Dubai: The Dubai South district is starting to attract super-luxury off plan residential property choices, with Azizi Developments launching mansions from Dh45 million and going up to an eye-catching Dh220 million.
So far, Dubai South has seen launches in the mid- to upper mid-priced range, with average prices in the Dh1 million to Dh3 million range.
Azizi clearly wants to buck the pricing trend and escalate. The ‘Monaco Mansions’ - with an estimated development cost of Dh3.5 billion - are part of its Venice Azizi mixed-use project at Dubai South. There will only be 109 of these residences, with the price per square foot set (psf) at Dh2,300-Dh5,000.
Azizi Venice will cost Dh20 billion to build.
“The ‘Monaco Mansions’ are now at next phase of the Venice masterplan.”
If Azizi’s bet on the super-premium pricing gains an investor following, Dubai South – or clusters of the sprawling master-development –can emerge as the next luxury residential location in the city. The previous one to see such a transition was Dubai Hills, where after the Dubai property boom started post-Covid instantly emerged as a high-end destination for standalone homes.
Dubai South spreads over 145 square kilometers and includes the Expo City environs and the massive Al Maktoum International Airport.
The development now hosts one of the widest price categories when it comes to off plan homes. Emaar recently launched the 'Terra Heights' at Expo City with apartments from Dh1.45 million.