Leading private developer in the UAE Azizi Developments reported a 37% rise in sales in the second half of 2022, finishing the year with a total of over 6,000 units for Dh5.6 billion.
Azizi plans to finish around 11,000 units this year across 45 projects in Dubai, including the first, second, and third phases of Riviera, Park Avenue I, II, and III in MBR City, and Berton in Al Furjan.
After spending 28.4 million man-hours and more than 167,000 cubic meters of concrete, Azizi will construct more than 152 storeys covering 3.51 million square feet in 2022.
During the year, Azizi completed the first seven towers of Riviera, its waterfront lifestyle complex in MBR City with a French Mediterranean influence, in addition to the 634-unit condominium Creek Views I in Dubai Healthcare City. Azizi unveiled Park Avenue III in MBR City, Rêve, and Beach Oasis, two residential commercial buildings with a combined 712 units tucked around a swimming pool that resembles a beach, as the fourth and most opulent phase of Riviera immediately sold out.
Additionally, the developer who will soon construct the second-tallest tower in the United Arab Emirates has purchased the much desired Sheikh Zayed Road land tract from Azizi.
CEO of Azizi Developments Farhad Azizi stated: “2022 has been an exciting year for us with our record-breaking sales and building speed. We will continue to contribute value by creating distinctive residences that set the benchmarks for contemporary building design and quality and that give investors and end users unmatched, enriched lifestyles as we act as a catalyst for the UAE’s real estate environment, vision, and growth. With nearly 100% of Riviera’s phases 1 and 2 already sold out, the remaining two phases moving forward quickly, and a number of other projects scheduled to be finished soon, 2023 appears to be a very promising year.
