Azizi Developments has awarded two contracts worth a combined $408m (AED1.5bn) for the construction of Phase 1 of Azizi Victoria to Green Modelling Contracting and Modern Civil International Contracting Company.
The two contractors have been appointed to build 32 buildings and 4,000 units in total, according to a company statement.
Green Modelling Contracting will construct 16 buildings while Modern Civil International Contracting Company will build the remainder.
Construction works will commence immediately and is due to be completed in the third quarter of 2019.
Mirwais Azizi, chairman of Azizi Group said: “Azizi Developments has developed a strong reputation in the market for its ability to develop multiple mega-projects and deliver them ahead of schedule.
“Our goal for 2018 is to continue at the same rapid pace of development and ensure that we meet the growing demand for premier residential real estate in Dubai.
“The real estate sector in the emirate remains vibrant, driven by strong demand in certain key locations and we remain committed to delivering adequate supply to meet the aspirations of residents.”
Spread over a construction area of three million square metres, Azizi Victoria in Mohammed Bin Rashid Al Maktoum City – District 7 comprises 105 mid- and high-rise residential buildings of 30,000 units of studio, one-, two-, three- and four-bedroom apartments, a retail district, and two hotels.
The project is twice the size of the Azizi Riviera canal-development in Meydan One, drawing design inspiration from contemporary British culture.