Azizi records 81% sales across 54 ongoing projects in Q3'19

CEO Farhad Azizi says, developer aims to become the 'real estate developer of choice for the new generation'

Azizi Developments recorded 81% sales across 54 ongoing projects.
Supplied/ Azizi Developments
Azizi Developments recorded 81% sales across 54 ongoing projects.

Dubai-based private real estate developer Azizi Developments recorded an 81% sale of units across 54 of its ongoing projects, which account to 12,000 units, in the emirate as of Q3 2019.

In a statement, the developer that is developing the $3.2bn (AED12bn) Azizi Riviera in Mohammed bin Rashid City (MBR City) said that its projects including Aliyah in Dubai Healthcare City and Plaza in Al Furjan posted an average of nearly 90% sales before having completed.

Commenting on the sales, chief executive officer of Azizi Developments, Farhad Azizi, said: “All of our developments are tailored and direct responses to carefully researched, contemporary market trends and needs, as our remarkably high ratio of units sold prior to completion underlines.”

The CEO added that the company aims to become the “real estate developer of choice for the new generation”.

Azizi Developments said that the units were sold to customers of more than 100 different nationalities. The developer expects to deliver 54 ongoing projects between 2020 and 2023, whilst more than 100 projects — that are under planning stage — are anticipated to be delivered between 2023 and 2025.

In December 2019, the developer awarded a $13.6m (AED50m) contract to UAE-based Prestige Constructions for the construction of its 245-unit Berton in Al Furjan.

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