Dubai sees pronounced uptick in demand for retail units

Leading private developer Azizi Developments notes a 60% surge in sales enquiries for retail units in H1 of 2020

Dubai, UAE, 18 June 2020: Azizi Developments, a leading private developer in the UAE, has noted a substantial surge in demand for its 700+ retail units across its communities in Dubai. Since January 2020, the developer has sold 75 units in MBR City’s Riviera, 40 units in Al Furjan, 19 in Dubai Healthcare City, 6 in Jebel Ali, 5 on Palm Jumeirah and one in Dubai Studio City, bringing the total retail units sold to 146. With enquiries having increased by 60%, sales conversions are on the rise.

Nima Khojasteh, Executive Director – Sales and Marketing at Azizi Developments, said: “We are pleased to see our retail unit sales growing so rapidly, despite global challenges posed by the outbreak of COVID-19, which has temporarily impacted brick and mortar businesses. Tangible interactions will always be key to many businesses, especially those dealing in food and beverages, convenience and health and beauty.”

“Integrating retail space into our lively, strategically located developments and communities is mutually beneficial for our residents, who benefit from easy access to lifestyle-enhancing leisure and convenience options, as well as for commercial entities, who have a vibrant, bustling environment with an abundance of footfall to conduct their business in”, he added.

Azizi’s retail units are embedded into its master-planned communities and residential towers, adding leisure, shopping and eatery amenities and creating a bustling social space with a strong potential for business profitability. The developer has taken several steps to ensure the appeal to – and success of – businesses that will occupy the space, such as through the provision of ample parking space, outstanding visibility due to large roads, wide walkways and substantial traffic, and exceptional connectivity to Dubai’s largest highways.

Retail units on Azizi Riviera’s 1.6km integrated boulevard and 2.6km canal walk are considered to be an exceptionally smart investment with the community being home to over 16,000 families, and it being forecasted to welcome a sizable volume of visitors as a landmark and cultural hotspot. Azizi’s retail units in Riviera currently start from AED 488K, with a 50% DLD fee waiver and 4 years of free service charge. Investors cann earn a projected ROI of up to 12%.

Azizi Developments

Azizi Developments is a leading developer based in Dubai, UAE. With thousands of homes successfully delivered to local and international investors and end users of over 100 nationalities, the developer prides itself on its extensive portfolio of modern luxury developments across Dubai’s most sought-after residential destinations, its construction-driven approach, and its commitment to transparency and customer centricity. Azizi’s residential and commercial properties are investor friendly, catering to all lifestyles. The developer makes it its international mission to develop lifestyles and enrich the lives of its residents with a focus on catalysing the vision and development of the markets that it operates in.

Azizi currently has 54 ongoing projects that are to be delivered between 2020 and 2023, and an additional 100+ projects in planning, worth several billion US dollars, that are projected to be delivered between 2023 and 2025. The company has a strong track record and sizeable project pipeline through its extensive land bank and strategic partnerships with Dubai’s key master developers and is instrumental in developing world-class properties in MBR City, Palm Jumeirah, Dubai Healthcare City, Al Furjan, Studio City, Sports City and Downtown Jebel Ali.

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