Azizi Developments, a leading private developer in the UAE, has sold 95 per cent of its residences in Phase One of Riviera, its flagship residential destination in Dubai, thus recording sales of over Dh2.14 billion ($582 million).

Phase One of Riviera comprises 3,589 residences in 18 towers consisting of 2,461 studios, 935 one-, 111 two- and 82 three-bedroom units, projected to be completed in 2020, said the statement from Azizi.

Riviera, a stylish waterfront-lifestyle destination located in the heart of Mohammed bin Rashid City, will upon its completion comprise 71 mid-rise buildings with over 16,000 residences that are conveniently located in the midst of all the business and leisure hubs of the city.

Designed to introduce the French-Mediterranean lifestyle to Dubai, which is not merely about architectural art, but also about a certain 'joie de vivre' — a celebration of life, an exultation of spirit, Riviera represents a new landmark.

The homes offer spectacular views of the city’s skyline and ensure 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, said the Emirati developer.

Phase One has a total built-up area of 375,541 sq m and a total gross floor area of 180,854 sq m, it added.

CEO Farhad Azizi 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.”

Azizi has achieved a similar investor response in Al Furjan, another exceptionally designed, up-and-coming residential destination with superb connectivity. Of its 22 projects in Al Furjan, 12 have sold out, with the rest selling out swiftly, he added.-TradeArabia News Service