Azizi awards $156m Dubai flagship project contracts
Azizi Developments, one of the leading private developers in the UAE, has awarded Dh572 million ($156 million) deal to Majed Hilal Contracting for the development of Phase 4 of Azizi Riviera, the group's flagship project in Meydan One.
It is the flagship project of Azizi Developments and the architecture, while drawing inspiration from the French Riviera lifestyle, will also contain versatile, contemporary elements.
As per the deal, Majed Hilal Contracting will be responsible for constructing 11 canal-side buildings that will make up over half of all developments in Phase 4 of Azizi Riviera.
Under this key phase, a total of 4,753 units consisting of 3,141 studios, 1,261 one-, 267 two-, and 84 three-bedroom apartments, will be built. The construction work is likely to begin by the month end.
A key feature of the Azizi Riviera development is a mega integrated retail district which will consist of high-street bridge brands, leisure and entertainment options, said the developer.
On the new contracts, Group Chairman Mirwais Azizi said: "As a construction-driven developer, we continue to progress quickly with Azizi Riviera, one of our most ambitious projects to date."
"We recognise a growing interest in Dubai’s real estate market – and particularly in buying off-plan – and aim to match that with our hallmarks of timely delivery, superior quality, and value for money," he added.
Azizi said the development, located on the banks of the Dubai Canal, will also offer access to long paved pedestrian paths and water transport, yachting facilities and a proposed marina, among other attractions.
Outdoor recreation and proximity to the business hub of Dubai and other leading attractions, including the Meydan One Mall and the Meydan Racecourse, home of the Dubai World Cup - the world’s richest horse day, further contribute to making Azizi Riviera a sound return on investment, it added.
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