UAE-based Azizi Developments has awarded a contract valued at over AED216 million ($58.8 million) to Chirag Contracting to develop four plots with a total area of more than 1 million square feet.
The contract is divided into two parts with the first valued at AED164.8 million for developing three plots, with a total area of over 769,515 square feet in phase one of Azizi Riviera, the flagship waterfront development in Meydan One.
The second part of the contract is dedicated to a plot in Al Furjan with a total built up area of over 245,244 square feet, which is valued at AED51.6 million.
Farhad Azizi, CEO of Azizi Developments, said: “Delivering our projects as per schedule is our top priority and a commitment to our customers. Our new contract with Chirag Contracting, among several others, underlines our focus on working with best-in-class contractors to develop our developments to the highest standards of quality and aesthetics.”
Launched in July 2017, Azizi Riviera is the company’s flagship community development inspired by the French Riviera lifestyle.
Azizi Developments said it is on schedule with the progress of the project with several residences in the first phase set to be handed over this year.
Upon completion, Azizi Riviera will have 71 mid-rise buildings, with over 16,000 residences including studios, and one-bedroom, two-bedroom and three-bedroom apartments.