UAE-based Azizi Developments has announced the purchase of six additional plots within Meydan, an integrated city and destination in Dubai for business, sports and lifestyle.
The additional plots will be added to the 180 Meydan plots acquired by Azizi Developments last month, which will lead to a city within the master development, the company said, without giving a value for the purchase.
The six additional plots will feature low-rise residential and retail projects near Meydan One Mall, it added.
Farhad Azizi, CEO of Azizi Developments, said: “The combination of Meydan’s strategic location and our comfort with the master developer has led Azizi Developments to expand our original investment.
"Our increased commitment to this development is a statement of its immense potential for growth and aligns with the company’s vision, transforming Meydan into a recreational, residential and hospitality destination.”
He added: “Last month, we acquired 180 plots from Meydan and the additional six plots in the same area, show our growing confidence in this city. A multitude of acquisitions across Dubai will be announced soon.”
Meydan was originally launched in August 2015 by Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai.
The development will also feature Dubai One Tower, which will be the world’s tallest residential tower at a height of 711 metres.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.
Subscribe to Arabian Business' newsletter to receive the latest breaking news and business stories in Dubai,the UAE and the GCC straight to your inbox.