Real Estate

 Officials at the signing ceremony ... the contracts will see two out of four phases in Meydan One developed this year.

Officials at the signing ceremony ... the contracts will see two out of four phases in Meydan One developed this year.

Azizi signs Meydan One deals

May 2017

Azizi Developments, a leading UAE-based real estate developer, has awarded two construction contracts worth Dh1.7 billion ($462.85 million) to build 35 buildings in the  Meydan One development.

The contracts are for two out of four phases that will be constructed this year, the company says. KCC Engineering Construction & Maintenance and Actco General Contracting Company were appointed to build the multi-phase project.

At the signing ceremony were Mirwais Azizi, chairman of Azizi Developments, and Saeed Humaid Matar Al Tayer, chairman of the board and CEO of Meydan City Corporation.

The developer announced the purchase of 186 plots within Meydan One development last February, which are now amalgamated into 76 buildings. 

Al Tayer says: “Our ongoing collaboration with Azizi Developments continues to exceed expectations. Awarding contractors with proven track records like KCC and Actco means that this project is moving forward quickly while still maintaining the highest quality standards. This united effort to make Meydan the number one leisure destination is now showing results and bolstering its position in the region as an exciting location for residential developments and retail projects.”

Azizi, who signed the contracts, says: “Delivering a new community asset that will simultaneously attract people from all over the city and appeal to families is a challenge that we have risen to. We are pleased to appoint these two renowned contractors for the 35-building project to exemplify our line of high-quality, efficiently-designed buildings.”

The first phase of 18 low- to mid-rise residential buildings will comprise 2,273 units and retail projects in Meydan One. These will be followed by an additional 17 buildings of 2,162 units in Phase Two. A key design principle will seamlessly interconnect the buildings in a way that is aesthetically pleasing and practically efficient.  All of the establishments have been expertly designed to complement the surrounding buildings and landscape. The residences encompass studio apartments, one-bedroom apartments, and two-bedroom apartments. 

Azizi Developments’ project, located between Meydan and Al Khail Road, is set to become an eminent attraction in Dubai when the first phase opens in 2020.

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