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Tue 7 Nov 2017 01:36 PM

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UAE's Azizi to launch $6.5bn Dubai mega project this month

Developer says it will hold ground-breaking ceremony in November for 30,000-apartment project

UAE's Azizi to launch $6.5bn Dubai mega project this month
Mirwais Azizi, Azizi Group chairman.

UAE-based Azizi Developments on Tuesday said it will launch its new mega community project in the heart of Dubai at a ground-breaking event later this month.

The developer said the project has a sales value of AED25 billion ($6.8 billion) and will "set a new standard of community living in Dubai".

The new project, whose name is yet to be announced, will have a distinctly British feel, and will comprise residential, commercial and retail space, with 105 mid-rise and high-rise residential buildings boasting 30,000 apartments.

No further details have been announced.

Mirwais Azizi, Azizi Group chairman, said: “Dubai remains a stable investment choice for foreign investors. The size and scale of our new project is a testament to this, and reiterates our alignment with Dubai’s Vision 2021 which aims to showcase Dubai as a land of opportunities.”

He added: “Azizi Developments is steadfast in its commitment to developing properties in Dubai and promoting it as one of the top-ranking cities in the world, surpassing the likes of Singapore, Hong Kong and New York.”

Earlier this year, Azizi launched the AED12 billion Azizi Riviera in Meydan One, and opened two new sales offices in Dubai.

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