UAE's Majed Hilal wins $156m Azizi Riviera contract
Azizi Riviera is the flagship residential development for Azizi Developments
Emirati firm Majed Hilal Contracting will build 11 mid-rise apartment blocks for Azizi Development's flagship project, Azizi Riviera.
The Dubai-based contractor has been awarded a $155.7m (AED572m) contract to build 11 waterside buildings for Phase 4 of Azizi Riviera, a $3.2bn (AED12bn), 16,000-unit community among the developer's most ambitious residential projects to date.
Phase 4 will have 4,753 units. Customers can choose from 3,141 studios, 1,261 one-bedroom, 267 two-bedroom, and 84 three-bedroom apartments.
Majed Hilal Contracting will be responsible for developing more than half of the units in the final phase of the Meydan One-located project.
Evershine Contracting was awarded a $152m (AED559m) contract earlier this year to build 10 mid-rise towers as part of Phase 4 of the Azizi Development project.
The luxury waterfront development aims to bring the style and culture of the French Riviera to Dubai, with 69 residential buildings many of which are adjacent to a canal.
Chairman of the eponymous developer, Mirwais Azizi, said construction on the flagship project was "progressing quickly" as the business looks to create more off-plan real estate in the emirate.
"We recognise a growing interest in Dubai’s real estate market – and particularly in buying off-plan – and aim to match that with our hallmarks of timely delivery, superior quality, and value for money,” he said.
A contract award for Phase 4 of the project came less than 30 days after Azizi Development issued a construction update on Phases 1, 2, and 3 of the project.
Land excavation work for Phase 3 is moving forwards as planned, but physical building work is yet to begin.
For Phases 1 and 2, 26 buildings have basement works underway and raft works have been started at nine other apartment blocks.
Handover for Phases 1 and 2 is set for Q1 2019, Providing there are no delays, the remaining two phases are expected to be delivered later in the same year.