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Azizi Developments, the UAE-based private developer, has announced that work on its 284-unit residential project, Farishta, located within community in Dubai, has been completed.
In a statement, the developer said that Farishta comprises of a mix of 137 studios, 124 one- and 15 two-bedroom apartments, along with eight penthouses. It added that the project will be handed over shortly.
“Today we deliver our 14th project completion in Al Furjan, one of the most sought-after, growth-inclined and highly strategic locations in the emirate,” said Mirwais Azizi, founder and chairman of Azizi Developments.
Farishta is a residential community that reflects highest global construction standards. The development is located in one of the high-growth corridors of new Dubai with direct access to the main Dubai roads and metro line. It also features easy connectivity to the Dubai Expo 2020 site, Ibn Battuta Mall, , and among many other of the city’s attractions.
The developer also emphasized that Farishta’s prime location makes it one of the highly demanded and most wanted communities in Dubai. At the backdrop of the anticipated 25 million plus guest to Dubai Expo, who, undoubtedly, will push ahead the Dubai real estate market growth in 2020, such projects, as that of Azizi in Al Furjan, will be guaranteed the full needed demand, developer expects.
“With rental yields being on the rise in Al Furjan, we are delighted to have successfully delivered thousands of homes to local and international investors and end-users representing over 100 nationalities,” remarked Azizi.
“With many more completions and handovers scheduled to happen this year and beyond, Azizi looks forward to a very bright future,” said its top official.
Besides Farishta, Azizi has a couple more analogue projects in Al Furjan and other Dubai areas in the pipeline. Recently, the developer has signed a US$13.6 million worth construction contract for the construction of a new residential complex in the Al Furjan. It has all the same positives as Farishta has.
Azizi Developments is obviously not concerned about the oversupply at the Dubai's real estate market. This year the developer set himself the ambitious task of completing the construction of in 10 buildings in some of his key projects in the emirate. Projects scheduled for completion in 2020 include the mentioned Farishta, and also Shaista, Star and Plaza projects in Dubai's Al Furjan community.
Also, most recently, the developer presented a stylish new Miraj residential project in the Dubai Studio City, specially designed to the needs of the younger generation, as said in its announcement.
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