AED5.6 billion ($1.52 billion) worth of more than 6,000 units were sold by UAE-based Azizi Developments in 2022. The company is currently preparing to hand over 11,000 apartments across 45 projects in Dubai later this year.
The first, second, and third stages of Riviera, Park Avenue I, II, and III in MBR City, and Berton in Al Furjan are among the projects that fall under this category.
According to the developer, by 2022, Azizi would have completed more than 152 stories across 3.51 million sq ft of built-up area, using 28.4 million manhours of labor and more than 167,000 cu m of concrete.
In addition to the 634-unit condominium Creek Views I in Dubai Healthcare City, Azizi finished the first seven towers of Riviera, its French Mediterranean-inspired waterfront lifestyle complex in MBR City, during the year.
As Riviera quickly sold out, Azizi announced the opening of Park Avenue III in MBR City, Rêve, its fourth and most opulent phase of Riviera, and Beach Oasis, two residential commercial buildings with a combined 712 units tucked around a swimming pool that resembles a beach, the company said.
A significant accomplishment for the group in 2022, according to the Dubai developer, was the purchase of a highly sought-after plot of land on Sheikh Zayed Road, where the second-tallest tower in the UAE will shortly be built.
In addition, Azizi has a contract with Dubai South under which it will buy a prominent 15 million square foot plot with 24 million square feet of GFA. Azizi will be the master developer for this plot and has plans to build an entire city on it, complete with villas, townhouses, residences, and other important amenities.
On the year’s accomplishments, CEO Farhad Azizi said: “With our record-breaking sales and construction speed, this year has been an exciting one for us at Azizi. As a catalyst to the UAE’s real estate landscape, vision, and growth, we will continue to add value, developing distinctive homes that set the standards in contemporary building design and quality, and that grant investor and end-users unparalleled, enriched lifestyles.”
“2023 looks very promising with nearly 100% of phases 1 and 2 of our megaproject Riviera already being sold out, and the other two phases making rapid progress, as well as several other projects being due for completion in the coming months,” observed Azizi.
“We value the support of our stakeholders and thank them for their contributions in turning our projects from conceptualization into reality,” he added.