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Azizi on track to complete $212m Dubai project in Q4 2018

Azizi Developments' Mina project on Dubai’s the Palm Jumeirah is reportedly on track to meet its target completion date

Farhad Azizi, chief executive officer of Azizi Developments.
Farhad Azizi, chief executive officer of Azizi Developments.

Azizi Developments has announced that its Mina project on Dubai’s the Palm Jumeirah is on track to meet its target completion date.

The UAE-based property developer revealed in a statement that the $212.4m (AED780m) project is expected to be ready for delivery in Q4 2018.

With a total area of 11,244m2, Mina by Azizi comprises 178 serviced apartments. These apartments are a mix of one-, two-, three-, and four-bedroom apartments, as well as penthouses.

Commenting on the UAE property market, Farhad Azizi, chief executive officer of Azizi Developments, said: “Investor confidence in the UAE is increasing and is reflected in the registration of 68 projects during the first half of 2017, valued at $5.7bn (AED21bn).

 

“Mina by Azizi was established to meet the growing demand for serviced residences specifically on Palm Jumeirah.”

In August, Azizi announced the handover of its $95.3m (AED350m) Royal Bay development, also on Palm Jumeirah.

The developer also has projects in Meydan One, Dubai Healthcare City, Studio City, Sports City, and Jebel Ali.

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Construction Week - Issue 753
Nov 09, 2019