Azizi launches $36.7mn Dubai development.

Azizi Developments has launched a $36.7mn (AED135mn) residential project in Al Furjan, Dubai.

Azizi.Iris Residence consists of 99 units made up of one- two- two+maid- and three+maid-bedroom apartments.

Asteco, one of the prominent real estate outfits, will handle the development, while S.S.LUTA is the official construction company.

Mohsen Kamel, CEO of Azizi, said: 'The announcing of Azizi.Iris Residence is another milestone achieved by the Azizi Developments to benefit one of the most important segments of society, the mid income families.

'Each single unit in Azizi.Iris Residence is a great opportunity for institutional investors as well as individuals with the aim of a long-term investment opportunity while having a real estate asset in Dubai's top residential destination of Al Farjan.'

Construction work has started and is scheduled to complete in December 2015.

constructionweekonline.com