Burj Azizi ... to be built at an investment of $1.5 billion.

UAE-based Azizi Developments has unveiled plans to build the second tallest tower – Burj Azizi – in Dubai on a prime plot of land on Sheikh Zayed Road at an investment of $1.5 billion.

Scheduled to be completed within four years, the skyscraper will feature a vertical mall, luxury residences and opulent penthouses in addition to a seven-star hotel, said the developer.

The tower will also be home to a one-of-its-kind observation deck as well as numerous high-end food and beverage (F&B) options, among other exciting features and amenities, it stated.

On the milestone announcement, Founder and Chairman Mirwais Azizi said: “Today is a special day as the group finally breaks ground on one of my dream projects in Dubai. While the formal ceremony will be held later, I am delighted to be marking this occasion with our own team at Azizi – a team that will be building this iconic tower.”

The date of the official ground-breaking ceremony will be announced later.

In another development, Azizi has extended its partnership with Toshiba Elevator, the Japanese manufacturer of the world’s fastest elevator, that will see the company supply, design and install passenger and service elevators for its premium projects – Azizi Central, Azizi Grand, Azizi Vista and Beach Oasis projects.

Built for young, in-vogue adults and families alike, Vista is a luxury low-rise residential building, nestled in one of Dubai’s most dynamic and youthful areas, adjacent to Sports City and Motor City.