Real Estate

Azizi Developments, one of the leading private developers in the UAE, is developing Riviera in the most famous residential location of Dubai Mohammed Bin Rashid City. Property Monitor displays that in 2019, MBR City has experienced the highest sales volume of residential flats in Dubai, with 3,361 units sold, surpassing all other primary areas and making it the most sought-after residential location in the city.

Property Monitor also unveiled other noteworthy data, such as MBR Citys high volume of move-in and low volume of move-out requests, with a staggering 1,392 having moved in to the highly strategic, central area. This can be attributed to its direct connectivity to primary retail, business and entertainment hubs of the city, as well as its excellent infrastructure.

Property Monitor also highlights that MBR City ranked 4th in the sales price category for apartments, right after City Walk, Cultural Village Apartments and Downtown Burj Khalifa. The high residential prices in MBR City are a testament to its popularity, with demand and provide driving prices up. Azizi Developments world-class units in Riviera start at AED 528,000.

Moreover, Property Monitor shows that MBR City was ranked among the top 10 prime places in terms of rental yields, granting property owners who make investments in the area strong returns.

Elias Sami, Director of Marketing & Communications at Azizi Developments, said: These findings echo our vision of developing projects in the most up-and-coming, strategic places of this marvellous emirate, as well as our alignment with current market needs. With its remarkable connectivity and accessibility to all that matters, excellent designs, community framework, and a broad array of amenities, Riviera is sure to surpass investor expectations. Following its success, we are looking to boost further projects in MBR City, with many in planning. Being a data-driven organisation, we are very well aware of MBR Citys potential, and look forward to finishing our sizable, French Mediterranean-inspired community a landmark destination that will shape the area and propel it into a new paradigm of residential distinction.

Riviera is a stylish waterfront-lifestyle destination positioned in the heart of MBR City, which upon completion is planned to incorporate 71 mid-rise constructions with over 16,000 residences that are comfortably placed in the midst of all the business and leisure hubs of the city. Designed to introduce the French-Mediterranean lifestyle to Dubai, merging a certain 'joie de vivre' a celebration of life, an exultation of spirit - with architectural art, Riviera is set apart as a unique residential landmark. The homes offer astonishing views of the citys skyline and make sure generous space, spread throughout three districts: An extensive retail boulevard, a canal walk with artisan eateries and boutiques, and Les Jardins a lush-green social space. Phase one of Riviera is now 55% complete and 95% sold out.

The first phase of Riviera consists of 3,589 residences throughout 18 towers, consisting of 2,461 studios, 935 one-bedroom, 111 two-bedroom, and 82 three-bedroom units, most of which are projected to be carried out in 2020. Phase 1 has a total built-up area of 375,541 sqm and a total gross floor area of 180,854 sqm.

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