two-bedroom apartments and eight spacious penthouses, is on-schedule for delivery and expected to be handed over in Q4, says the Dubai developer.

Part of Azizi Developments’ impressive line-up of over 20 projects in Al Furjan, Farishta’s external works are now more than 70 per cent complete.

Farishta, situated in the high-growth corridor of new Dubai, is in a prime location that enjoys easy access to the Dubai Expo 2020 site, Ibn Battuta Mall, Dubai Marina and JBR, among many other points of interest.

According to Azizi, Mina has reached a construction milestone of 68 per cent, while Aliyah in Dubai Healthcare City was completed earlier this year.

Construction at Riviera is also well on track, with Phase One having reached 53 per cent, and phases Two and Three having marked 35 and 22 per cent completion respectively, he adds.

Meanwhile, Azizi Developments last month launched new units at its Creek Views project in Dubai Healthcare City.

Creek Views’ 100 per cent freehold residences are designed to cater to the rising demand for residential projects in Dubai Healthcare City Phase 2. The 20-storey development features 634 residences, comprising 396 studios, 218 one- and 20 two-bedroom units, as well as 33,341 sq ft of premium retail space, with 24 per cent of its construction already having been completed.

Overlooking Dubai Healthcare City, Creek Views boasts stunning panoramic views of the iconic Dubai Creek and the picturesque Downtown Dubai skyline. Situated on Al Khail Road, seven minutes away from Dubai International Airport, eight minutes from Dubai Mall and nine minutes from Business Bay and DIFC, the development has all major business, leisure and retail hubs in its vicinity.

Farhad Azizi, CEO of Azizi Developments, says: “This exceptional development is one of the very few freehold residential projects in the second phase of Dubai Healthcare City, and perfectly caters to the high demand for quality homes in this blossoming area. Creek Views embodies the rapid progression and forward-looking spirit of the great city of Dubai.”

Studio prices start at Dh522,000 ($142,090), while one- and two-bedroom unit prices begin at Dh848,000 ($230,829) and Dh1,756,000 ($477,990) respectively.