Developer also provides update on first two phases on Meydan One-based development
Azizi Developments, a privately owned real estate developer operating in the UAE, has announced that construction on phases 3 and 4 of its $3.26 billion canal development, Azizi Riviera, located in Meydan One, will begin construction in February 2018.
The project will consist of 69 mid-rise residential buildings comprising of studio, one-, two- and three-bedroom apartments, along with a large-scale integrated retail district and two hotels. Construction of phases 1 and 2 began in July 2017, and is on track for completion in early 2019, the developer said.
In a statement, it added that the plan is to work around the clock so as to complete phases three and four by the third quarter of 2019. Once completed, all four phases will contain a total of 16,000 apartments.
“The project’s accelerating progress represents the vision of the company to transform the cityscape of Dubai through rapid development,” said Mirwais Azizi, chairman of Azizi Group.
“By introducing the long-awaited Azizi Riviera into the market, we aim to continue to enhance the community lifestyle offering of Dubai through our own style of combining mixed-use assets like residential, hotels, F&B (food and beverages) and other retail developments,” he added.
The Azizi Riviera will be modelled on the French Riviera’s waterfront lifestyle, while also including several contemporary features and a ‘premium community lifestyle’.
The project’s location will also several outdoor recreation facilities and ease of access to Dubai’s business hubs and attractions, such as Meydan One Mall and the Meydan Racecourse.
Two major features of the new development will be a street museum and a mega-integrated retail district, which will consist of high-street brands and a variety of restaurants and entertainment options. The overall development will also offer access to paved walkways, water transport, yachting facilities and a marina.