UAE-based Azizi Developments on Tuesday announced a plan to launch a new AED25 billion ($6.8 billion) mega community project in the heart of Dubai.
The new project, whose name is yet to be announced, will have a distinctly British feel, with themes and elements influenced by contemporary British culture and way of living, Azizi said in a statement.
It added that the development will comprise residential, commercial and retail space, with 105 mid-rise and high-rise residential buildings boasting 30,000 apartments.
Mirwais Azizi, Azizi Group chairman, said: “The new project announcement comes as part of Azizi Developments’ commitment toward developing a city which has given us many opportunities, including secure investments and business environment, as well as excellent standard of living and education, and a world-class healthcare system.”
The new Azizi project will be located in central Dubai with a construction area of 33 million square feet – twice the size of Azizi Riviera in Meydan One and will include education facilities, retail outlets, hospitality, a shopping area and outdoor recreation spaces.
Construction of the project is scheduled to begin in November and be completed before Expo 2020.
“The rules and regulations in Dubai have provided an ideal environment for business growth, establishing the city as a preferred destination for trade and property investments,” Azizi added.
The announcement comes on the back of the developer’s success at this year’s Cityscape Global and the sellout of Azizi Riviera phase one and two canal-facing projects in Meydan One.
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