The Azizi Iris Residence project comprises of 99 units and will be located in Al Furjan near Discovery Gardens, the company said. It said that construction had begun and completion was expected in December next year.
“Azizi.Iris Residence is a great opportunity for institutional investors as well as individuals with the aim of a long-term investment opportunity while having a real estate asset in Dubai’s top residential destination of Al Furjan,” said Mohsen Kamel, the Azizi chief executive.
Prices start at AED925 per square foot for an unfurnished unit, and AED950 per sq ft for a fully furnished unit. Sizes range from 874 sq ft to 2,089 sq ft.
In its latest report on the UAE property market, the consultancy EC Harris said: “Over the past quarter, barely a week goes by without a new major property development being unveiled. The Dubai government has also stated that all new and existing construction projects are going to be fast-tracked to be ready for the Expo 2020.”
Last month Azizi launched a 99-unit apartment project called Azizi.Orchid Residence Al Furjan, with an estimated value of AED140m. The project comprises one- to three-bedroom furnished apartments. Prices start at AED950 per sq ft and completion is expected by December next year.