Azizi Investments to Assist Buyers Affected By Global Economic Crisis |
|
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
Comment on this article 
Loading ...-
Zawya encourages you to add a comment to this discussion. You agree that when you add content to this discussion your comments will not:
1.1 Contain any material which is libelous or defamatory of any person, is obscene, offensive, hateful or inflammatory or causes damage to the reputation of any person or organisation.
1.2 Promote sexually explicit material, violence, discrimination based on race, sex, religion, nationality, disability, sexual orientation or age or any illegal activity.
1.3 Be made in breach of any legal duty owed to a third party, such as a contractual duty or a duty of confidence.
1.4 Be threatening, abuse or invade another's privacy, or cause annoyance, inconvenience or needless anxiety.
1.5 Be used to impersonate any person, to misrepresent your identity or affiliation with any person, or be likely to deceive any person.
1.6 Give the impression that they represent Zawya.
1.7 Advocate, promote or assist any unlawful act such as (by way of example only) copyright infringement or computer misuse. - The content posted on www.zawya.com is created by members of the public. The views expressed are theirs and unless specifically stated are not those of Zawya. Zawya reserves the right to review all comments prior to posting and edit or delete any contribution, but Zawya is not responsible for and can not be held liable for any content posted by members of the public on www.zawya.com.
- Zawya is not responsible for the availability or content of any third party sites that are accessible through www.zawya.com. Any links to third party websites from www.zawya.com do not amount to any endorsement of that site by Zawya and any use of that site by you is at your own risk.
- By submitting your comment, you hereby give Zawya the right, but not the obligation, to post, air, edit, exhibit, telecast, webcast, re-use, publish, reproduce, use, license, print, distribute or otherwise use your comments worldwide, in perpetuity.
Stories
Companies
| Company Name | Country | Industry |
| Consolidated Contractors Company | Overseas | Construction and Design |
| Saudi Binladin Group | Saudi Arabia | Construction and Design |
| Emirates Aluminium Company | UAE | Metal Production |
| Abu Dhabi Investment Council | UAE | Investment Firms and Funds |
| Emirates Telecommunications Corporation | UAE | Telecommunications Services |
| Al Azizia Panda United Company | Saudi Arabia | General Retailers |
| Barwa Real Estate Company | Qatar | Landlords and Developers |
| Nissan Motor Egypt | Egypt | Transportation Products |
| Ras Girtas Power Company | Qatar | Electric Utilities |
| Saudi Electricity Company | Saudi Arabia | Electric Utilities |
Projects
| Project Name | Country | Sector |
| Ras Girtas Power Company - Ras Girtas IWPP | Qatar | Power and Water |
| IGD - Gasco - Habshan 5 Gas Processing Plant | UAE | Oil and Gas |
| SATORP - Jubail Refinery and Petrochemical Complex | Saudi Arabia | Oil and Gas |
| Emirates Aluminium (EMAL) - Smelter Complex | UAE | Industry |
| Takreer - Ruwais Refinery Expansion | UAE | Oil and Gas |
| Qatar Foundation - Sidra Medical and Research Center | Qatar | Real Estate |
| Aramco/Dow Chemical - Ras Tanura Integrated Refinery and Petrochemicals Complex | Saudi Arabia | Oil and Gas |
| Abu Dhabi Ports Company - Khalifa Port and Industrial Zone (KPIZ) | UAE | Infrastructure |
| SATORP- Jubail Refinery and Petrochemical Complex - Conversion Unit and Sulphur Package (Part 2) | Saudi Arabia | Oil and Gas |
| Dubai RTA - Dubai Metro - Purple Line | UAE | Infrastructure |