Azizi Developments, a leading private real estate developer in the UAE, has announced that construction of phases Three and Four of its Dh12-billion ($3.26 billion) canal development, Azizi Riviera, located in Meydan One, is scheduled to begin later this month.

The project will boast 69 mid-rise residential buildings comprising studio, one-, two- and three-bedroom apartments, a mega integrated retail district and two hotels.

Azizi Developments said the construction of phases One and Two began in July last year and is on track for completion early next year.

The Emirati developer said the plan was to work round-the-clock on the third and fourth phases to complete the waterfront community within the third quarter of 2019. Once completed, all the four phases will comprise a total of 16,000 apartments.

Mirwais Azizi, the chairman of Azizi Group, said: "The project's accelerating progress represents the vision of the company to transform the cityscape of Dubai through rapid development."

"By introducing the long-awaited Azizi Riviera into the market, we aim to continue to enhance the community lifestyle offering of Dubai through our own style of combining mixed-use assets like residential, hotels, F&B (food and beverages) and other retail developments," he stated.

Azizi pointed out that its strategic partnership with Meydan and expansion in the master development reflects the group's commitment to continue to raise the global profile of the Dubai real estate market.

"The line-up of new projects we will launch and deliver to Dubai real estate market this year makes 2018 the most exciting year for Azizi Developments to date," he added.

Inspired by the French Riviera waterfront lifestyle, the Azizi Riviera will contain contemporary features and a premium community lifestyle.

The prime location also offers outdoor recreation and proximity to the business hub of Dubai including other leading attractions like the Meydan One Mall and the Meydan Racecourse, home of the Dubai World Cup - the world’s richest horse race.

The premier feature of the new development is a street museum and a mega-integrated retail district, which will consist of high-street brands as well as a variety of restaurants and entertainment options. The overall development will also offer access to paved walkways, water transport, yachting facilities and a marina.-TradeArabia News Service