Azizi Investments to Assist Buyers Affected By Global Economic Crisis |
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Dubai - Azizi InvestmentsAzizi Investments
announced that it anticipates to help any buyers - whether investors or end users, who were adversely affected by the current global economic climate.
Merwiss Azizi, Founder and Chairman of Azizi InvestmentsAzizi Investments, also stated that although Dubai and Dubai developers were being impacted by the current global economic downturn, he believed its strong fundamentals meant that it would suffer less, and for a shorter time, than any other market.
The developer said Azizi InvestmentsAzizi Investments, is also committed to delivery of all current and planned projects, according to a Press release.
"We are still very keen to implement our plans for growth, but this will now happen at a slower pace. We will focus on delivering our existing projects," said Azizi.
He advised that the initial ambitious plans for growth in 2009 may be adjusted considering the current worldwide markets, and that it would adopt a 'wait and see' approach before launching any new projects.
Although sales had fallen in the last quarter, the company stressed that demand for property in Dubai still outstrips supply.
As people continue to flock to Dubai - drawn by employment opportunities and the tax-free environment. With the cancellation of some projects by smaller developers, this supply shortage will become even greater within a relatively short timeframe.
The developer also praised the efforts of the UAE Government and its master developers in helping to minimise negative market impacts.
© Khaleej Times 2008
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