Real Estate

Azizi Developments, a prominent private developer in the UAE, is gearing up with a sustained commitment towards the completion of its ongoing projects, with 46 projects scheduled to be completed in 2021. Moreover, the developer may launch another 40+ new buildings worth around AED 7bn, mostly in its existing communities, and will introduce further ways of reaching international investors with a focus on tapping into markets such Saudi Arabia, China, Nigeria and Israel.

Despite the pandemic-induced challenges that the real estate industry faced, Azizi Developments celebrated a high-performance 2020 by casting over 300 stories, pouring over 239,000 cubic metres of concrete, constructing over 3.68 million square feet of built-up area, and recording more than 17.6 million work hours, emphasizing its construction-driven and customer centric way of operating. The developer now plans to deliver on its assurances by handing over homes to more than 10,000 families in 2021.

CEO of Azizi Developments, Mr Farhad Azizi, said: This year threw at the world a challenge that we have yet to overcome. Nevertheless, we count our blessings with the closing of 2020. For the UAE, as well as for us at Azizi, this has been a year of accomplishments and milestones, proving our resilience during the most challenging of times. Our construction was mostly unaffected by the pandemic as we continued catalysing the development of this marvellous emirate. We have handed over nearly 3,000 units this year alone residences that will define the lifestyles of thousands of happy families. It gives me enormous pleasure to say that as we enter 2021, we will continue to strive for the very best; our spirits remain high and our desires clear as ever.

With the UAE real estate sector embarking on a path of growth, with the economy and businesses worldwide beginning to witness a significant resurgence, we expect an even stronger uptick in demand and sales that will become apparent as early as Q1 of 2021; this is when we believe pre-pandemic levels will be reached and then exceeded. The current global situation allowed the UAE to show its true merits it grants the leadership and the countrys businesses and people the opportunity to demonstrate how safe, proactive, forward-looking and innovative this international hub is. Farhad Azizi added

In the build-up to Expo 2020, Azizi Developments 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.

Azizi Developments has seen speedy growth over the years and stays focused on generating substantial revenue and on increasing top and bottom lines from approximately 100 current, ongoing projects, around 75% of which are already sold, due to swift construction and delivery, entailing growth and profitability, even during times of low sales.

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