Leading private developer in the UAE Azizi Developments ended 2022 with a total of over 6,000 units for Dh5.6 billion, recording a 37% increase in sales in the second half of 2022.
Across 45 projects in Dubai, including the first, second, and third phases of Riviera, Park Avenue I, II, and III in MBR City, and Berton in Al Furjan, Azizi intends to complete almost 11,000 apartments this year.
In 2022, Azizi will build more than 152 storeys over 3.51 million square feet after investing 28.4 million man-hours and more than 167,000 cubic meters 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 the fourth and most luxurious phase of Riviera quickly sold out, Azizi introduced Park Avenue III in MBR City, Rêve, and Beach Oasis, two residential commercial structures with a combined 712 units nestled around a swimming pool that look like a beach.
Additionally, Azizi has bought the highly sought-after Sheikh Zayed Road land parcel on which the developer will soon build the second-tallest tower in the United Arab Emirates. Additionally, Azizi has a contract with Dubai South under which it will purchase a prominent 15 million square foot plot of land with a GFA of 24 million square feet. Azizi will be the master developer for this project, and it has plans to launch an entire city with villas, townhouses, residences, and more.
Farhad Azizi, CEO of Azizi Developments, said: “With our record-breaking sales and construction speed, 2022 has been an exciting one for us. 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 investors and end-users unparalleled, enriched lifestyles. 2023 looks very promising with nearly 100 per cent 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. We value the support of our stakeholders and thank them for their contributions in turning our projects from conceptualisation into reality.”