Azizi targets delivery of pre-sold inventory by 2023
UAE-based Azizi Developments said it will focus on delivering its pre-sold inventory across 54 ongoing projects from 2020 to 2023, and will leverage its extensive existing land bank to deliver sustainable growth for years to come.
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UAE-based Azizi Developments said it will focus on delivering its pre-sold inventory across 54 ongoing projects from 2020 to 2023, and will leverage its extensive existing land bank to deliver sustainable growth for years to come.
The announcement came as the company announced its 2020 handovers, office launches abroad, expansions, diversifications and more in line with the UAE’s Year of Preparation for the next 50 years of growth and development.
Azizi said it is starting the new year with a continued, customer-centric commitment to its ongoing projects; potential diversification and global expansions; and a host of new products and marketing activities to attract a plethora of nationalities that show increasing demand, in line with Expo 2020.
Farhad Azizi, CEO of Azizi Developments, said: “With 2019 having come to a close, we look back with great pride at all that we have accomplished. It was a year full of accelerated construction and delivery – a year that was marked with countless success stories, from completions and launches to the many new solutions that we’ve introduced to the real estate sector.”
“We’ve succeeded in restructuring the firm into the stable, reliable and transparent partner that our stakeholders need and deserve, operating much more efficiently than ever before.
“We have embarked on a ground-breaking pursuit of becoming the most investor- and customer-centric developer in the UAE and beyond, having taken concrete steps to further enhance our quality, and are now very well positioned to lead Dubai’s real estate market into a new paradigm of excellence. As we begin our journey into the new year and decade, with many more handovers, exciting solutions and new opportunities to come, and with Expo 2020 set to bring a substantial volume of Foreign Direct Investment into the UAE, we look forward to a very bright and promising future,” he added.
Projects that will be handed over in 2020 include Samia, Farishta, Shaista, Star, and Plaza in Al Furjan – an up-and-coming strategic location with outstanding connectivity to the entirety of the emirate, Mina on the east crescent of the iconic Palm Jumeirah, Aura – the developer’s freehold residential building in Downtown Jebel Ali, and the first phase of Riviera, its 71-building French Mediterranean-inspired master-planned community project in Mohammed bin Rashid City.
In addition to its ongoing projects, Azizi also has 100+ projects in planning, worth several billion dollars. Of these, 48 require less than 30% of its accessible land bank, and are set for handover over the course of the next five years.
Azizi is currently looking into opening offices in Saudi Arabia, Nigeria, and London, and developing in other emirates, neighbouring high-growth markets, and more mature markets overseas, demonstrating that a UAE-based real estate firm can develop world-class projects across the globe.
Moreover, the firm will build on its recently launched fly-in programme, through which it is inviting the world to Dubai, offering customised five-star travel packages that comprise flights, all-inclusive hotel stays, and transportation across the emirate. Azizi aims to showcase its properties across the city's prime locations, as well as Dubai's many marvels, to foreign investors.
The developer also plans to diversify by expanding vertically into hospitality, leasing, facility management and brokerage services. With its current portfolio, land banks and strategic partnerships, Azizi is well-positioned to enter these markets. Some of the master plans around the lands that Azizi owns allow the developer to also look at retail, commercial and hospitality facilities. Azizi is now assessing other kinds of properties and locations for this purpose, to diversify by leveraging its capacity.
To play its part in the preparations and onset of Expo 2020, Azizi is developing a large concentration of projects with direct metro and highway access to the site, which will continue to be a vibrant hub of culture and leisure even after the event.
Moreover, it will further build on its short-term home rental concept through which it manages and services its’ customers’ owned apartments for them, and may convert some of its properties into hotel units, to cater to the surge in tourism. Azizi is also sponsoring the Solar Decathlon Middle East, a competition hosted in the Mohammed bin Rashid Al Maktoum Solar Park in alignment with – and for the entire duration of – Expo 2020, through its sponsorship of Team Tawazun. – TradeArabia News Service
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