UAE developer says unit sales have returned to pre-pandemic levels

Like most developers, Azizi said it struggled to sell properties during the lockdown, but once it was lifted, the company began selling around five to six units a day.

Towards the end of 2020, the developer was then close to reaching its pre-pandemic levels, with daily sales of 10 to 12 units. Now, its sales volume has reached a healthy level, with approximately 12 to 15 units being sold per day, the company said in a statement.

Azizi added that it expects to exceed its pre-pandemic levels, projecting sales upward of 14 units per day in the coming months, largely due to the emirate’s prospects, including the hosting of Expo 2020 Dubai and a number of new initiatives aimed at boosting the local economy.

Azizi said over the past three months, 69 percent of unit sales were for Riviera in MBR City, 13 percent for its developments in Al Furjan, and 10 percent for its projects in Dubai Healthcare City. Another 7 percent were for Mina on Palm Jumeirah, and 1 percent for Avenue, its recently launched project in MBR City.

In terms of unit types, 32 percent of the developer’s sales comprise one-bedroom units, 27 percent were retail units, 19 percent were studios, 17 percent were two-bedroom apartments, and 5 percent were three-bedroom apartments.

Farhad Azizi (pictured above), CEO of Azizi Developments, said: “2020 was an unusual – and at times challenging – year for us all, but a strong rebound is what defines us and our resilience.”

“We’re tremendously proud of having reached our pre-pandemic sales volumes this month and look forward to surpassing these, while going above and beyond in ensuring our valued investor’s happiness.”

In 2020, Azizi said it raised over 300 storeys, poured over 239,000 cubic metres of concrete, constructed over 3.68 million sq ft of built-up area, and recorded more than 17.6 million man-hours and is set to complete over 10,000 units this year.