UAE-based Azizi Developments has achieved a key milestone with the sale of 30 per cent of its recently released 700+ retail units spread across its premium Dubai developments including MBR City, Palm Jumeirah, Dubai Healthcare City, Al Furjan, Studio City, Sports City and Downtown Jebel Ali.
A leading private developer in the UAE, Azizi said it had noted a substantial uptick in its retail unit sales, especially those made to UAE residents.
Having noted a 60 per cent surge in retail sales enquiries in H1, the developer is now seeing this figure grow even further, with enquiries having been up over 40 per cent in July compared to June.
UAE nationals represent its most substantial customer demographic, with 43 per cent of units having been sold to Emiratis followed by Saudi investors (13 per cent) and the rest among over 17 other nationalities, including investors carrying passports from the United Kingdom, Germany, France, Sweden, Belgium, Canada, and Nigeria, stated the developer.
Azizi’s remarkable international sales figures come in light of the developer having invested heavily in catering to foreign investors, such as by launching its virtual property tours, video calling consultations, foreign sales offices, road shows and other efforts, it added.
Nima Khojasteh, Executive Director (Sales and Marketing) said: "Our sales enquiries are not only growing in number, but also in quality – our conversion rate is up 25 per cent from last year’s. This comes as no surprise to us – we have embedded these retail units in some of the best, most growth-inclined residential communities in Dubai, and are developing them to be perfectly suited for food and beverage, convenience and health and beauty businesses, which are the most in-demand brick & mortar spaces.”
“Both our residents, as well as businesses, benefit from having a strong retail presence within our communities – those residing within them benefit from convenience and effortless access to lifestyle-enhancing leisure options, and commercial entities have a bustling environment with substantial footfall to conduct their business in,” he added.
Azizi’s retail units are embedded into its master-planned communities and residential towers, adding leisure, shopping and eatery amenities and creating a bustling social space with a strong potential for business profitability.
The developer has taken several steps to ensure the appeal to - and success of – businesses that will occupy the space, such as through the provision of ample parking space, outstanding visibility due to large roads, wide walkways and substantial traffic, and exceptional connectivity to Dubai’s largest highways.
Retail units on Azizi Riviera’s 1.6-km integrated boulevard and 2.6-km canal walk are considered to be an exceptionally smart investment with the community being home to over 16,000 families, and it being forecasted to welcome a sizable volume of visitors as a landmark and cultural hotspot.-TradeArabia News Service