Dubai – Mubasher: Azizi Developments is considering investing in the hospitality market in a bid to expand on its current portfolio of hotel apartments it has already developed in Dubai, the UAE-based developer’s CEO said.
The company is ambitious to do something in the hospitality sector “in the future”, Farhad Azizi told Arabian Business.
“We’ll be looking in different areas, to build something from scratch or buy an existing property and turn it around, or keep the same operator,” Azizi added.
The UAE’s leading private developer already has a number of hotel apartments in its portfolio, including Royal Bay by Azizi on the Palm Jumeirah, Azizi Mina and Roy Mediterranean in Jebel Ali.
“With these hotel apartments, the concept was that we were not there to operate them. They were sold, just like other operators do that, like Damac,” Azizi commented.
