UAE's Azizi hands over two Dubai projects worth $125m

Developer announces completion of more than 540 apartments in Al Furjan
UAE's Azizi hands over two Dubai projects worth $125m
Farhad Azizi, CEO of Azizi Developments.
By Staff writer
Mon 11 Dec 2017 02:12 PM

UAE-based Azizi Developments announced on Monday the completion and handover of two premium serviced apartment projects in Al Furjan – Candace Acacia Serviced Residences by Azizi, and Candace Aster Serviced Residences by Azizi valued at AED460 million ($125.2 million).

Candace Acacia is valued at AED240 million and spans a construction area of 335,246 square feet and includes 316 units of studio and one-bedroom apartments.

Candace Aster is valued at AED220 million with a construction area of 259,757 square feet and includes 227 units of studio and one-bedroom apartments.

Al Furjan is one of Dubai’s fastest growing residential neighbourhoods. The new metro line named Route 2020 will serve seven additional stations and will connect Al Furjan to Dubai Investment Park, Discovery Gardens, Jumeirah Golf Estates and will eventually service the Al Maktoum International Airport.

Farhad Azizi, CEO of Azizi Developments, said: “Candace Acacia and Candace Aster were conceptualised to meet the growing demand for premium living spaces in Al Furjan. Serviced apartments are an important category for Azizi Developments and one that we will aggressively tap into in the coming years in emerging residential neighbourhoods in Dubai.

“In this regard, we have seen that Al Furjan is emerging as a premier residential real estate destination in Dubai, offering a comfortable community lifestyle to residents.”

Azizi Developments said that in the last three years it has delivered over 800 units across eight projects in Al Furjan, and is expected to complete a further nine projects in the area before 2020.

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Last Updated: Mon 11 Dec 2017 01:17 PM GST

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