DUBAI (The Thursday Times) — Dubai-based Azizi Developments has officially announced that its upcoming skyscraper, Burj Azizi, will stand at an impressive 725 metres, surpassing Kuala Lumpur’s Merdeka 118 to become the world’s second-tallest building. This $1.63 billion (Dh6 billion) project solidifies Dubai’s status as home to both the tallest and second-tallest skyscrapers, with the Burj Khalifa still reigning at 828 metres.
A prime location and construction timeline
Located along Sheikh Zayed Road in the Dubai World Trade Centre area, construction of the Burj Azizi began earlier this year, with the expected completion date set for 2028. Founder and chairman of Azizi Developments, Mirwais Azizi, stated that the project signifies the growing maturity of Dubai’s real estate market and its world-class engineering capabilities. “This development showcases Dubai’s economic vitality and its dedication to setting global real estate standards,” Azizi said in a recent interview.
The Burj Azizi’s world-record features
The Burj Azizi will include a seven-star hotel, similar to the iconic Burj Al Arab, and will set multiple world records, including the highest hotel lobby on the 11th floor, the highest nightclub on level 126, and the highest observation deck on level 130. Additionally, it will feature Dubai’s highest hotel room and restaurant, located on levels 118 and 122, respectively.
Dubai’s booming property market
Dubai’s luxury property market, as well as that of the broader UAE, has been flourishing thanks to economic diversification and innovative residency programmes, such as retirement visas and permits for remote workers. The expansion of the 10-year golden visa programme has fuelled investor interest, particularly in high-end luxury real estate. In 2023, Dubai’s luxury market saw record growth, with sales of homes worth over $10 million nearly doubling to $7.6 billion, surpassing cities like London and New York, according to a report by Knight Frank.
High-end property hotspots
In the first five months of 2024, Dubai recorded 948 sales of properties valued at Dh15 million or more, with high-end transactions concentrated in areas like Palm Jumeirah, Dubai Water Canal, Mohammed bin Rashid City, Tilal Al Ghaf, and Dubai Hills Estate, as reported by Betterhomes.
Expanding luxury offerings
Dubai’s luxury real estate market continues to expand, with the $1 billion Marasi Marina project by Sankari Properties, featuring units starting at $10 million, set to be completed by 2027. Once completed, Burj Azizi will join the ranks of the Middle East’s tallest buildings, including the Burj Khalifa and Makkah Royal Clock Tower in Saudi Arabia, cementing Dubai’s position among the world’s top five tallest skyscrapers.
Other notable skyscrapers in the region include Dubai’s Burj Binghatti Jacob & Co Residences and Six Senses Residences, as well as Kuwait’s Burj Mubarak Al Kabir. Meanwhile, Saudi Arabia’s Jeddah Tower is expected to surpass all others, eventually becoming the world’s tallest building at approximately 1 kilometre in height.
A visionary landmark for Dubai
Commenting on the significance of the Burj Azizi, Mirwais Azizi stated, “The rapid pace of development across the GCC, particularly in the UAE, reflects a forward-thinking vision for the region. The Burj Azizi will celebrate Dubai’s spirit, embodying the world’s seven major cultures through its intricate interior design.”
Leading Dubai’s real-estate growth
Azizi Developments has approximately 40,000 units under construction, valued at several billion dollars, with deliveries expected by 2027. The company has a strong presence in Dubai, with developments in prime locations such as Palm Jumeirah, Sheikh Zayed Road, Mohammed bin Rashid City, Dubai South, Dubai Healthcare City, Al Furjan, and Studio City.
