Dubai-based real estate developer Azizi #Developments has commenced construction #work on the expansion of Phase 3 of its $3.2bn (AED12bn) French Mediterranean-inspired #waterfront-lifestyle development #Riviera in Mohammed Bin Rashid Al Maktoum City (#MBR #City).
The construction value of Riviera’s Phase 3 is $272.2m (AED1bn), the overall value stands at $544.5m (AED2bn).
Riviera Phase 3 comprises 3,671 units ranging from 994 studios to 2,142 one-bedroom, 508 two-bedroom, and 27 three-bedroom homes.
Commenting on the Phase 3 expansion, founder and chairman of Azizi #Developments, #Mirwais Azizi, said: “The investor response to the first two phases, as well as to the first #buildings in the third phase, has been phenomenal, surpassing our expectations.”
The #developer said that all buildings within the Phase 3 will feature gyms, two swimming pools, saunas, steam rooms, and children’s play areas, additionally the structures will be surrounded by vast green open spaces.
Meanwhile, construction activities at Riviera are progressing rapidly. Phase 1 of the development is now over 60% complete, with Phases 2 and 3 having reached 37% and 22% progress, respectively.