UAE-based Azizi Developments today (January 18) unveiled plans to build the second tallest tower - Burj Azizi - in Dubai on a prime plot of land on Sheikh Zayed Road at an investment of $1.5 billion.

Scheduled to be completed within 4 years, the skyscraper will feature a vertical mall, luxury residences and opulent penthouses in addition to a 7-star hotel, said the developer in a statement.

The tower will also be home to one-of-its-kind observation deck as well as numerous high-end F&B options, among other unique and exciting features and amenities, it stated.

On the milestone announcement, Founder and Chairman Mirwais Azizi said: "Today is a special day as the group finally breaks ground on one of my dream projects in Dubai. While the formal ceremony will be held later, I am delighted to be marking this occasion with our own team at Azizi - a team that will be building this iconic tower."

The date of the official ground-breaking ceremony will be announced later, he added.

In another development, Azizi has extended its partnership with Toshiba Elevator, the Japanese manufacturer of the world’s fastest elevator, that will see the company supply, design and install passenger and service elevators for its premium projects - Azizi Central, Azizi Grand, Azizi Vista and Beach Oasis projects.

Built for young, in-vogue adults and families alike, Vista, the epitome of a modern luxury low-rise residential building, is nestled in one of Dubai’s most dynamic and youthful areas, adjacent to Sports City and Motor City, said Azizi.

"Just a short drive from the Expo site, and with it being situated on Hessa Street and near Sheikh Mohammed Bin Zayed Road, Dubai Studio City is a strategic location with excellent accessibility. Residents will benefit from a wide range of nearby amenities, including schools and colleges, medical facilities, sports and leisure attractions, and much more," he added.

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