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Sat 18 Aug 2018 01:16 AM

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UAE's Azizi says flagship $3.3bn Dubai project now 20% complete

UAE-based Azizi Developments has announced construction update on its flagship waterfront community project in Meydan One, Azizi Riviera

UAE's Azizi says flagship $3.3bn Dubai project now 20% complete

UAE-based Azizi Developments has announced that construction on its flagship waterfront community project in Meydan One, Azizi Riviera, is now 20 percent complete.

Comprising of 16,000 units, ground floor works are completed across the mid-rise buildings that comprise of seven to ten floors at the AED12 billion ($3.3 billion) project.

With first floor construction ongoing, and second and third floors expected to commence construction in August, Azizi Riviera is progressing towards timely completion, the developer said in a statement.

Mirwais Azizi, chairman of Azizi Group, said: “Azizi Riviera continues to be one of the most unique waterfront residential developments in Dubai. It stands to offer residents and investors high ROI via an appreciation in property value in the buildup to Expo 2020 and beyond.”

Azizi Riviera, launched in July 2017, is the flagship community project of Azizi Developments. The architecture, while drawing inspiration from the French Riviera lifestyle, will also contain outdoor recreation and proximity to the business hub of Dubai and other leading attractions, including the future Meydan One Mall and the Meydan Racecourse, home of the Dubai World Cup.

Earlier this year, the developer said phases one and two of Azizi Riviera are set to complete in the first quarter of 2019, with phase three and four two quarters later.

A key feature of the Azizi Riviera development is a mega integrated retail district, which will consist of high-street bridge brands, leisure and entertainment options.

The development, on the banks of the Dubai Canal, will also offer access to long paved pedestrian paths and water transport, yachting facilities and a proposed marina, among other attractions.

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