Dubai developer Azizi Developments has said that its second project in Palm Jumeirah, Mina by Azizi, is on track for completion next year.
The Dhs780m project is expected to be ready by the last quarter of 2018, the developer said in a statement.
Designed to resemble the Arabic Dhow and the waves, Mina by Azizi covers a total area of 11,244 square metres, and features 178 fully-furnished and serviced residences, including one and two, three and four-bedroom apartments and penthouses.
The project also provides private beach access.
Farhad Azizi, CEO – Azizi Developments said: “Mina by Azizi was established to meet the growing demand for serviced residences specifically on Palm Jumeirah. Azizi Developments is focused on driving growth and capturing this niche segment.”
He added: “Investor confidence in the UAE is increasing and is reflected in the registration of 68 projects during the first half of 2017 valued at Dhs21bn.”
In August, Azizi announced the handover of its Dhs350m Royal Bay, another luxury residential property project on the Palm Jumeirah.
Royal Bay comprises 90 serviced apartments, including one, two, and three-bedroom penthouses.
Earlier this week, the developer also confirmed that its ninth project in Al Furjan, Azizi Montrell, is slated for completion early next year.
Azizi Montrell, a nine-storey high-end serviced apartment building includes 222 units, of which 168 are studio apartments and 54 are one bedroom apartments.
Azizi is also currently developing the Dhs12bn Azizi Riviera project in Meydan One, as well as other projects in Dubai Healthcare City, Studio City, Sports City and Jebel Ali.
Last month, the developer also announced plans to launch a new Dhs25bn mega project in Dubai.
Spread across a construction area of 33 million square feet in central Dubai, the project, whose name is yet to be announced, will have a “British feel”, a statement said.
The development will include residential, commercial and retail space, with 105 mid-rise and high-rise residential buildings consisting of 30,000 apartments.
Read more: Dubai developer Azizi launches Dhs25bn British-themed project