The 12 Billion Dirhams Waterfront Project in Dubai

Azizi Developments has broken ground on its Dh12 billion (SR12.2 billion) Azizi Riviera, a waterfront project situated within Dubai’s Meydan One mega-development.

The Mediterranean-style project will have 69 mid-rise residential buildings, a retail district and two hotels, with the first two phases expected to be completed in December 2018. The first phase will comprise 2,273 units in eight mid-rise residential buildings plus an integrated retail district. Phase two meanwhile will have 2,162 units housed in 17 buildings.

Azizi Riviera is the first in a series of projects that Azizi is planning to develop at the Meydan One mega-development following a partnership with Meydan Group announced earlier this year.

Meydan One is a 3.75-square kilometer community that will have the Meydan One mall as its centerpiece, and will contain about 620 shops, including a pair of department stores and a 131,150-square foot hypermarket. “We are pleased that the site preparation for this dazzling community has kicked off. With this iconic new neighborhood development, we are once again demonstrating our capability to develop unique projects that will surprise the world and contribute to this great city’s evolution,” Farhad Azizi, chief executive of Azizi Developments, said in a statement. The developer acquired 186 plots at Meydan One between February and April this year, which it subsequently integrated into 76 plots, for its plans to build a low or mid-rise apartment tower on each. The units will mainly be studio, one, two and three-bedroom apartments, ranging in price from Dh500,000 to Dh2 million.