Azizi Developments has announced its entry into Dubai’s hospitality sector with the launch of Candace, its first serviced residences project.
The developer said in a statement that the AED460 million ($125.2 million) project will feature two towers called Candace Aster and Candace Acacia at Dubai’s upcoming Al Furjan community, where Azizi Developments is the biggest private firm with many projects at different stages of construction.
To be run and managed by Candace Hotel and Resorts, the high-end serviced residences will be delivered by third quarter of 2017. Construction work has already begun, the statement said.
It added that future projects worth AED1.8 billion are planned for Healthcare City, Palm Island and Al Furjan.
