Dubai real estate developer Azizi Developments is set to build a massive mixed-use project in Dubai South with a multibillion-dollar investment.
The company announced on Tuesday that it has signed a deal with Dubai South to purchase a huge piece of land with a total area of 15 million square feet, or approximately 140 hectares.
The “several-dozen-billion-dirham” master development is expected to have 24 million square feet of gross floor area (GFA).
It will feature townhouses, villas, apartments and several types of “hospitality projects”, the developer said. Amenities will include a swimmable crystal lagoon, water features, parks, cycling and jogging tracks and green spaces, among others. Planning and design for the project “are already in advanced stages”.
“As part of the agreement, Azizi Developments will be the master developer, in charge of constructing the development’s buildings, its roads and infrastructure,” the statement said.
The developer signed the deal for the Dubai South land on Monday, November 21. The land is part of Dubai South’s Golf District, alongside Emirates Road (E611).
“We are excited to embark on this new master development journey, the next era of our growth trajectory and that of Dubai,” said Mirwais Azizi, Founder and Chairman of Azizi Developments.
“This sizable land represents an exceptional opportunity to contribute to the satiation of the exponentially increasing demand for world-class properties in the UAE.”
(Reporting by Cleofe Maceda; editing by Seban Scaria)