Saudi Arabians buy one-fourth of Azizi Developments' projects
Dubai developer says Saudi Arabian investors most interested in $3.2bn Azizi Riviera; Indians, Pakistanis also among top spenders
Dubai-based private real estate developer Azizi Developments revealed that Saudi Arabians accounted for 25% of its project investments, growing by 8% over corresponding figures, with Indians and Pakistanis respectively accounting for 10% and 4% of the share.
More than 52% of the investment in Azizi Developments’ projects comes from Emirati buyers, with investors also coming from the GCC region, Europe, and China.
In a statement, Azizi Developments said that Saudi investors have invested the most in its $3.2bn (AED12bn) Azizi Riviera megaproject in Dubai’s Meydan One, located within Mohammed Bin Rashid City.
The developer’s Mina home project, a 178-unit development located in the east crescent of Palm Jumeriah, has been the second most popular development among Saudi investors, followed by Azizi Developments' towers in Al Furjan.
Commenting on the buyer trends, chief executive officer of Azizi Developments, Farhad Azizi, said: “While Dubai continuously cements its international standing as one of the world’s most popular real estate investment destinations, we are seeing a particular surge in demand from Saudi Arabia property intenders.
“With their investor savviness, the trust and faith they place in us speaks volumes about the quality of our work and our constant pursuit of customer-centricity, which we will continue to uphold.”