Azizi Developments marks 82% sales in Dubai's Al Furjan community
Rental prices in Al Furjan have bucked the trend to increase by 1% in just a month, from December 2019 to January 2020
The developer has already completed 13 projects in the community. The most recent development Samia was inaugurated in January 2020.
In addition, Azizi aims to finalise four developments in the community, this year, as well as two projects to be completed in the coming years.
Among Azizi’s developments, 84% of the inventory of Samia is now sold out, with 92% of Plaza, 76% of Shaista, and 88% of Star marking complete sales as well. All of the Farishta inventory has been sold prior to its delivery, as of early December 2019.
These figures are in line with the latest Property Monitor data, which highlights an average residential sales price of AED891 per square foot for units within Al Furjan.
The sales price is higher than that of most major residential destinations in the emirate, including Jumeirah Golf Estates, Jumeirah Village Triangle, Jumeirah Lakes Towers, and Dubai South.
Meanwhile, the properties’ average residential rental price of AED60 per square foot attracts increased investors’ confidence as compared to major residential destinations in Dubai, Property Monitor data confirms.
Rental prices in the area have increased by nearly 1% in just a month, from December 2019 to January 2020.
Al Furjan has recorded some of the highest sales in January 2020 in the secondary market transfer category, Dubai Land Department figures suggest.
Commenting on Azizi’s sales in the Al Furjan community, director of marketing and communications at Azizi Developments, Elias Sami, said: “With rental yields in Al Furjan being on the rise, and the community rapidly evolving into the ideal residential destination of Dubai, well-suited for families and young professionals alike, we are proud to contribute to its development. The new Route 2020 metro line, direct highway access, and the wide array of leisure and retail options, are just some of the factors that elevate this remarkable, traction-gaining community.”