Azizi Developments eyes Dubai real estate’s India connection

Dubai / Emirates Business

Following the announcement of its strategic partnership with Dubai Land Department (DLD) earlier this year, Azizi Developments – the fast-growing real estate developer operating in the UAE – is participating in the Dubai Property Show in Mumbai, India from November 3-5.
Azizi Developments and DLD are working together jointly in a series of road shows to promote Dubai as an ideal city to live, work, visit and invest in.
On the inaugural day of the event, Farhad Azizi, CEO of Azizi Developments, was awarded Ambitious Developer of the Year at the Real Estate Tycoon Awards ceremony hosted at the Taj Mahal Hotel in Mumbai.
Sultan Butti bin Mejren, Director General of DLD, commented: “We are happy to showcase a diverse range of real estate options to the Indian market, which has demonstrated a keen interest in property in Dubai over the years. Developers like Azizi Developments are helping buyers and investors in India to realise their dreams of owning property in Dubai by offering a range of projects across some of the best locations in the Emirate. We look forward to more opportunities to link overseas buyers who are looking to earn value on their property investments with Dubai developers who wish to expand their customer bases.”
As part of the agreement between Azizi Developments and DLD, the developer is actively promoting Dubai’s real estate market among investors through property roadshows in India, China, and Pakistan.
Farhad Azizi said: “I am deeply honoured to be recognised as the Ambitious Developer of the Year at the Real Estate Tycoon Awards from DLD. We have been given tremendous opportunities in the Emirate and our projects are a testament to our commitment towards realising His Highness Sheikh Mohammed bin Rashid Al Maktoum’s vision for this city. There is a wealth of opportunities opening up in Dubai in the run up to Expo 2020 and we are proud to be associated with DLD to showcase this to the world and position the city as a top global destination for real
estate investment.”
With trade figures between India and the UAE standing at around $60 billion, India is a particularly important market for Dubai and Azizi Developments. According to DLD figures, total real estate investments in 2016 touched AED91 billion, with investments by Indians accounting for AED12 billion of this amount. Indians also represented the highest number of foreign buyers in the UAE.
Fourteen percent of Azizi Developments’ properties are bought by Indian buyers and investors. The developer also opened its first office in India this year in Chennai, the capital city of the southern state of Tamil Nadu, to commence international sales of its AED12 billion Azizi Riviera project in Meydan One.
“Interest from buyers and investors from a discerning market like India reiterates the faith in Dubai’s real estate market, which is governed by transparent laws and regulations, and characterised by resilience. We deeply value our customers in India and look forward to offering them attractive options for a second home,” Azizi added.
This show comes two months after Cityscape Global 2017 in Dubai, where Azizi Developments witnessed its most successful edition to date, recording sales of AED1.3 billion over the three-day event.