Russian investors favouring the UAE’s safety and stability make up the largest buyer group
Azizi Developments, a leading private developer in the UAE, has sold upward of 40% of its Beach Oasis development in Dubai Studio City to 35 different nationalities. Beach Oasis is a vibrant, mixed-use community consisting of two buildings that will feature 476 studio apartments, 200 one- and 36 two-bedroom homes, and several retail units.
Russian investors have snapped up most the units at Beach Oasis, with them representing 24% of the sales, followed by investors from the GCC who make up another 21%. The nationality breakdown also conveys a noteworthy demand from European and UK investors, as well as from buyers from Canada.
Azizi has also noted an increase in demand from residents choosing to own rather than rent properties, with monthly mortgage payments being lower than rental payments, and there being an extremely promising outlook for significant capital appreciation in the UAE.
In his comments on the rapid sales at Beach Oasis, Mr Farhad Azizi, CEO of Azizi Developments, said: “Dubai is a microcosm of the world, which is why our projects cater to so many nationalities, furthered by our roadshows, fly-in programmes, and other extensive international marketing efforts. Founded in our commitment to transparency, customer centricity, and the offering of some of the highest quality, world-class properties tailored directly to market needs and wants, our sales framework has proven its worth. This rapid sales at Beach Oasis are undoubtedly a reflection of this still being a buyer’s market, yet one that is at the cusp of a pronounced surge, as well as of Dubai’s attractiveness as an investment destination. Moreover, it is also a testament to the quality of our offerings.
As a result of our attentiveness to customers, increased transparency, and speedy construction by exclusively working with the best contractors; hiring more talented, qualified staff; and sourcing higher quality materials ourselves; we are now placing an even greater emphasis on customer interests than ever before – efforts that buyers are noticing, and that are paying off”.
Located just outside of the city and offering easy access to the emirate’s many points of interest, Dubai Studio City is one of the fastest-growing business hubs for film and television production and a trendy hotspot for young, creative professionals.
Built for modern, young adults, Beach Oasis is located in one of the most vibrant and youthful areas of the emirate, adjacent to Dubai Sports City and Motor City. A modern low-rise residential community, Beach Oasis comprises an outstanding array of amenities, including a beach-like swimming pool – the highlight of the project’s central courtyard —fully equipped gymnasiums, landscaped gardens, children’s play areas and a pristine central courtyard featuring a number of retail options for the convenience of its residents.
Just a short drive from the Expo site, and with it being situated on Hessa Street in proximity to Sheikh Mohammed Bin Zayed Road, Studio City offers a strategic location and excellent accessibility. Residents will benefit from a wide range of nearby amenities, including schools and colleges, medical facilities, sports and leisure attractions, and much more. Major attractions in proximity include Dubai Autodrome, the Els Club, Dubai Polo & Equestrian Club, Dubai International Stadium, Football Academy Dubai, Sports Park, ICC Academy and Miracle Garden.
Azizi Developments recently launched Rêve, part of its 24-building, ultra-luxury phase in its Riviera project, and has delivered 7 buildings in the first phase of Riviera, as well as the 634-unit Creek Views I project in Dubai Healthcare City.