Azizi Developments Records 78 Percent Completion of the Much-Awaited Farishta Azizi in Al Furjan

Press release

Published November 25th, 2018 - 10:42 GMT

Azizi Developments has achieved an impressive 78% completion in the construction of Farishta Azizi.

Azizi Developments, one of the leading private developers in the UAE, has achieved an impressive 78% completion in the construction of Farishta Azizi, one of the most awaited residential project that is part of the impressive lineup of Azizi Developments 18 projects in Al Furjan.

Construction progress is steady with electro-mechanical work inside the apartments in the final stages and rapidly moving towards completion while the façade and external painting jobs are nearly being wrapped up. Azizi Developments has approached the government authorities for final connections and inspections of the residential property.

Located centrally in the upcoming community development of Al Furjan, Farishta Azizi is in close proximity to the Ibn Battuta Mall, Discovery Gardens and leads up to the Expo 2020 Dubai site assuring strong return on investment and rental yields. According to reports, rental yields on premium apartments in the location could even double from the current average of about 5 per cent in the city, driven by the ‘Expo effect.’ With stable demand set to continue, it is projected that Al Furjan will be among the Top 10 destinations for rental yields, with an average of 8 to 9 percent.

Farhad Azizi, CEO of Azizi Developments, said: “We are committed to delivering our projects while upholding the highest standards of build quality. Azizi Developments has always underlined a construction focus approach and successfully handed over more than 1,800 residences in Al Furjan, which is a prime location in Dubai with excellent connectivity and assures a strong return on investment and rental yield for our customers.”

The AED255 million Farishta Azizi comprises of 284 residential apartments including 137 studios, 124 one-bedroom homes, and 23 two-bedroom homes in addition to a retail space of 7,200 sq. ft. The premium residences have contemporary design and display elegant interiors.

Al Furjan’s strategic location between Sheikh Zayed Road and Sheikh Mohammed bin Zayed Road makes it a highly connected community, offering residents easy access to all the business and leisure attractions in the city. Adding to the convenience of the residents is the new metro line ‘Route 2020’, currently under construction for Expo 2020 Dubai that enjoys close proximity to most of Azizi Developments 18 projects across Al Furjan.

A wide range of retail, leisure and lifestyle attractions are available within the Al Furjan Pavilion and Al Furjan West Pavilion in addition to landscaped gardens that add to the serene surroundings of Al Furjan.

Background Information

Azizi Developments

Although the foundation stones of the present-day Azizi Group were laid in 1989, it was in 2007 when the towering presence of Azizi Developments first began to take shape. Mirwais Azizi was driven to design homes and communities inspired by modern urban living. But at the heart, it was about giving back to a city that had offered him and his family a place of peace and security. He set a vision for the future without losing sight of the past, ensuring he stays within client budgets, but goes beyond the norm to create the best possible living experience for people. Today, Azizi Developments reflects the aspirations of a wide spectrum of lifestyle seekers. This means a permanent dedication to understanding and meeting clients' aspirations, developing distinctive homes that set the standard in contemporary building design and offering an unparalleled level of customer service. It's about unlocking a new lifestyle for the curious and ambitious, setting the ideal platform to live, work and play – and building communities that bring people closer.