UAE - Mubasher: Azizi Developments, a leading private developer in the UAE, announced it has recorded an 8% growth in sales to investors from Saudi Arabia between 2018 and 2019, becoming the second-largest customer demographic after Emiratis.
Saudi Arabians account for 25% of Azizi Development's total customers, followed by India and Pakistan with 10% and 4%, respectively, according to a press release.
With Emiratis making up the largest customer demographic with 52%, the remaining percentage represents investors from the GCC region, Europe, and China.
It has been proven that Azizi Developments’ projects are a popular choice among Saudi investors for being based on extensive research to find out the most attractive locations with the most positive return on investments, the release noted.
Farhad Azizi, CEO of Azizi Developments, said: “While Dubai continuously cements its international standing as one of the world’s most popular real estate investment destinations, we are seeing a particular surge in demand from KSA property intenders. With their investor savviness, the trust and faith they place in us speak volumes about the quality of our work and our constant pursuit of customer-centricity, which we will continue to uphold.”
The Riviera, Azizi Developments’ waterfront project in Meydan One comprising 71-building, has received the strongest response from Saudi investors to date, the company indicated.
Meanwhile, Mina, the UAE-based developer’s premium project on the East Crescent of Palm Jumeirah, was the second popular choice among Saudi investors, followed by the company’s towers in Al Furjan.