Azizi unveils massive development portfolio

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.