Azizi Developments, a leading private real estate developer in the UAE, said it was on track to complete the Mina by Azizi, its second project on the Palm Jumeirah - in the third quarter of 2018, ahead of scheduled delivery.

With its well-crafted design and prime waterfront location on the sands of the ‘crescent’ of the Palm Jumeirah, one of UAE’s most sought-after destinations, Mina by Azizi features panoramic views of the sea and provides private beach access to 178 fully-furnished serviced apartments and penthouses, said the developer in a statement.

The Dh780-million ($212 million) project will be the new lifestyle destination on the Palm covering a total area of 11,244 sq m which includes 120 one- and 54 two- and four three-bedroom apartments besides four penthouse residences.

In addition, it will include a total retail area spanning 1,532 sq m. The project’s presence in the heart of Dubai will provide lucrative returns for those looking for a luxurious lifestyle, it stated.

CEO Farhad Azizi said: "It’s very pleasing to announce the increased pace of progress of our second and most ambitious project on the Palm, Mina by Azizi. Constructing quality homes and delivering to our customers on time is at the core of Azizi Developments’ business."

"In the case of Mina by Azizi, we are aiming to deliver ahead of schedule, reinforcing our position as a leading private real estate developer in the UAE and sustaining the UAE’s position as a stable and high-yield real estate market," stated Azizi.

This project's completion will come almost a year to the date after its first luxury residential project on the Palm Jumeirah, the Dh350-million Royal Bay was delivered in August last year, which is also supplementing the growing demand for luxury serviced residences in Dubai, said the company in a statement.

These developments are in addition to its community lifestyle projects Azizi Riviera in Meydan One and Azizi Victoria in Mohammed bin Rashid Al Maktoum City – District 7, as well as other projects in Dubai Healthcare City, Al Furjan and Jebel Ali, it added.-TradeArabia News Service