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UAE's Azizi Developments Plan to Rent Properties

Infra News - Published on Thu, 12 Sep 2019

Image Source: constructionweekonline
Construction Week Online, citing UAE real estate developer Azizi Developments, reported that a comprehensive study it implemented found that the majority of its buyers 68.5% plan to purchase a property with the intenton of renting it out, with studio apartments remaining the most popular form of investment for the Mirwais Azizi-chaired Azizi Developments' buyers, comprising 65% of all its sales. One-, two- and three-bedroom apartments respectively make up 25%, 7%, and 3% of Azizi Developments' sales, which are influenced by factors such as location and unit price.

Mr Farhad Azizi, Azizi Developments' chief executive officer, said that “Big data, with its ability to generate precise insights with profound applications, is a technological facilitator that is set to play an important role in our sector in the coming years. It adds a much-needed, customer-centric dimension to real estate and helps us in setting our strategy in a way that adds monumental value to the UAE property sector and economy.”

Azizi Developments had revealed late in August 2019 that Emiratis made up 52% of its customers, followed by Saudi Arabians (25%), Indians (10%), and Pakistanis (4%).

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Posted By : Ratan Singh on Thu, 12 Sep 2019
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