On Thursday, Azizi Developments revealed plans to invest Dh20 billion in a mixed-use Dubai project that will include opulent villas, homes, as well as commercial and recreational space.
The project, which is situated in Dubai South, will have a two-kilometer air-conditioned promenade that will be the first of its type and draw 100,000 tourists from outside the neighborhood every day.
The glass-covered, pedestrian-friendly boulevard will have a variety of amenities, including shops, office space, restaurants serving a wide range of cuisines, movie theatres, nightclubs, play areas for children, and plenty of underground parking.
Azizi will take on the role of master developer and be responsible for creating all of the development’s infrastructure, including the buildings, roads, and other structures.
For the masterplan consultation of its recently acquired, highly desired 15 million square foot plot of land with 24 million square feet of GFA, it has inked a contract with KEO International Consultants.
The signing event was attended by Mr. Gregory Karpinski, chief operating officer of KEO International, and Mr. Mirwais Azizi, founder, and chairman of Azizi Developments.
Along with other top authorities, Sameer Daoud, managing director of Infrastructure for KEO International Consultants, and Farhad Azizi, CEO of Azizi Developments, attended the event.
“We now embark on this new, exciting master development journey, which is an integral part of the next era of our growth trajectory and that of Dubai, with the renowned KEO consultants by our side,” Mirwais Azizi said.
According to Sameer Daoud, this significant milestone opens the door for additional new opportunities and a fruitful partnership between KEO and Azizi.
“We are very excited to partner with the leading private developer in the market, Azizi Developments, and are confident that together, we will make a real difference in our value proposition and support the market needs with high-quality projects,” he said.
To read our blog on “In Dubai, the first physical NFT shop has opened,” click here.
