Al Furjan is the high-growth corridor of Dubai, with Azizi having sold over 82% of its units in the community
Azizi has set foot in Al Furjan with its philosophy of ‘customers first’ in mind. The developer has already completed 13 projects in Al Furjan, with Samia being the most recent to be inaugurated in January 2020, and has another four developments to be finalised in the highly sought-after neighborhood this year, as well as another 2 projects to be achieved in the coming years. Al Furjan has proven to give back tremendous returns to investors due to its strategic place and excellent connectivity.
84% of the inventory of Azizi’s Samia, 92% of Plaza, 76% of Shaista, and 88% of Star is now sold out, while all of the Farishta inventory has been sold prior to its delivery, as of early December 2019.
These incredible sales figures, which point out a strong demand for property in the area, are in line the present day Property Monitor data, which highlights an average residential sales price of AED 891 per square foot for apartment units in Al Furjan - higher than that of Jumeirah Golf Estates, Jumeirah Village Triangle, Jumeirah Lakes Towers, Dubai South and almost half of all other predominant residential locations in the emirate.
Property Monitor additionally states that with an average residential rental rate of AED 60 per square foot in Al Furjan, properties in the region yield investors greater than Damac Hills, Jumeirah Village Circle, Barsha Heights, Jumeirah Village Triangle, Discovery Gardens, and more than half of other main residential communities. This is just AED 7 per square foot less than JBR, AED 9 less than Business Bay and AED 17 less than City Walk. Rental prices in Al Furjan have multiplied by almost 1% in just a month, from December 2019 to January 2020.
Dubai Land Department figures additionally affirm that in the secondary market transfer category, Al Furjan has recorded some of the highest sales in the first month of 2020, more than half of all other main residential destinations. Moreover, DLD data also indicates that Al Furjan has recorded strong outcomes in the residential sales volume in the off-plan category, again surpassing more than half of Dubai’s residential areas, which includes La Mer, City Walk, Dubai Marina, Dubai South, and many others.
Elias Sami, Director of Marketing & Communications at Azizi Developments, said: “It always has been and always will be of the utmost importance for us to make sure that our products are differentiated via their enormously strategic and well-connected locations, the impact of which is felt by our valued home owners in terms of ROI and lifestyle. With rental yields in Al Furjan being on the rise, and the community hastily evolving into the perfect residential destination of Dubai, well suitable for families and young professionals alike, we are proud to make contributions to its development. The new Route 2020 metro line, direct highway access and the broad array of amusement and retail options, are just some of the elements that increase this remarkable, traction-gaining community. Being a data-drive organisation, our location options are usually based on substantial analysis, adding to the value we present to our customers.”
Al Furjan, now one of the most desirable addresses in the whole Dubai, is home to cutting-edge architecture that is cautiously blended with natural green spaces and well-though-out, modern infrastructure. New amenities, from small convenience stores and academic institutions such as Arbor school inside the community, all the way to IKEA in Festival Plaza, have opened. With its exquisite network of roads, including immediately connectivity to Sheikh Zayed Road and Sheikh Mohammed bin Zayed Road, Furjan provides convenient access to Dubai’s key factors of interest, such as Dubai Marina, Downtown Dubai, Dubai International Airport, Al Maktoum International Airport, and more. Moreover, Al Furjan’s direct connection to Al Asayel Street has currently been opened, granting residents near-instant access to other communities such as the Meadows, Springs and Al Barsha, all the way to Downtown Dubai. Al Furjan’s connectivity is complemented by it now being part of Route 2020, the metro route that links it to the Expo 2020 site and the emirate’s many leisure, business and retail hubs through Dubai Metro’s Red Line.