Azizi Developments launches Dhs. 350 million Royal Bay Residence project on Palm Jumeirah
· 90 luxury boutique fully serviced residential apartments part of company’s Dhs. 4.5 billion development plan
· Real Estate developer set to deliver 8 projects at Al Furjan in 2016.
On 25th February 2016, Dubai real-estate developer, Azizi Developments announced the launch of Royal Bay Residence, an exclusive collection of 90 fully serviced luxurious residential apartments situated on the crescent of Palm Jumeirah, next to Anantara Hotel. The launch announced to the media in the luxurious Xclusive yacht of Dubai Marina Yacht Club was an apt venue for bespoke & opious Royal Bay Project. The new project is part of company’s Dh4.5 billion development plan to build thousands of flats in Nakheel’s Al Furjan project and Palm Jumeirah. Overlooking the picturesque skyline of Dubai Marina, Hotel Atlantis and Burj Al Arab, among other landmarks, Royal Bay is offering home buyers a unique chance to secure a place in one of the few remaining developments on the eighth wonder of the world.
Mr. Farhad Azizi , CEO Azizi Developments, stated that ““Azizi Developments has a different strategy. We prefer to start construction in our projects before the launch and sales process takes place, the construction of our boutique offering of Royal Bay Residence has already commenced and the response on the project is very positive. Royal Bay blends contemporary architecture with supreme level of comfort and flair. Every detail exudes quality and style. It’s a home with a resort feel – direct beach access, swimming pools, gymnasium, recreational options, landscaped gardens and concierge services are few of the many features of the development. This has been our strategy in all projects, i.e, to under promise and over deliver.”
The building has been designed with 45-degree orientation to allow all the living rooms, kitchen and bedrooms to get a sea view. Mr. Gibran Buhair, Sales Director at Azizi Developments, pointed out that at Royal Bay “You will be looking at a Work Of Art right out of your window from every side conceivable.” Sizes range between 802 sqft to 1,638sqft for the apartments while prices start at approximately AED 2.2 million and go up to AED 4.5 million. The project also offers an attractive 20:80 payment scheme, wherein buyers pay 80% only upon handover.
With a plot area of 4,787 sq. m and built up area of 11, 246 sq. m, the development offers a choice of 58 one bedroom, 30 two-bedroom units spread over 8 floors and two outstanding penthouses located on the 9th floor, offering the most spectacular panoramic views in the area and having its own pool and Jacuzzi. Construction of the Dhs. 350 million project has already commenced and is expected to complete by March 2017.
“We are in a very healthy phase of the property cycle, the next few months of market stabilization and then economy is going to recover very fast by mid-2017 and these are good times for buyers to invest in a good location and good property to make a profit and capitalize on quick price appreciation. Royal Bay is one of the last few developments at the crescent on Palm Jumeirah and will offer buyers great returns on their investment of up to 10%. Owning a one-, two- or three-bedroom unit on the crescent is an enticing proposition as Palm Jumeirah continues to lead the Dubai market in both rental yield and property value retention”, further commented Mr.Farhad Azizi.
Royal Bay Residence features
- Royal Bay offers spacious and well-designed bedrooms with floor-to-ceiling windows and large terrace with unobstructed sea views.
- The bright and functional spaces are created with high-quality materials and contemporary lighting fixtures.
- The kitchen is fully equipped with state-of-the-art European appliances and all apartments are fitted with a selection of integrated appliances, including built-in cooker and built-in oven that seamlessly blend into the space for a modern and stylish look. Dishwasher, refrigerator/freezer and washing machine are also supplied.
- Distinctive and elegant en-suite bathrooms are designed and built to the highest standards with high-end European fixtures.
- Other key features of the project are 3 Gourmet restaurants, Housekeeping, Room Service, Personalised butler, Valet parking, Chauffeur-drive service, Climate-controlled infinity pools, Children’s pool & play area, State of the art gymnasium and sauna, 24-hour concierge service, Area with CCTV surveillance and 24-hour security.
Azizi Projects and plans
Azizi Developments is the biggest sub-developer in Al-Furjan and currently owns 24 plots in the community with plans to purchase more in the latter half of this year. Al Furjan is a residential development located between Sheikh Zayed Road and Mohammed bin Zayed Road, adjacent to Discovery Gardens. It is in the proximity of Al Maktoum International Airport and the Expo 2020 site. It is an up-and-coming community. In Palm Jumeirah, the company has three plots where it has completed 25 percent of construction on one with sales already underway. The company also owns plots in Dubai Healthcare City and Ajman.
The company, which is owned by the chairman Mirwais Azizi, owner of the second-largest commercial bank in Afghanistan, has witnessed around US $217m (AED800m) worth of sales in 2015 for its projects in Dubai. Starting this March, Azizi is expected to deliver 8 projects at Al Furjan – Azizi Feiruz, Azizi Yasmine, Azizi Liatris, Azizi Ochide, Azizi Iris, Azizi Daisy, Azizi Tulip and Azizi Freesia during 2016. The company also plans to develop hotel and hotel apartments on its plots in Al Furjan, Palm Jumeirah and Dubai Healthcare City.
Since its foundation in Afghanistan in 1989, Azizi Group has been pushing the boundaries to become one of the world’s influential players in the global business landscape. Today, the Dubai-based Group is a successful conglomerate with an efficiently-managed portfolio and a significant international presence.
Azizi Group embraces sectors as diverse as banking & finance, oil, gas & mining, tourism & hospitality, real estate investment and development. It has consolidated its position in the Middle East and expanded its presence to Central Asia, Eastern and Central Europe. The Group is also actively involved in philanthropic work through its Afghan-based organization, Azizi Foundation, working closely with vulnerable communities to facilitate their empowerment and implement sustainable change.
Azizi Developments, a subsidiary of Azizi Group, is an international real estate developer with a solid reputation, experience and financial strength to execute projects of varying complexity. It owns and manages a private portfolio of high-quality properties, combining contemporary architecture with clients’ requirements and expectations. Each residential project adds value to the communities in which they are located.