Azizi Developments is a leading real estate developer based in Dubai, United Arab Emirates. Founded in 2007 by Mirwais Azizi, the company has rapidly become one of the top developers in Dubai and the UAE.
Azizi Developments has a strong track record of delivering high-quality projects on time. The company is focused on providing affordable luxury housing in prime locations across Dubai.
But is Azizi Developments a good developer for homebuyers and investors in Dubai? Let’s take a closer look at Azizi’s projects, company profile, awards, customer reviews, and market reputation:
About Azizi Developments
Azizi Developments is part of the giant Azizi Group, which has interests in various sectors like construction, hospitality, trading, and energy. The real estate arm was founded by Mirwais Azizi in 2007 to provide high-quality yet affordable housing options to Dubai residents.
Under Mirwais Azizi’s leadership, Azizi has built an impressive portfolio of over 200 projects worth AED 45 billion. The company employs over 1200 people from 50 different nationalities. Azizi Developments is focused on constructing premium residences and master-planned communities across Dubai.
The current CEO is Mirwais’s son, Farhad Azizi, who has continued the founder’s vision of delivering value for money to customers through transparency, quality construction, and strategic use of technology. Azizi Developments is considered one of the most active developers in Dubai, having handed over 8200 units already. They aim to deliver 54 more projects by 2023 and 130 by 2025.
Judgment Factors
Project Delivery
One of Azizi’s biggest strengths is timely project delivery. The company has consistently delivered projects on schedule, which builds trust among investors. For instance, Azizi’s Aliyah project in Dubai Healthcare City was completed and handed over in 2019 per the timeline.
Azizi’s CEO, Farhad Azizi, has stated that timely delivery is a key priority for the developer. The company works closely with contractors and regularly monitors construction progress to avoid delays.
This ability to deliver projects on time indicates Azizi has strong project execution capabilities. For buyers, it provides confidence that their property will be completed as promised.
Strategic Locations Across Dubai
Azizi Developments has a good eye for prime locations in Dubai. All their projects are located close to the main highways, amenities, and employment hubs. For example, Aliyah enjoys excellent connectivity in Dubai Healthcare City. Azizi Riviera along the Dubai Water Canal has uninterrupted views and access to retail/leisure options.
Other projects like Azizi Victoria, Azizi Venice, Farhad Azizi Residences, etc., are upcoming areas along Mohammed Bin Rashid City and Dubai South. Once infrastructure develops, these areas will see capital appreciation. Azizi has got in early by launching premium developments. The easy connectivity amplifies the lifestyle of residents in Azizi’s properties.
Strong Track Record
Azizi Developments made a remarkable turnaround after the 2008 financial crisis. Since 2013, the company has launched over 200 projects. It has delivered more than 10,000 units, indicating solid execution capabilities.
Azizi’s completed projects have received positive reviews from residents. Some of the company’s popular delivered projects include Azizi Farhad Azizi Residence, Azizi Aliyah Residence, Azizi Grand, Azizi Gardens, and Azizi Plaza. The developer’s strong track record provides confidence to buyers that projects will be completed with good quality. For investors, it reduces concerns regarding delays or poor construction.
Value for Money Developments
Regarding property prices in Dubai, Azizi Developments has succeeded in providing value for money options. Their studio apartments start from AED 500k in areas like Dubai Healthcare City, a very attractive entry price.
Mid-range 1-2 Bed are priced AED 800k onwards in projects across Al Furjan, Dubai South, Studio City, etc. The high-end 3 Bed units and villas exceed AED 5-6 million. But overall, Azizi’s rates are very competitive compared to other nearby developers.
There is cost optimization across construction, materials and amenities. But this does not compromise build quality or features at par with Dubai’s premium developers. Prospective buyers get more spacious and well-designed units by opting for Azizi. The value pricing works very well for investors, too, as it attracts high rental yields.
Strong Local Expertise
As a Dubai-based private developer, Azizi Developments has deep insights into the local real estate market. The company adopts a customer-centric approach, designing projects based on needs of local homebuyers and residents.
Azizi properties include family-friendly designs, amenities tailored to the local climate, and convenience features for everyday living. For instance, the developer puts strong emphasis on community living within its projects.
The local expertise enables Azizi to develop projects suited for the Dubai market. This gives the company an edge compared to other developers expanding into Dubai.
Easy Payment Plans
Azizi allows flexibility in payment plans making property purchases more accessible. Their well-structured post-handover plans are the highlight, offering up to 80% payment on completion. During construction, buyers need to pay only 10-20% in installments.
This makes investment more feasible for a larger segment of buyers instead of paying everything upfront. Azizi also offers guaranteed rental returns for 3-5 years, assuring investors of timely returns. The payment flexibility is coupled with waived DLD fees, free service contracts, etc., which improve the savings.
Reliable Construction Quality
Azizi properties score highly for their construction quality and beautiful architecture. As a private developer, Azizi exercises full control over the construction process which helps maintain standards. The company has partnered with Grade A contractors like Arabtec.
They pick materials from the best suppliers. World-class consultancies like KEO and Atkins provide engineering and design expertise. State-of-the-art technology is used for modeling and simulation analyzing structural integrity.
The high quality shines through in the finished properties with durability and efficiency. Homeowners can expect minimal wear and tear even after years of usage.
Azizi Developments has won multiple awards for its construction excellence. These include “Best Developer” at the Gulf Real Estate Awards and “Developer with Best Construction Quality” at the European Property Awards.
Innovation and Sustainability
Azizi Developments utilizes innovation in its construction techniques and sustainability features. The company uses Building Information Modeling (BIM) and parametric design to optimize efficiency and reduce waste. Projects by Azizi feature green building materials, energy-efficient HVAC systems, and smart home automation. For instance, the Azizi Riviera project is designed to be LEED Gold certified. By integrating innovation and sustainability, the developer creates high-quality projects with lower environmental impact. This adds value for end-users and investors alike.
Strong Industry Recognition
Azizi Developments has received numerous awards in the real estate industry, recognizing its capabilities as a developer. Some of the key awards include:
– Developer of the Year at Arabian Property Awards
– Best Developer Website at International Property Awards
– CSR Label from Dubai Chamber for 4 consecutive years
– Best High-Rise Architecture UAE at International Property Awards
– Most Innovative Developer at Gulf Real Estate Awards
The strong industry recognition indicates that Azizi Developments adheres to global best practices. It also demonstrates that the company has earned the trust of stakeholders based on its performance.
Reliable Post-Handover Services
Azizi Developments provides comprehensive post-handover services to ensure a smooth transition for residents. The developer handles service requests promptly through a dedicated customer care team. Homeowners can access facilities management, repair and maintenance services, security services and amenities upkeep after receiving possession of their property.
For investors who plan to rent out their property, Azizi also offers rental management services. The post-handover services add to the living experience in Azizi projects.
Areas of Concern
While Azizi Developments scores well across major parameters, there are some areas of concern to consider:
Fast Expansion Plans
Azizi Developments has grown rapidly from 1 project in 2013 to over 200 projects. While growth is positive, such a fast pace also comes with risks of compromising on quality or timely delivery at some point.
As the company takes on multiple large-scale projects, it needs to ensure that construction delays and quality issues do not creep in.
Untested New Areas
Some upcoming projects by Azizi are located in new areas with limited population and infrastructure currently. For instance, the Azizi Victoria project is in MBR City, which is still under development.
While these areas hold growth potential in the long run, they carry higher risk in the short to medium term. Project demands and capital appreciation could be slower in such areas.
Speculative Buying Risk
Rapid launches from Azizi have led to significant speculative buying, especially by investors hoping to profit from quick flipping. This increases the risk of oversupply if speculators are not able to sell and exit. Slower investor sales could negatively impact project demands and pricing.
Execution at Large Scale
Azizi will need strong project, financial and workforce management to handle multiple mega developments. Any weaknesses in execution capabilities could result in delays or cost overruns.
After-Sales Service Standards
As Azizi projects get older, the company needs to maintain service standards. This gets challenging with higher volumes of residents and properties under management. Any decline in after-sales service can impact resident satisfaction and word-of-mouth for the developer.
Azizi’s Premium Projects in Dubai
Azizi has premium residential projects across popular areas like Downtown Dubai, Palm Jumeirah, Dubai Healthcare City, Al Furjan, Sports City, and Meydan. Some of their landmark projects include:
Azizi Venice: Azizi has recently announced an exciting off-plan project called Azizi Venice. This venice-inspired waterfront project offers two residential towers from G+10 to G+22 floors, with retail, dining, entertainment, schools, parks, and other amenities. Azizi Venice will feature studios to 3-bedroom apartments across two towers, and 261 villas. The project is due for completion in 2027. Units enjoy scenic views of the lagoon, waterpark, Crystal Lagoon, and other water features.
Azizi Venice offers smart home technologies and luxury fittings. Prices start from AED 550,000, with flexible 50:50 payment plans available. The location next to Al Maktoum Airport and near the proposed metro station makes it ideal for connectivity and future growth.
Azizi mostly develops high-rise towers and large communities offering apartments, duplexes, townhouses and some villas. The residential units range from compact studios to spacious 3-bedroom apartments. They feature modern Arabic architecture with landscaped gardens, retail spaces, pools, gyms, play areas, and other amenities. The interiors are well-designed with quality fittings.
Conclusions
On the whole, Azizi Developments scores well on most parameters that matter to homebuyers and real estate investors. The company has built a strong reputation in Dubai’s property market based on its performance over the past decade.
Azizi’s biggest strengths are timely delivery, prime locations, affordable pricing, local expertise, and transparency. The developer has achieved rapid growth while maintaining a focus on construction quality and customer service standards. However, Azizi needs to manage risks arising from fast expansion, unproven locations, speculative buying, large-scale execution, and maintenance of service levels.
Overall, Azizi Developments has established itself as one of the top developers that caters well to middle-income homebuyers. It has consistently delivered good-quality projects. For investors, Azizi offers a robust value proposition combining affordability, prime locations, and reliable execution. While there are risks stemming from the developer’s rapid growth, Azizi has built capabilities to manage large-scale projects.
Based on its track record and competencies, Azizi Developments is a good developer in Dubai’s property market. The company remains well-positioned to cater to housing demand across different price points. Backed by its local expertise and transparency, Azizi will likely remain a trusted developer brand among buyers and investors.