Phases 1 and 2 of Azizi Developments’ residential project in Meydan One, Azizi Riviera, will be completed in Q1 2019.
UAE-based property developer, Azizi Developments, said 85% of the foundations at Azizi Riviera, valued at $3.2bn (AED12bn), had been completed, and base-works had started for the project.
Azizi Riviera includes 69 mid-rise buildings comprising 16,000 units of studio, one-, and two-bedroom apartments, and and a four- and a five-star hotel.
Commenting on the project's development, Mirwais Azizi, chairman of Azizi Group, said: “We are pleased to announce that the basement works for one of our most ambitious projects are underway, and the first two phases of the development will soon be above ground level.
"The project is developing rapidly, as we had planned, and we are aiming to deliver Azizi Riviera ahead of schedule.”
He said that the “game-changing” waterfront Azizi Riviera project would “set new standards for community living” in Dubai.
“We have had a tremendous response from off-plan buyers who are all eager to gain possession of their new dream homes, and we want to ensure we are able to hand over all units at the earliest,” he added.
The architect behind Azizi Riviera is said to have based the design of the development complex loosely on the French Riviera.
Azizi Riviera will feature an integrated retail distraction comprising high street shops, leisure, entertainment, and dining options. It will also have a space for yachts to dock and water transport facilitates.
The development will be located on the banks of the Dubai Canal. It is the first in a series of projects Azizi hopes to build in the Meydan One development, following a strategic partnership it struck with Meydan Group in 2017.