Azizi Investments to become a power player in UAE

In accordance with their launch a few days ago, Azizi Investment has revealed their initial investment portfolio, which includes a massive 15 million square foot piece of property. At the same time, a South Korean contractor has entered the Dubai property market through the construction of The Cube.

Some very exciting announcements were made this week with regard to construction projects in Dubai. Azizi Investments is showing just how serious it is about becoming a power player in the UAE. Azizi announced a 15 million square feet development portfolio. The company will focus efforts on Nakheel's Al Furjan and Palm Jebel Ali developments, as well as at Emirates City. The current plan is impressive, as the company plans on developing among other properties, the only 5-star hotel in Emirates City.

That isn't all that the Dubai developer has planned, though. By 2010 the 15 million square foot portfolio is to be expanded to 165 million square feet. For a company that was only early this week announced, it has gained the spot light through print advertising and bill board campaigning. Ever aware of the need to cater to all types of investors, Azizi will offer a diverse set of investment opportunities. Not only will they offer high end luxury properties but also affordable properties for investors on a budget. The goal is of course, long term sustainable growth. Founder and Chairman of Azizi Investments, Merwiss Azizi, points out that the company's independent financing is the key to developing working relationships with Dubai's largest developers as well as UAE government.

The Sungwon Corporation also has good news this week. The corporation has recently won a US$82 million contract. German developer BMG Middle East Development has granted Sungwon the exclusive contract to build The Cube. This is of considerable importance to BMG as this project will mark their debut into developing in the UAE. The Cube is set to be a 26 story hotel apartment building. Sungwon has also won the contract to build the Silver Star Tower. This contract was granted by Trend Capital at Business Bay.