Dubai’s real estate landscape is buzzing with excitement as Azizi Developments unveils its latest masterpiece, Azizi Venice. With an astounding investment of Dh30 billion ($8.16 billion), this mixed-use mega project promises to redefine luxury living and entertainment in the heart of Dubai South.
The Azizi Venice Marvel
Azizi Venice is not just another real estate project; it’s a city within a city. Sprawled across a vast 15-million-square-foot plot of land, this ambitious development aims to provide homes to over 80,000 residents and attract around 30,000 visitors daily. At its core, Azizi Venice boasts more than 30,000 homes, including a collection of 100 mid-rise apartment complexes and over 400 lavish villas and mansions. But that’s not all.
A Cultural Oasis
Dubai is known for its cultural diversity, and Azizi Venice is set to enhance this reputation further. The project will be home to Dubai’s second opera venue, complementing the world-renowned Dubai Opera. This addition signifies Dubai’s commitment to enriching its cultural offerings, making it a hub for arts and entertainment in the region.
Amenities Galore
Azizi Venice isn’t just about residences; it’s a lifestyle destination. The development will feature a temperature-controlled pedestrian boulevard, offering a serene environment for residents and visitors to unwind. Moreover, there will be a lagoon, pristine beaches, and captivating musical and dancing fountains, ensuring there’s always something delightful to experience.
A Glimpse into Dubai’s Booming Real Estate Market
The launch of Azizi Venice is a testament to Dubai’s resurgence in the real estate market. The city has bounced back strongly from the challenges posed by the COVID-19 pandemic, thanks to various government initiatives, including extended residency permits for retirees and remote workers.
Additionally, Expo 2020 Dubai and surging oil prices have fueled economic growth, attracting investors and residents alike. According to Knight Frank’s recent report, residential real estate prices in Dubai witnessed a remarkable 17% annual increase in the second quarter of the year. This marks the 10th consecutive quarter of expansion, underlining the sustained demand and robust economic growth in the emirate.
The report also revealed that property prices in Dubai rose by 4.8% from the previous quarter, showcasing the city’s attractiveness to both local and international investors. In a further demonstration of Dubai’s real estate prowess, it registered the highest number of residential sales of units valued at over $10 million globally during the same quarter. This achievement surpassed the likes of New York, London, Paris, Hong Kong, Sydney, and Singapore.
The Future of Azizi Venice
Azizi Developments, as the master developer, is set to deliver this grand vision to life. They will oversee the construction of the buildings, roads, and all necessary infrastructure. Additionally, the community will be enriched with two five-star hotels operated by Azizi, along with a boutique hotel on an island amidst the lagoon.
But Azizi Venice is not just about luxury living. It will also include schools, a hospital, a cycling and jogging track, yoga and sports facilities, and a vibrant promenade dotted with eateries and boutiques. It’s a self-sustained ecosystem designed to cater to every need of its residents.
Furthermore, Azizi Developments has ambitious plans for the future, with an investment of up to Dh60 billion in developing a portfolio of 50 hotels and resorts in Dubai, including a seven-star hotel. This will add nearly 20,000 new keys to Dubai’s hotel offerings over the next five years, further solidifying the city’s position as a global tourism hub.
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