UAE investors make up the largest buyer group, followed by investors from Europe
Dubai, United Arab Emirates,: Azizi Developments, a leading private developer in the UAE, has sold all of the homes in its exceptionally well-connected residential development in Al Furjan, Berton. The units of the 85%-completed project were sold to 49 different nationalities.
UAE investors have snapped up most the units at Berton, followed by investors from Europe, representing 33% and 27% of the sales respectively. The nationality breakdown also conveys a noteworthy demand from subcontinental ROI hunters, which make up 25% of the sales. These are followed by buyers from the United States of America, Canada, Brazil, Lebanon and other nationalities.
The developer also noted an increasing demand from residents choosing to own their property rather than renting one, with monthly mortgage instalments being lower than rental payments, and with there being a highly promising outlook for substantial capital appreciation in the UAE.
In his comments on the rapid sales and construction at Berton, Mr Farhad Azizi, CEO of Azizi Developments, said: “Dubai truly is a microcosm of the world; thus, it’s never surprising when our projects sell to such a wide variety of nationalities. Our roadshows, fly-in programme, and other extensive marketing efforts in countries beyond the UAE also contribute to this. Our sales framework, rooted in our commitment to transparency, customer centricity and offering distinguished, value-adding, world-class properties that are direct responses to current market needs and wants, has proven its merits. Berton selling out this swiftly is a pronounced testament not only to the market resurgence and Dubai being an ideal real estate investment destination, but also to the improvements that we’ve brought about internally and to our build quality. We now assign an even greater importance to our customers’ interests by listening to them closer, being more transparent, speeding up construction by working exclusively with the best contractors, having hired more talented, qualified staff, and enhancing the quality of our developments via better materials that we now source ourselves.”
The 245-unit complex, which consists of 190 studio apartments, 41 one and two-bedroom apartments and 16 opulent penthouses, is expected to be finished by the end of this year, in line with Azizi Developments’ commitment to on-time, quality delivery.
Berton blends masterful craftsmanship and interior artistry with gracefully furnished homes, featuring high-end parquet flooring, state-of-the-art décor and generous space. The property offers customers the opportunity to live in one of the most up-and-coming locations in the emirate, situated near Sheikh Mohammed Bin Zayed Road, Sheikh Zayed Road, and the main metro line. Berton is impressively well-connected to many of Dubai’s points of interest through its proximity to the trade corridor around Jebel Ali Port and Al Maktoum International Airport.
Azizi Developments recently launched Rêve, its 24-building, ultra-luxury phase in its Riviera project, and delivered 7 buildings in the first phase of Riviera, as well as the 634-unit Creek Views I project in Dubai Healthcare City. The developer is now gearing up for the remainder of its 2022 deliveries, which in total amount to 8,895 units across 42 projects.