Developer offers 8% net rental guaranteed return for 3 years for Azizi Riviera at Cityscape

Azizi Riviera Phase II to add more than 4,000 units to the market by 2018

Developer delivering steady supply ahead of Expo 2020

Dubai, UAE: Azizi Developments, a fast growing real estate developer operating in the UAE for over a decade, has announced that it will reveal Phase II of its AED12billion waterfront project - Azizi Riviera - at Cityscape this year, along with an attractive offer of eight per cent net rental guaranteed return for buyers for three years.

Following the tremendous success of the launch of the first phase of the waterfront project earlier this year, the developer decided to launch sales of the second phase valued at AED3billion. Phase II comprises 17 buildings with more than 4,000 units sprawled across Meydan One, one of Dubai’s most prestigious and strategically located neighbourhoods.

Inspired by the French Riviera, the project collectively is made up of 69 mid-rise residential buildings of 13,000 units of studio, one-bedroom and two-bedroom apartments, a mega integrated retail district and a four and a five-star hotel.

Farhad Azizi, CEO of Azizi Developments, said: “We are delighted to reveal Phase II of Azizi Riviera at one of the most prominent real estate exhibitions in the region and showcase our growing portfolio of properties to investors and buyers. We are seeing a growing demand for upscale residential real estate in prime locations across the city, and Azizi Developments is committed to meeting this demand by delivering world class unique community lifestyle projects with flexible payment plans for direct buyers and investors.”

In addition to Azizi Riviera, Azizi Developments will also be showcasing a number of its other projects at Cityscape 2017, including Farhad Azizi Residences in Dubai Healthcare City, Azizi Mina serviced apartments on the Palm Jumeirah and residential developments at Al Furjan. The total value of all projects that will be showcased at Cityscape 2017 amounts to approximately AED20billion.

Azizi Developments is known for creating iconic urban communities and as a result, the company has witnessed sharp growth in sales in neighbourhoods like Al Furjan in the last three years, where it has delivered over 500 units.

The developer had also completed a luxury residential property on The Palm Jumeirah - Azizi Royal Bay - this year, with 90 stylishly designed sea-facing  apartments including 58 one-bedroom, 30 two-bedroom and two 3-bedroom penthouses.

Azizi added: “Expo 2020 is encouraging developers to establish unique community projects in emerging locations across the city and we are excited at the opportunity to expand our portfolio in new and emerging locations in Dubai. We are expecting a robust response across our portfolio of properties, especially focused on the most talked about waterfront development, Azizi Riviera, driven by Dubai’s investor-friendly environment and improved regulatory landscape.”

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About Azizi Developments

Azizi Developments is the real estate investment arm of Azizi Group. Established in 2007, the company’s diverse experience in the property market has led the value of its current portfolio in the emirate to AED18billion and more than 100 projects at various stages of development.

In 2016, Azizi Developments was awarded ‘Developer of the Year’ and has been instrumental in developing some of the finest properties in The Palm Jumeirah, Meydan, Dubai Healthcare City, Al Furjan, Studio City, Sports City and Jebel Ali.

For further information about Azizi Riviera, please contact:
Ahmad Ibrahim - Head of Marketing and Communication
Marketing and Communication Department, Azizi Developments
Tel: +971 50 228 1043
Email: ahmad.ibrahim@azizidevelopments.com

Mara Carpencu/Siddhi Sainani
BPG Cohn & Wolfe
Tel: +971 4 506 5563 / +971 4 506 5582
Email: Mara@bpgcohnwolfe.com / Siddhi@bpgcohnwolfe.com

© Press Release 2017