UAE-based Azizi Developments has announced the release of its last retail and commercial units across phases one and two of Riviera, its new French Mediterranean-inspired landmark destination in Dubai, following the market’s rapid absorption of its existing inventory.
This move comes in light of a substantial surge in demand for units facing the newly announced lagoon, which will allow residents to swim in crystal blue, filtered and desalinated waters and unwind on its beach-like shores, said Azizi in a statement.
Following the surprise announcement of the lagoon last month, Azizi has sold out its existing released inventory of lagoon-facing units within just days, it added.
"The gigantic crystal lagoon, which is akin to a massive swimming pool over 2.7 km long, that will cover an area of more than 130,026 sq. m and will stretch across the entirety of the Riviera development in MBR City, is a major selling point to investors," said its Chief Development Officer Mohamed Ragheb Hussein.
"Adding the lagoon to this already outstanding master planned community enriches the lives of Riviera residents immeasurably. This, needless to say, is very well reflected in the number of inquiries we are receiving for - and sales volumes of - units that are adjacent to it," he explained.
"Not only our residential units are flying off the shelves, but also our retail units, which, evidently, now hold a much higher potential for investors. Our overarching mission to build world-class, master planned communities that foster a true sense of belonging, offer growth-inclined ROIs and enhance lifestyles, is underpinned by initiatives such as this stunning lagoon. It is a win-win situation in which our tenants and investors benefit from recreational and convenience options, while commercial organisations will have a vibrant, lively atmosphere to successfully conduct businesses in," he added.
Beyond Riviera, Azizi is also expanding its retail offerings in other projects, such as in Creek Views I, which is situated on the iconic Dubai Creek in Dubai Healthcare City.
Retail units on Azizi Riviera’s 1.6km integrated boulevard and 2.6km lagoon 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, stated the developer.
Azizi Developments' engineering team is collaborating closely with its marketing team to create the best-possible customer experience for visitors of its retail units, observed Hussein.
"Azizi’s marketing department is deeply involved in setting the appropriate retail-unit mix, layouts, and other factors to ensure that that they meet investor and retail-shop owner needs and wants, helping them meet and exceed their product and service sales targets," he added.