The new urban waterfront community will be located on the banks of the Dubai Canal, and the AED 12 billion project will be led by both KCC engineering LTD and Actco General Construction. It will be situated in the prestigious Mohammed bin Rashid Al Maktoum City Medan One project, and 'Azizi Riviera' will consist of 69 mid-ride residential buildings of 13,000 units of one-bedroom, two-bedroom and studio apartments, as well as a retail district - and both a four or five star hotel.
The project has been described as 'ground breaking' and at the official ceremony which took place in the presence of Saeed Humaid Al Tayer, chairman and CEO of the Meydan Group, and Mirwais Azizi, chairman of Azizi Developments. Al Tayer said: "Meydan is committed to enabling Dubai become a world class city by developing integrated communities in strategic locations across the city."
"Our strategic partnership with Azizi aims to deliver high-end living spaces such as Azizi Riviera to meet existing market demands. The real estate market in the UAE and Dubai in particular is seeing increasing interest from international investors and we remain confident of the dynamism of the sector and its long term prospects."
Azizi added: "The start of the construction of the Azizi Riviera project is a landmark milestone for Azizi Developments, marking our foray into creating urban living spaces which will revolutionize the meaning of community living in Dubai."