Dubai: Azizi's $95.2m Royal Bay project 85% sold

Royal Bay Residence is a part Azizi’ $1.9bn current portfolio for thousands of apartment units in Nakheel’s Al Furjan and Palm Jumeirah districts in Dubai

Farhad Azizi, CEO of Azizi Developments.
Farhad Azizi, CEO of Azizi Developments.

Dubai-based developer Azizi Developments announced that 85% of its $95.2m (AED350m) Royal Bay Residence project in Palm Jumeirah has been sold.

The project is scheduled to be completed by second quarter of 2017.

Farhad Azizi, CEO of Azizi Developments, said: “Dubai is one of the fastest growing cities in the world and continues to boom as a prime real estate hub. With great interest from expatriates in the emirate’s ever-expanding developments, we felt a need to present potential homeowners with something unique.

"Not only does Royal Bay Residence provide high-end contemporary interiors and views along the crescent edge of the Palm Jumeirah, it also offers buyers and investors an appealing 80:20 payment scheme, which allows buyers to only pay 80% upon handover and grants a return on investment of up to 10%.”

Royal Bay Residence is a part Azizi Developments’ $1.9bn (AED7.3bn) current portfolio for thousands of apartment units in Nakheel’s Al Furjan and Palm Jumeirah districts in Dubai.

A 90-unit fully serviced, luxurious residential apartment building, Royal Bay is one of the few developments on the Palm Jumeirah crescent to offer a choice of 58 one-bedroom and 30 two-bedroom options, as well as two penthouses.

It also provides direct beach access, swimming pools, jacuzzi, a gymnasium, recreational options, and landscaped gardens.

The units have been sold with superior finishing, product and location all credited with the strong demand for this property.

The eight-floor building has been designed with 450 placement allowing the living rooms, kitchen, and bedrooms of each residence, sea views.

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