Dubai: Azizi Developments has completed its most visible plot buy of recent times, acquiring land next to the coveted Dubai World Trade Centre Metro Station 2. As to what Azizi plans to build there has not been revealed.
The developer is working on the design of what will be a ‘large iconic development’, which will comprise residential, hospitality and retail spaces. “We will develop a building that will be unlike anything we – or anyone else for that matter – have ever built before, not only in the UAE, but beyond,” said Mirwais Azizi, Founder and Chairman of Azizi Developments.
Plans for the land, which is situated in a prime location, adjacent to the World Trade Centre Metro Station 2, have not yet been made public. The plot was sold by Meydan City Corporation. According to Issam Galadari, CEO of Meydan City Corporation, “Azizi Developments have expertise in creating not only buildings but significant landmarks, incorporating designs which reflect the culture and spirit of the UAE.”
Intent on delivery
Ahead of the COVID outbreak, Azizi had spoken about building twin-towers on Shaikh Zayed Road. But then came the property market demand dip, talk about over-supply and those plans went into cold storage.
The deal with Meydan City Corp. represents the biggest new investment Azizi has made in the recent past. Until now, it had focussed on completing existing phases at its Riviera community in MBR City, and recently, added a 24-building cluster there. Projects were also completed at the Palm and Dubai Healthcare City.
Hyper-focus on SZR
The latest plot buy thus represents quite a break from the recent past for Azizi. But the attraction of a high-rise in and around SZR endures, with Damac launching glitzy back-to-back projects at Safa. The Canal-side too have multiple ongoing projects, much of which in the luxury category.
For Azizi, “This plot is located on Sheikh Zayed Road, the most important and iconic road in the UAE, named after the late Sheikh Zayed bin Sultan Al Nahyan. It fills us with immense pride to be developing a truly one-of-a-kind project on the road that carries his name and is a representation of his countless achievements.”
This project will be our legacy. It will be among the most prominent buildings in the entire world. We will share more information on this soon-to-be, revolutionary landmark in due course