Azizi Developments is training its sights on Saudi Arabia and the United Kingdom for further expansion.
One of the leading private developers in the United Arab Emirates, the company is also looking into diversifying its business into facility management and brokerage services.
Farhad Azizi, chief executive of Azizi, noted in a recent interview that the company does not yet have a pipeline of projects in these countries.
He explained: “While we are also researching opportunities for projects in these markets (other emirates, neighbouring high-growth markets such as Saudi, and more mature markets such as London), with no specific projects in the pipeline yet, we are looking into launching presences and sales activities in other emirates, the Saudi Arabia, London and Nigeria.”
Azizi Developments, which has a BB- rating with a stable outlook by Fitch, expects its geographical expansion based on new projects or sales offices to complement this year’s drive for better profits.
“These could be either offices or other sales activities, depending on the market, local laws and regulations, and other considerations,” Azizi explained.
“Launching presences in these markets allows us to better establish our brand and to reach those seeking…