Money & BusinessUAE

Dh30-Billion Real Estate Project Announced; To House 30,000 Residences and City’s Second Opera

Dubai-based property developer Azizi Developments on Wednesday launched a Dh30-billion mixed-use desert oasis community project. Azizi Venice in Dubai South will house 30,000 residential units.

The private developer announced that the Venice-inspired waterfront community will house 100 mid-rise apartment complexes and more than 400 luxury villas and mansions.

It will be set entirely within one of the world’s largest crystal-blue water lagoons.

Spread over a 15-million sqft plot of land, it will also feature a temperature-controlled pedestrian-friendly boulevard and Dubai’s second opera. The boulevard will be open-air in the winter and glass-covered in the summer to ensure a temperature-controlled space with year-round activity.

Underground parking spaces will be constructed to grant tens of thousands of daily visitors easy access to Azizi Boulevard and Azizi Opera.

Mirwais Azizi, founder and chairman of Azizi Developments, said the community will become a home for around 80,000 residents and a tourist attraction for around 30,000 visitors daily.

“I love Dubai and it is a great honour for us to contribute to the realisation of the vision of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai, to enrich the lives of the millions of people from around the world who are now calling Dubai their home,” he added.

Property developers in Dubai are aggressively launching projects to cash in on unprecedented demand from residents and foreign investors. On Wednesday, Nakheel Properties launched phase 2 of villas on Palm Jebel Ali and Emaar Properties rolled out Nima, The Valley. Recently, the Burj Khalifa developer also launched $20 billion The Oasis by Emaar. Moreover, private developers such as Danube Properties and Damac have also launched multiple residential projects this year to cash in on demand.

The Azizi Venice community will have multiple beaches, which surround all of its condominium buildings, villas, and mansions, as well as its extensive leisure, retail, and commercial space. The turquoise, desalinated, and filtered waters will be framed by beach-like shores, an 8 km-long cycling and jogging track, yoga and sports facilities, and a promenade with a variety of artisan eateries and boutiques.

It will also have two Azizi-owned and operated five-star hotels at the entrances of the community, as well as one boutique hotel located on an island in the middle of the lagoon.


Khaleej Times

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