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The addition of a giant lagoon to Dubai’s flagship Riviera project has led to a surge in investor demand

According to the Senior Executive Director of Azizi Developments, the addition of the Laguna lagoon to the flagship Riviera project has caused a huge stir among Dubai real estate investors and buyers. Moreover, according to Azizi’s report, all released apartments overlooking the lagoon sold out in just a few days.

The Chief Development Officer of the company, Mohamed Ragheb Hussein, reported that both residential and retail units of Azizi are selling out fast. At the moment Dubai’s leading private developer, Azizi Developments, has around 100 ongoing projects, which will be implemented between 2020 and 2023 and more than 100 other projects, which will be implemented between 2023 and 2025.

The Riviera project has a strategic location which is in close proximity to the forthcoming Meydan One Mall and the Meydan Racecourse, which is the home of the Dubai World Cup. Riviera by Azizi is planned to include 71 mid-rise buildings with approximately 16,000 residential units upon its completion. The Waterfront community in the centre of MBR City is developed in a French-Mediterranean style. The residential complex will include three districts: the lagoon walk with eateries and boutiques, the wide retail boulevard and the vast and verdant social space – Les Jardins.

Residents of the Riviera complex will have access to the crystal blue waters of the man-made giant lagoon, as well as recreation areas and activities on the beach area around it. The length of the lagoon will constitute more than 1.2 mi and the area will be more than 1,399,000 sq. ft. Over 51.5 million gallons of water were used for filling the lagoon, which will stretch across the entirety of the Riviera complex in MBR City. According to the words of Azizi Developments’ CEO Farhad Azizi, the lagoon will definitely increase the ROI of them Riviera project. He also added:

“It took a lot of planning, with many of our dear stakeholders having been involved in making this ambitious plan a reality, but we are happy to now be able to reveal that this marvellous body of water, which is sure to make ROIs on Riviera’s properties surge, will be built within the coming year. We are overcome with joy to thereby turn Riviera into a more aesthetically pleasing, unique and recreational destination – one that truly adds to the lifestyles of those residing there.”

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