Azizi Developments, a leading private developer in the UAE, has noted a substantial surge in demand for its retail units across projects in the fourth quarter of 2020, despite the pandemic-induced challenges that the real estate industry has witnessed. 

 

The total units sold now stand at 315 with Riviera, the French Mediterranean lifestyle project located in the very centre of Dubai, registering the highest sales of over 200 retail units across its Phase One and Phase Two. 

 

In Al Furjan, 36 retail units were sold, with the rest of the sales being spread across Avenue – Azizi’s newly launched MBR City development, Creek Views and Aliyah – its contemporary projects in Dubai Healthcare City that represent the new benchmark for convenience, practicality and modernism, and Mina – it’s luxury project with private beach access on the Palm Jumeirah, stated the developer.

 

Nima Khojasteh, Executive Director (Sales and Marketing) said: "We are very pleased to see our retail unit sales grow so substantially, with over 45% - nearly half - of our 700 available retail units now having been sold. 2020 has been an unusual year for us all, and the challenges it has brought about have impacted most industries across the world, especially brick and mortar businesses."

 

"However, we are absolutely delighted to see that despite these challenges, the market sentiment is beginning to return to pre-pandemic levels, and that our projects, which evidently meet and surpass investor aspirations, remain among the top retail space choices in the UAE," he stated.

 

According to him, Azizi’s retail units are embedded into its master-planned communities and residential towers, adding leisure, shopping and eatery amenities and creating a bustling social space with a strong potential for business profitability. 

 

The developer has taken several steps to ensure the appeal to - and success of – businesses that will occupy the space, such as through the provision of ample parking space, outstanding visibility due to large roads, wide walkways and substantial traffic, and exceptional connectivity to Dubai’s largest highways, he added.-TradeArabia News Service