Dubai's Azizi buys more land in Dubai - launches Dh75b 'fashion-focused Milan'

Dubai: Azizi Developments has launched a Dh75 billion residential development in Dubai within the area used to be known as ‘City of Arabia’ and near Sheikh Mohammed Bin Zayed Road.

The new project – ‘Azizi Milan’ – sees the Dubai developer stick to naming its community-style projects after cities in Europe, with ‘Azizi Venice’ being the earlier one.

A clear standout of the latest project is Azizi’s move to buy a sizable chunk of land in Dubai.

According to Mirwais Azizi, Chairman of Azizi, "As the (original) Milan, this new development will become the fashion hub of the Middle East and Asia, where all the brand names and fashion leaders will be present and become an incubator for emerging fashion and local design talent to grow.

 “We are developing the masterplan entirely - it will be a place to meet friends, shop and live...”

Major draw for Dubai’s new communities

Locations off Mohammed Bin Zayed Road are the new go-to places for community-themed projects in Dubai. Aldar, the Abu Dhabi master-developer, recently launched a community, Athlon, near Global Village.

As the city expands, it has organically created the need for new residential options. And property investors are ready to follow where new openings are happening.

“We are launching Azizi Milan as a response to the strong, growth-inclined demand for well-thought-through communities in Dubai,” said the Chairman.  

“Azizi Milan will eventually cater for a population of 140,000 spread over 80,000 apartments and across 40 million square feet of GFA. This includes at least 500 hotel keys and 2.5 million square feet of retail.”

Sales of homes at Azizi Milan starts April 24.

The project is ‘one with prices that make homes more attainable than those in our ultra-luxury projects, such as Burj Azizi on Sheikh Zayed Road and our Monaco Mansions in Venice,” said Azizi.

“Azizi Milan caters to a much wider demographic - we anticipate a strong investor response beginning the day of its sales launch.”

Revised masterplan will add a mall

Many portions of the old masterplan will be 'revisited and redesigned'.

Azizi Milan will also have a mall and retail districts, as well as office spaces and schools. And a lot of green areas too.

Existing City of Arabia properties

Over the years, a resident base has grown within City of Arabia.

“The existing communities will remain separate in facility and property management,” said Mirwais Azizi.

“We will merely build next to and around them, effectively enhancing the community as a whole for the benefit of all stakeholders.

We will however be responsible for the infrastructure and developing the road network within the masterplan.”