Azizi unveils $204m hotel apartments on the Palm
Due to be completed in 2018, Azizi Mina will be handed over well in advance of Expo 2020
UAE-based developer Azizi Developments launched 178-unit Azizi Mina Hotel Apartments, located on The Palm Jumeirah.
With a total value of $204m (AED750m), when complete, the G+9 fully furnished upscale hotel apartment will offer 120 one-bedroom and 58 two-bedroom units, as well as four luxury penthouses.
Set on a plot area of 11,240 sqm, Azizi Mina overlooks the Arabian Gulf and offers year-round access to some of the most iconic Dubai landmarks and tourist destinations.
Farhad Azizi, CEO of Azizi Developments, said: “The Azizi Mina Hotel Apartments has become Azizi Developments’ flagship project in the Dubai market and will be one of the largest properties and most distinctive to be situated on The Palm Jumeirah. This takes the value of our current portfolio in the Emirate to $1.9bn (AED7.3bn) for a total of 20 projects already under construction.
“Clearly, this level of investment demonstrates our commitment to the Dubai property market and our belief in the vision of HH Sheikh Mohammed bin Rashid Al Maktoum, Vice President of the UAE and Ruler of Dubai to transform Dubai into one of the leading cities in the world.”
He added: “While we have several interests and projects in many countries around the world, Dubai is a favourite with Azizi Developments, due to its location, great infrastructure, business-friendly rules and regulations, easy access to support from investors and a clear legal framework relating to the real estate market.”
Due to be completed in 2018, Azizi Mina will be handed over well in advance of Expo 2020.
With the location easily accessible to the Al Furjan (Expo) area on the mainland, Azizi Mina is an attractive investment proposition with immediate returns on investment.
In addition to the location and overall quality of the development, the services and amenities Azizi Mina offers include central air conditioning, fully fitted kitchens with appliances, fitted wardrobes, en-suite tiled bathrooms and guest toilets, double-glazed windows for greater insulation, balconies, and high-speed internet access.