Azizi Riviera, a waterfront development in Dubai, has reached an important milestone after construction work passed the 20% completion mark.
Azizi Developments' $3.2bn (AED12bn) multi-phase residential community has made steady progress, with ground floor works completed for the cluster of mid-rise buildings in Meydan One.
First-floor construction is now under way, with structural work on the second and third floors set to be start later this month.
The developer has continued to report steady progress on the mixed-use residential development that counts several local contractors among the firms on the site.
Buildings for Phases 1 and 2 are being constructed by KSS Engineering and Construction and Zahrat Al Safa Contracting respectively, while Prestige Constructions is tasked with erecting 13 mid–rise towers for Phase 3.
Phase 4 main construction contracts went to Emirati firms Majed Hilal Contracting, which is tasked with building 11 mid-rise towers in a $155.7m (AED572m) deal. Evershine Contracting signed a $152m (AED559m) contract to build 10 mid-rise towers earlier this year.
Chairman of Azizi Developments, Mirwais Azizi, said the community development would offer both residents and property investors a "high" return on investment, thanks to an expected "appreciation in property value in the build-up to Expo 2020 Dubai".
Azizi Riviera will feature an integrated retail complex that has a mix of high-street shops, leisure and entertainment amenities. Plans to build a marina are also in the pipeline.