Azizi to launch 50 new projects in 2017by Jumana Abdel-Razzaq on Dec 20, 2016
Azizi Developments announced the launch of 50 new developments in 2017, comprising residential, commercial and retail space.
The 2017 project plan is in line with the property developer’s overall group strategy to invest in solid markets which have proven depth and stability.
Farhad Azizi, CEO of Azizi Developments, said: “The rapid development of local infrastructure shows the full commitment of the Dubai government in its delivery of announced plans.
“The government systems are in place to encourage development from a micro perspective. When evaluated at the macro level, we are finding that currencies are in our favour; in addition, the new government changes in the United States and Europe are directing investments towards this region.”
The company’s confidence in the market derives from evaluations of deficits, trade balances and other consumer indicators.
The 50 new projects to be developed in various areas in Dubai are currently in the land acquisition, permit application and design stages.
Azizi currently has 20 different UAE-based projects valued at $1.9bn (AED7.3bn), with 15 projects in Al Furjan, two in the Palm and the first in Dubai Healthcare City.
“This launch not only reflects our success but showcases Dubai’s booming real estate market,” added Farhad.
- Hyundai Elevator wins Saudi medical complex deal
- KONE wins order for Bahrain International Airport
- DM allocates $1.9bn for service projects this year
- UAE: Imdaad earns $136m in revenue for 2016
- Shangri-La Dubai completes $19m Phase 1 renovation
- Saudi Aramco awards McDermott an EPCI contract
- Projects worth $65m approved in Abu Dhabi
- UAE's largest desalination plant is 53% complete
- Dubai: Union Properties to build racing theme park
- Azizi to launch 50 new projects in 2017