Dubai: Azizi set to deliver nearly 7,000 units this year

Azizi Developments, the Dubai-based developer, is on track to deliver 25 new projects this year, with 6,979 units across key developments such as Riviera Phase 4, Azizi Venice, Creek Views III, Vista, and Amber, the company CEO said.

“Last year, we’ve completed 19 projects across Dubai, delivering over 8.4 million sq. ft. of built-up area across 316 floors, with more than 10,229 units sold - up 15.8 per cent year-on-year - worth more than Dh10 billion. We plan on surpassing and approximately doubling most of these figures in 2025. We currently have around 150,000 units under construction, valued at several tens of billions of US dollars. We have already delivered more than 45,000 homes to local and international investors and end users from over 100 nationalities,” Farhad Azizi, Group CEO of the Azizi group of companies, told Khaleej Times in an interview.

The company's portfolio includes landmark projects such as Burj Azizi, set to become the world’s second tallest tower on Sheikh Zayed Road; Azizi Riviera, a 16,000-home French Mediterranean-inspired community in MBR City; Azizi Venice, a 36,000-home lagoon-centric development in Dubai South; and Azizi Milan, a master-planned community of over 81,000 homes along Mohammed bin Zayed Road. “Our focus is on creating fully integrated, sustainable and iconic communities that go beyond mere housing and truly enrich the lives of those who invest and reside there,” Azizi said. 

Property values in Dubai have skyrocketed 70 per cent in four years according to Knight Frank, now also drawing in big name global investors including wall street giants. The emirate has seen more office and hotel deals in the past 2 years than in the past decade combined. Complementing this is the UAE’s tourism boom, which contributed Dh257.3 billion (USD 70.1 billion) to the national economy in 2024—accounting for 13 per cent of GDP—as noted by the World Travel & Tourism Council (WTTC).

Dubai’s property market reached a new milestone in the first half of 2025, with 98,603 real estate transactions totaling Dh326.7 billion ($89 billion), marking its strongest half-year performance on record, as per the latest figures from fäm Properties.

This year, Dubai has welcomed nearly 90,000 new residents in Q1, placing growing pressure on housing supply. Only 12,000 new homes were delivered in that period, fueling further increases in both prices and rents. This widening gap between supply and demand highlights strong market fundamentals and presents a compelling case for continued residential development and investment. According to the latest data from Dubai Land Department, the UAE real estate sector is projected to witness an 80 per cent increase in delivered units this year compared to 2024, helping to satiate the surging demand. 

Farhad Azizi - Group CEO of the Azizi group of companies

“Dubai’s property sector will continue to thrive. This is driven primarily by the city’s many merits, with it being the best place to visit, live and work in. Its world-renowned safety, outstanding legal and regulatory framework, welcoming, tax-free, opportunity-rich and highly business- and investment-conducive environment, and its status as the world’s most popular tourist destination, all contribute to the surging population (expected to hit 5.8 million by 2040) and visitors, and as such, to the exponentially growing popularity of real estate here,” Azizi said. Minor price corrections may take place in the remaining months of 2025 or beyond, as part of any healthy market cycle, but these will be overshadowed by the mid- to long-term upward trajectory in property values, he added.

The company is actively exploring and working on blockchain-based innovations, including tokensiation, for its projects. “Tokenization is a natural progression in an industry that’s rapidly evolving to become more safeguarded, accessible, transparent, and technology-driven. By turning real estate assets into digital tokens on a blockchain, the industry also opens its doors for a broader range of investors to participate—making ownership more inclusive while transactions are becoming more efficient. Tokenization has the potential to simplify traditionally complex processes, entails lower barriers to entry, and builds greater trust through secure, transparent records and transactions. “I see tokenization becoming a fundamental part of how property is bought, sold, and held—particularly in forward-thinking cities like Dubai that are setting the pace for digital transformation in real estate. Moreover, we are also engaging in strategic partnerships that enable secure cryptocurrency payments, particularly in markets where digital assets are gaining traction,” Azizi said. 

Beyond the UAE, Azizi has set sights on international markets as well, with the recent launch of its first project in Germany. “With our first project in Germany, which was a test-run in one of the most stable and mature European markets, already successfully having been completed and handed over, and a project in France currently being underway, we are also exploring other lucrative markets, including the UK where will soon be launching 5-6 high rise towers in Central London, in a prime area right on River Thames, with more than 1.5 million square feet of net sellable area, Australia, Canada and the US, amongst others,” Azizi said.