Azizi Developments, one of the leading private developers in the UAE, said it has marked another important milestone by selling out the full inventory of Farishta, its soon-to-be-delivered residential tower in Al Furjan, an up-and-coming strategic location with excellent connectivity in Dubai.
Farishta is situated in one of the high-growth corridors of new Dubai, a prime location that boasts easy access to the Dubai Expo 2020 site, Ibn Battuta Mall, Dubai Marina, and JBR (Jumeirah Beach Residence), among many other of the emirate’s points of interest.
With reports of over 25 million anticipated visitors to Dubai set to catalyse the real estate growth in the build-up to Expo 2020, Farishta’s prime location sets it apart as one of the most lucrative developments in Dubai, said the Emirati developer.
According to Azizi, nearly 74 per cent of Faristha’s units were sold to UAE residents and 8 per cent to investors living in the Saudi Arabia, with the rest having been purchased by customers living across 19 other countries.
Units were sold to 44 nationalities, with 27 per cent of customers holding UAE passports, it added.
CEO Farhad Azizi said: "It fills us with pride to know that Farishta will be home to tenants from different walks of life. This achievement perfectly illustrates our mandate to drive foreign direct investment into the emirate - especially with Expo 2020 just a few months away - and echoes our mission to contribute to the economy of this great nation and help to position it at the zenith of the world map."
"Additionally, this milestone adds to our legacy of developing world-class residential destinations and enriching lives through well-connected properties that not only offer outstanding amenities and lifestyle options but also foster a true sense of belonging," stated the top official.
Farishta comprises 284 residences in a mix of 137 studios, 124 one- and 15 two-bedroom apartments as well as eight spacious penthouses. It is a reflection of Azizi’s philosophy of creating world-class properties embedded in master-planned communities that are carefully thought-out, to foster a community lifestyle and create healthy, balanced social settings that promote human comfort and leisure, as well as aesthetics.
"Farishta is one of the many remarkable projects that we are developing in this outstanding location, with 12 already having been delivered, several others to be handed over soon, and many more to come," he added.-TradeArabia News Service