The projects will be located in various areas in Dubai, which are currently in the land acquisition, permit application and design stages.
CEO Farhad Azizi said the 2017 project plan is in line with the overall group strategy to invest in "solid markets which have proven depth and stability".
“The rapid development of local infrastructure shows the full commitment of the Dubai government in its delivery of announced plans.
“The government systems are in place to encourage development from a micro perspective. When evaluated at the macro level, we are finding that currencies are in our favour; in addition, the new government changes in the US and Europe are directing investments towards this region. This launch not only reflects our success but showcases Dubai’s booming real estate market,” he added.
The new announcement adds to the company’s portfolio, which includes 20 UAE-based projects valued at around $1.99 billion.
Azizi Developments currently has 15 projects in Al Furjan, two in the Palm and the first in Dubai Healthcare City. The company’s flagship project is Azizi Mina Hotel Apartments.
Valued at $204.4 million, the 178-unit project is situated in a prime location on the ‘crescent’ part of the Palm Jumeirah.
Source: Business News