While everyone's attention is currently focused on Palm Jebel Ali and the sales of ultra-luxurious homes, Azizi, a prominent Dubai developer, is undeterred and is pushing ahead with the launch of its ambitious Dh30 billion mixed-use community project.
Named 'Azizi Venice,' this project aspires to become the most significant single developer launch in Dubai South. It will cover an extensive area of 15 million square feet and boast a remarkable built-up area spanning a whopping 24 million square feet. Staying true to its Venice-inspired theme, the project will feature an abundance of water features throughout.
Once fully developed, Azizi Venice will accommodate an impressive 30,000 homes and a population exceeding 70,000 residents. This project represents Azizi's most substantial venture in terms of both value and size to date.
Construction for this remarkable project has already commenced, and sales are scheduled to commence on October 3. According to Farhad Azizi, the CEO, the pricing for the initial release of homes will be determined in the next day or so.
Azizi further revealed exciting plans for the project, including an opera house, an air-conditioned boulevard serving as a year-round shopping destination, a water park, educational institutions, a hospital, and even some office spaces. This project aligns seamlessly with market demands, and buyers are willing to invest in such offerings.
Dubai South has gained increasing popularity recently as a preferred destination for budget-conscious buyers and tenants. Two-bedroom apartments are currently listed for Dh1.2 million, primarily comprising new or recently constructed units. The 145-square-kilometer master development also benefits from various amenities, notably the Al Maktoum International Airport and logistics and commercial hubs.
As for the completion of 'Venice,' Farhad aims to adhere to a tight construction schedule, with the first homes expected to be handed over well before 2027, if possible. This approach will allow Azizi to maintain better control over all construction aspects without the need for multiple phases, ensuring that the project progresses at an optimal pace.
Meeting the target of delivering the first units before 2027 would align perfectly with the peak demand for residential options in Dubai South.
With Dubai witnessing the development of the second Palm and now 'Venice,' the construction sector is set to thrive, despite the slight increase in construction costs since June. For 'Venice,' initial works are progressing smoothly, and Azizi intends to time project stages and launches in harmony with market cycles to ensure timely completion.
Azizi's 'Venice' project is set to make a significant impact on Dubai's real estate landscape, offering a unique and comprehensive living experience in Dubai South.