UAE-based Azizi Developments has started construction of its AED25 billion ($6.8 billion) Azizi Victoria mega project in the Mohammed Bin Rashid Al Maktoum City – District Seven in Dubai.
Spread over a construction area of 33 million square feet, Azizi Victoria comprises 105 mid and high-rise residential buildings of 30,000 units of studio, one-, two-, three- and four-bedroom apartments, a retail district and two hotels.
The buildings will be mixed-use constructions of housing apartments, retail establishments, restaurants and hotels, the developer said in a statement.
It added that the development will also include educational institutions, high-street retail establishments, hospitality, and outdoor recreation spaces. Construction of the project is expected to be completed in four phases with phase 1 scheduled for May 2019 and phase 2 in July 2019.
The project is twice the size of the Azizi Riviera canal-development in Meydan One.
Saeed Humaid Al Tayer, chairman and CEO of Meydan Group, said: “The success of Azizi Riviera has reinforced the need for urban community living spaces in Dubai. The Azizi Victoria is the latest offering resulting from the strategic partnership of Meydan Group and Azizi Developments to cater to this demand. We are confident of a positive response to Azizi Victoria, reflecting the strength and dynamism of the Dubai property market”.
Mirwais Azizi, chairman of Azizi Developments, added: “Azizi Victoria is our newest offering to those who wish to invest in a unique lifestyle equipped with state-of-the-art community facilities. Situated in the heart of Dubai, Azizi Victoria will further our vision of creating urban living spaces which will revolutionise the meaning of community living in Dubai.”
The latest 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.For all the latest business news from the UAE and Gulf countries, follow us on Twitter and Linkedin, like us on Facebook and subscribe to our YouTube page, which is updated daily.
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