Azizi to start building USD1.5bn tower 

Staff Report,

Dubai, UAE

Azizi Developments, a leading developer in the UAE, has said that it will start the construction of the second tallest tower, worth USD 1.5 billion (Dh5.51 billion). The tower will fall second to Burj Khalifa, the world’s tallest tower standing at over 828 metres. Azizi’s ambitious skyscraper is located on prime plot of land on Dubai’s Sheikh Zayed Road. Slated for completion within four years, the tower will feature a vertical mall, luxury residences and penthouses, a 7-star hotel, an observation deck, and numerous high-end F&B options, among other amenities.

As per Azizi’s initial announcement, the project was supposed to commence in the third quarter of 2018, facing a delay in beginning the construction by more than five years.  The mixed-use tower rose to a height of 570 metres, composed of 122 floors. It housed 100 levels of residential apartments and a luxury hotel on the remaining 22 levels. The total development cost stood at Dh3 billion.

Updates on the tower’s details will be shared by the developer at a later date. It has appointed the design house, ae7, as the consultant. The date of the official ground-breaking ceremony will also be announced later.

Commenting on this milestone announcement, Mr. Mirwais Azizi, Founder and Chairman of Azizi Developments, said, “Today is a special day as we finally break 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.”

“This tower will be our legacy. With Dubai having given my family and I so much – safety and abundance of opportunities – this tower, which will be the second tallest, is our way of giving back to this emirate and its remarkably hospitable and welcoming people.” he continued.

The second tallest tower will reinforce Dubai’s global position as one of the most sought-after locations for super-tall buildings as well as boost the Emirate’s thriving real estate and tourism.

Ends

Also read: Azizi sold 8,834 units in 2023, schedules delivery of 6,069 more in 2024