UAE-based developer Azizi said that it noticed a significant bounce in real estate deals last month, with December figures rising up nearly a quarter of its yearly sales.
Lagging behind the overall quiet sentiment of the global real estate market because of coronavirus-induced challenges, Azizi Developments declared sales for the last month of 2020.
The company, which in August declared plans to invest more than AED3.5 billion($953 million) in delivering 45 buildings across Dubai over the upcoming two or three years, said it’s December performance paved the way for a “promising 2021’ in regard to both sales and construction progress.
The construction includes developing 14 and 22 buildings in Riviera phase 3 and 4 respectively, its three path buildings in MDR City, two projects in Dubai Healthcare City, and four projects in Al Furjan.
Azizi Developments said it recorded noteworthy sales across a number of projects in December, including Riviera, Al Furjan, Mina on Palm Jumeirah, and Creek Views I and II in Dubai Healthcare City.
The developer’s bargains raised by over 60 percent as compared to November and collected over 22.5 percent of the total sales in 2020, with Riviera’s share being at the utmost 70 percent.
Riviera, a waterfront-lifestyle destination situated in the heart of Mohammed bin Rashid City, will upon its completion contain 71 mid-rise buildings with more than 16,000 residences.
The project contains three districts – an extensive retail boulevard, a canal walk with artisan eateries and boutiques, and Les Jardins — a lush-green social space.