Azizi awards $462.85m contracts for 35 buildings in Dubai
Azizi Developments, a leading UAE-based real estate developer, has awarded two construction contracts worth Dh1.7 billion ($462.85 million) to build 35 buildings in the Meydan One development.
The contract is for two out of four phases that will be constructed this year, the company said in a statement.
KCC Engineering Construction & Maintenance and Actco General Contracting Co were appointed to build the multi-phase project.
A signing ceremony was held at the Meydan headquarters last week. And was attended by Mirwais Azizi, chairman of Azizi Developments, and Saeed Humaid Matar Al Tayer, chairman of the board and CEO of Meydan City Corporation.
The developer announced the purchase of 186 plots within Meydan One development last February, which are now amalgamated into 76 buildings.
Al Tayer said: “Our ongoing collaboration with Azizi Developments continues to exceed expectations. Awarding contractors with proven track records like KCC and Actco means that this project is moving forward quickly while still maintaining the highest quality standards. This united effort to make Meydan the number one leisure destination is now showing results and bolstering its position in the region as an exciting location for residential developments and retail projects.”
Azizi, who signed the contracts, said: “Delivering a new community asset that will simultaneously attract people from all over the city and appeal to families is a challenge that we have risen to. We are pleased to appoint these two renowned contractors with the 35-building project to exemplify our line of high-quality, efficiently-designed buildings.”
The first phase of 18 low- to mid-rise residential buildings will comprise 2,273 units and retail projects in Meydan One. They will be followed by an additional 17 buildings of 2,162 units in phase two. A key design principle will seamlessly interconnect the buildings in a way that is aesthetically pleasing and practically efficient. All of the establishments have been expertly designed to complement the surrounding buildings and landscape, said the statement.
The residences encompass studio apartments, one-bedroom apartments, and two-bedroom apartments.
The project will attract potential investors with its flexible payment plans for end-users as well as the services offered to fully manage the process of renting out units, added the statement.
Azizi Developments’ upcoming project is located between Meydan and Al Khail Road and is set to become an eminent attraction in Dubai when the first phase opens in 2020. The multi-phase projects will be within close proximity to amenities such as schools, hospitals, hotels and restaurants
