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Wed 28 Aug 2019 02:41 PM

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More Saudis investing in Dubai real estate, says developer Azizi

Azizi Developments has recorded an 8% increase in sales to investors from Saudi Arabia this year compared to 2018

More Saudis investing in Dubai real estate, says developer Azizi
Riviera, Azizi Developments’ flagship master-planned waterfront community in Meydan One, has received the strongest response from Saudi investors to date.

UAE-based Azizi Developments has recorded an 8 percent increase in sales to investors from Saudi Arabia this year compared to 2018.

The developer said that while UAE nationals still make up the largest customer demographic with 52 percent, Saudi nationals now constitute 25 percent, followed by India with 10 percent, and Pakistan with 4 percent.

The rest comprises investors from the GCC region, Europe, and China, the company said in a statement.

Farhad Azizi, CEO of Azizi Developments, said: “While Dubai continuously cements its international standing as one of the world’s most popular real estate investment destinations, we are seeing a particular surge in demand from Saudi property intenders.

"With their investor savviness, the trust and faith they place in us speaks volumes about the quality of our work and our constant pursuit of customer-centricity, which we will continue to uphold.”

He added that the Riviera, Azizi Developments’ flagship master-planned waterfront community in Meydan One, has received the strongest response from Saudi investors to date.

The 71-building project, located in Mohammed bin Rashid City and in proximity to the new Meydan One Mall, includes a 2.6km canal walk, a 1.6km retail boulevard, and Les Jardins, a green social space spanning the entire length of the community.

The second most popular choice among Saudi investors is Mina, Azizi’s premium project on the East Crescent of Palm Jumeirah with private beach access, followed by Azizi Developments’ towers in Al Furjan.

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