With 40,000 units under construction for delivery by 2027, and plans underway to launch 50 high-end hotels in Dubai over the next five years, Azizi Developments’ CEO Farhad Azizi is taking the company to new heights – quite literally, given one of the projects will be the world’s second-tallest skyscraper.
And while this success is certainly down to his strong work ethic and willingness to adapt to evolving trends, Farhad is keen to emphasise that his father’s guidance has played a key role in his professional development.
Speaking with Villa 88 Man, Farhad says, “Growing up, I witnessed my father’s journey of building our company from scratch. His determination and resilience inspired me to continue his legacy, expand upon it, and carve out my own path in the real estate sector. Through his journey, I learned the skills to navigate challenges and not to allow the fear of trying to hold me back: failure is simply a stepping stone to success.”
His father, Mirwais, started the company in Afghanistan in 1989 with just $500. Since then, it has expanded to include Azizi Bank, Azizi Investments and Azizi Developments, and recently, it has ventured into hospitality. The move to Dubai was originally meant to be merely a stopover, but the hospitality of the Emirates, and the country’s fertile business environment, made the relocation permanent.
“My father felt deeply appreciative of the countless blessings that life in Dubai graciously bestows. From unparalleled security to top-tier healthcare and education to the transparent, equitable business environment, these are gifts that one can only truly value in their absence,” shares Farhad. “Moreover, the forward-thinking leadership of Dubai, guided by the visionary perspective of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai, motivates us to contribute to this city’s remarkable ascent to global prominence.”
According to Farhad, a number of factors have made Dubai such an attractive place to build a business, including its robust regulatory and legal framework, the absence of property taxes, along with the decisive actions of its leadership. Indeed, with the introduction of long-term residency and Golden visa programmes, many more businesses will no doubt follow in Azizi Group’s footsteps.
Speaking of the group’s foray into hospitality, Farhad notes, “Dubai stands out as the most welcoming, hospitable, and exciting city to visit, boasting more marvels than any other place worldwide. So, it serves as the perfect launchpad for our venture.”
“As a family rooted in Dubai, we aspire to play an active role in its growth and development, further cementing its status as the world’s premier tourist destination,” he adds.
Last year, Azizi Developments unveiled one of its flagship projects, Azizi Venice. The Venetian-inspired waterfront development, located in Dubai South’s Golf District, is centred around a swimmable crystal-blue water lagoon. The mixed-use plot will feature over 30,000 residential units, a full-service hospital, a nursery and schools, as well as two Azizi-owned and -operated five-star hotels at the entrances of the community, with a smaller boutique hotel on an island in the middle of the lagoon.
Keen to show their deep appreciation for the city they have called home for more than 30 years, work is also well underway on the world’s second-tallest tower. Currently, unnamed, the property opposite the World Trade Centre on Sheikh Zayed Road will house 700 residential units as well as 200 to 300 hotel suites. The project is currently slated to be completed in 2027.
“This tower will stand as our legacy,” says Farhad. “Dubai, our family’s cherished home, has provided us safety and abundant opportunities. Building this second-tallest tower is our gesture of gratitude to this Emirate and its remarkably hospitable and welcoming people.”
Azizi Group also shows its thanks through philanthropic efforts, having recently announced a Dhs600 million donation to the newly established Mother’s Endowment under the Mohammed bin Rashid Al Maktoum Global Initiatives (MBRGI). It also made a Dhs100 million contribution to the 1 Billion Meals initiative to combat world hunger and malnutrition, and is involved in various other charity projects in their home country, including the construction of a cancer centre, a hospital, a dialysis centre, and the largest orphanage in Afghanistan. It also provides students scholarships as well as food and necessity parcels across the nation.
Farhad takes deep pride in his work, not only in driving forward the vision of Azizi Developments, but also in the impact his business has on the futures of their customers who have chosen to invest with them. Going forward, the company will build on their success by taking their hospitality brand global, with plans to acquire plots in cities such as Singapore, Hong Kong, Frankfurt, London and Paris. But, Farhad says, Dubai will “forever remain our home”. He adds, “The UAE remains the most compelling investment destination, with its unmatched merits and sustained international demand.”
Visit azizidevelopments.com and follow @AziziGroup on Instagram.
