Work begins on $3.2bn Azizi Riviera project at Meydan One
Construction work has begun on Azizi Developments latest urban waterfront community, the $3.2bn (AED12bn) Azizi Riviera
Construction work has begun on Azizi Developments latest urban waterfront community in Dubai, the $3.2bn (AED12bn) Azizi Riviera.
Comprised of 69 residential buildings and two luxury hotels, the new development will be located on the banks of the Dubai Canal within Mohammed Bin Rashid Al Maktoum City Meydan One project.
The residential buildings will offer 13,000 units of one-bedroom, two-bedroom and studio apartments, and will feature a retail district and a four and five-star hotel.
The project is being developed by KCC Engineering and Construction Ltd. and Actco General Constructing Co LLC.
Saeed Humaid Al Tayer, chairman and CEO of the Meydan Group, said: As one of the most ambitious real estate projects in the UAE, our strategic partnership with Azizi aims to deliver high-end living spaces such as Azizi Riviera to meet existing market demands.
“The real estate market in the UAE and Dubai in particular is seeing growing interest from international investors and we remain confident of the dynamism of the sector and its long term prospects.”
Phases 1 and 2 of the French-inspired development are scheduled for a December 2018 completion.
The retail district will consist of high street bridge brands, leisure and entertainment options.
The overall development will also offer access to long paved pedestrian paths and water transport, yachting facilities and a proposed marina, among others.
Azizi Riviera represents the first in a series of urban neighborhood projects that Azizi Developments is planning to develop in the Meydan One mega-development, following the strategic partnership with Meydan Group announced earlier this year.