Business | Construction
Azizi unveils massive development portfolio
Azizi Investments, which was launched on Tuesday, announced a 15 million square feet property development portfolio, immediately establishing it as a serious player in the UAE, a statement said.
- Staff Report
- Published: 00:53 February 20, 2008
Dubai: Azizi Investments, which was launched on Tuesday, announced a 15 million square feet property development portfolio, immediately establishing it as a serious player in the UAE, a statement said.
The company confirmed that it had 'significant' interests at Nakheel's Al Furjan and Palm Jebel Ali developments, as well as at Emirates City.
It plans to include 12 plots at Nakheel's Al Furjan; the exclusive rights to develop the only five-star hotel at R Holdings' Dh15 billion ($4.1 billion) flagship project Emirates City in Ajman; and a selection of plots to be developed into luxurious properties on Crescent A of Palm Jebel Ali. Full details will be unveiled in due course.
Strategic plan
Azizi Investments also confirmed a three year strategic plan to dramatically increase its development portfolio to an estimated 165 million square feet by 2010.
The company's launch is supported by high profile brand awareness campaign of prime bill-board site and print advertising across the UAE.
Merwiss Azizi, founder and chairman of Azizi Investments, said: "While we remain vigilant to future investment opportunities, and can react quickly to these due to our independent financing, we are mindful that making the right choices are key to achieving long term sustainable growth. We are therefore delighted to have developed high quality and close relationships with the largest master developers as well as governments."
Founded in October 2007, by Merwiss Azizi, a leading businessman in his native Afghanistan, Azizi Investments has been able to secure development plots at some of Dubai's most innovative and exciting projects.
The company plans to offer a diverse portfolio of projects ranging from affordable developments - set out to cater for budget conscious investors of the region - to high-end developments that will be unrivalled in the luxury they will provide.
More from Construction
More from Business
Business Editor's choice
-
‘Wrong Way' Krugman
The source of our economic malfunction lies with government-mandated bank regulations
-
Greek exit could make Eurozone stronger
Departure will show limits of bailouts and allow remaining members to act much more like a unit
-
UAE upholds values of free trade
Recently released statistics confirm an established fact, namely that of the UAE embracing the free trade principle in general and imports in particular
