bizzybonita
September 29th, 2008, 04:45 AM
Bids for Azizi towers expected in November
Azizi Investments has unveiled plans to build five mixed-use towers worth more than US $1 billion (AED3.67 billion) on Dubai’s Palm Jebel Ali.
The company's chairman Merwiss Azizi told Construction Week that it would invite all major construction companies in the region to submit bids for the project in November and construction on the first of the towers was expected to begin mid December.
"The construction cost for each tower will be around $109 million," Azizi said.
"The total project cost will be around $204 million per tower."
"The total build up area for all five towers will be around 137,000m2 and total construction area is over 280,000m2."
The first tower, the Azizi Fontanne, will be 16 stories of high-end residential apartments located on crescent A of the Palm Jebel Ali.
Azizi said the properties will range from 80m2 one bedroom luxury apartments to 280m2 penthouses featuring swimming pools, saunas and steam rooms.
Three other mixed-use towers, the Azizi Diamond, Azizi Crystal and Azizi Plantine will also be built on crescent A, while the fourth tower, the Azizi Onyx, will be build on crescent E.
The company plans to reveal details of the other four towers at Cityscape Dubai next month.
Since opening for business in February this year Aziz Investments has made an aggressive step into the property market.
"Over the next few months the company expects to reach its 2008 target of acquiring 140 million m2 of land for 50 proposed projects."
Azizi Investments has unveiled plans to build five mixed-use towers worth more than US $1 billion (AED3.67 billion) on Dubai’s Palm Jebel Ali.
The company's chairman Merwiss Azizi told Construction Week that it would invite all major construction companies in the region to submit bids for the project in November and construction on the first of the towers was expected to begin mid December.
"The construction cost for each tower will be around $109 million," Azizi said.
"The total project cost will be around $204 million per tower."
"The total build up area for all five towers will be around 137,000m2 and total construction area is over 280,000m2."
The first tower, the Azizi Fontanne, will be 16 stories of high-end residential apartments located on crescent A of the Palm Jebel Ali.
Azizi said the properties will range from 80m2 one bedroom luxury apartments to 280m2 penthouses featuring swimming pools, saunas and steam rooms.
Three other mixed-use towers, the Azizi Diamond, Azizi Crystal and Azizi Plantine will also be built on crescent A, while the fourth tower, the Azizi Onyx, will be build on crescent E.
The company plans to reveal details of the other four towers at Cityscape Dubai next month.
Since opening for business in February this year Aziz Investments has made an aggressive step into the property market.
"Over the next few months the company expects to reach its 2008 target of acquiring 140 million m2 of land for 50 proposed projects."