Defying the overall sluggish sentiment of the global real estate market due to coronavirus-induced challenges, Azizi Developments, a leading private developer in the UAE, has announced record sales for the last month of 2020. While many global industry players struggled during these testing times, 2020 proved to be a year of achievements and milestones for Azizi Developments, with December being one of the most successful months in terms of both construction and sales, paving the way for a promising 2021.
Azizi Developments recorded noteworthy sales across a number of projects in December 2020, including Riviera, Al Furjan, Mina on Palm Jumierah, and Creek Views I and II in Dubai Healthcare City. In the last month of 2020, the developer’s sales increased by over 60% compared to November. December sales made up over 22.5% of the total sales in 2020, with Riviera’s share being at almost 70%, Al Furjan contributing approximately 20% per cent, Mina on Palm Jumeirah over 5%, and Creek Views I and II in Dubai Healthcare City adding another 5%.
In November, Dubai Land Department recorded 3,927 property sales transactions worth AED 7.65 billion. This was 15.6 per cent more than October in terms of volume and almost 10 per cent more in terms of value. 38.2 per cent of these transactions were from the off-plan market, while 61.8 percent of these transactions were in the secondary market. The Dubai real estate market performance is now back to a pre-COVID sales-transaction levels, primarily attributed to the proactive measures taken and protocols set by Dubai’s government.
Commenting on the upbeat market sentiment, Mr Nima Khojasteh, Executive Director - Sales and Marketing at Azizi Developments, said: “We’re seeing a V-shaped recovery - when we look at the numbers, from the lowest we’ve had in May - 1,452 transactions, the market is experiencing a recovery by more than 270%. We at Azizi are delighted to be contributing to this by delivering and selling increasing volumes of world-class properties to local and international investors alike.”
He added: “We’re committed to the successful completion of our projects and our extensive portfolio of modern luxury developments across the emirate’s most sought-after residential destinations, as well as to our transparent, construction-driven and customer-centric approach, which has made us a trusted developer of choice.”
“All of our developments represent direct responses to carefully researched, contemporary market trends and needs. This growth percentage is a testament to the importance that we assign to our customers’ best interests,” he continued.
Riviera was the most well-received among Azizi’s projects in December. It is strategically located near the upcoming Meydan One Mall and the Meydan Racecourse — home of the Dubai World Cup — as well as Dubai’s major business, leisure and retail hubs. Designed to introduce the French-Mediterranean lifestyle to Dubai, which is not merely about architectural art but also about a certain ‘joie de vivre’ — a celebration of life and exultation of spirit — Riviera represents a new landmark that will add differentiated value to the real estate landscape.
Overlooking Dubai Healthcare City, Creek Views, another popular project of Azizi Developments, boasts stunning panoramic views of the iconic Dubai Creek and the picturesque Downtown Dubai skyline. Situated on Al Khail Road, seven minutes away Dubai International Airport, eight minutes from Dubai Mall, and nine minutes from Business Bay and DIFC, the development has all major business, leisure and retail hubs in its vicinity.
Positioned as the epicentre of the future, merging views of both old and new Dubai, Creek Views represents the city’s remarkable transition from a traditional, iconic past to a contemporary, reinvented future. Built to offer modern luxury at its finest, Creek Views will feature an all-inclusive health club, comprising a swimming pool, a fully equipped gym, a sauna, a steam room, as well as a serene outdoor yoga space.
© Press Release 2021
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