Dubai-based Azizi Developments has confirmed that the first two phases its Dhs12bn Azizi Riviera project in Meydan One are on track for completion in Q1 2019 – slightly later than previously planned.
The foundations for phase 1 and 2 are 85 per cent complete and basement works have commenced.
The construction is expected to rise above ground soon, a statement said.
The first two phases were previously slated for completion in December 2018.
The waterfront project, located on the banks of the Dubai Canal, is being developed by KCC Engineering and Construction and Actco General Constructing.
Azizi Riviera includes 69 mid-rise buildings, comprising 16,000 units of studio, one-bedroom, and two-bedroom apartments, and two hotels.
Designed to resemble the French Riviera waterfront lifestyle, the development will also feature a mega integrated retail district which will consist of high street bridge brands, leisure and entertainment options.
It will also offer access to long paved pedestrian paths and water transport, yachting facilities and a proposed marina, among other attractions.
Mirwais Azizi, chairman of Azizi Group, said: “The project is developing rapidly, as we had planned, and we are aiming to deliver Azizi Riviera ahead of schedule.
“We have had tremendous response from off-plan buyers who are all eager to gain possession of their new dream homes – and we want to ensure we are able to hand over all units at the earliest.”
Azizi Riviera is the first in a series of projects that Azizi is planning to develop in the Meydan One mega-development, following a partnership with Meydan Group last year.
The wider Meydan One development will feature the 711 metres-tall Dubai One Tower, Meydan One Mall, a five-star hotel, a civic plaza with dancing water fountains, an indoor sports facility, a 4km canal and a marina.
It is expected to house more than 83,000 residents when complete.
Work on the Meydan One Mall began in March last year, and when ready, it will have the world’s longest indoor ski slope, a 131,150 sq ft hypermarket and a retractable skylight roof. It will also host 620 retail shops, with two major department stores and regional firsts, 100 food and beverage outlets and a 21-screen cinema with a food court.