UAE’s Azizi Developments has sold 95% of its residences in the first phase of Riviera, recording sales of over AED 2.14 bn, Invest-Gate reports.
Projected to be completed in 2020, Riviera’s phase I comprises 3,589 residences in 18 towers, divided into 2,461 studios, 935 one-, 111 two- and 82 three-bedroom units, according to a press release on January 26.
The flagship residential destination has a total built-up area of 375,541 square meters and a total gross floor area of 180,854 square meters. In addition, it ensures generous space, “spread across three districts: An extensive retail boulevard, a canal walk with artisan eateries and boutiques, and Les Jardins — a lush-green social space,” the company added.
Riviera, upon its completion, will comprise 71 mid-rise buildings with over 16,000 residences, which are conveniently located in the heart of all the business and leisure hubs of Dubai.
Commenting on the news, Farhad Azizi, CEO of Azizi Developments, said, “The phenomenal investor response to Riviera for its central and strategic location, remarkable array of amenities, and convenient payment plans underlines its standing as one of the most sought-after residential destinations in the city. We have achieved significant milestones in the development of this project and are well on track for completion.”
In October, the real estate developer awarded a construction tender of eight residential buildings in its mixed-use project in Dubai’s Mohammed Bin Rashid (MBR) City, dubbed “Azizi Victoria,” to India’s contractor Prestige Constructions.