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North Africa and key coastal markets will be an area of focus for the company in the near term for the Dubai company that is now present in 65 markets
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Azizi Developments' Azizi Grand reaches 35% construction milestone
Dubai, UAE: Azizi Developments, a leading private developer in the UAE, has announced that construction at Azizi Grand in Dubai Sports City is now 35% complete. The 431-unit project is on track for its handover in Q1 2026, with steady progress being made across all major areas. The building's structure is 88% complete, while blockwork has reached 51%, internal plaster 43%, and tiling, façade installation, and elevator fittings are advancing in parallel. HVAC and MEP works stand at 19% and 16% respectively. The swimming pool is also taking shape, currently at 7% completion. With over 720 workers now deployed on-site to accelerate development, overall finishes are at 18%. Azizi Grand will comprise 431 spacious homes with a mix of studios, one-bedroom apartments and two-bedroom residences, as well as a fully equipped state-of-the-art gymnasium, two swimming pools, children's play areas, BBQ areas, and landscaped gardens, among a wide range of other health and convenience focused amenities. Mr. Farhad Azizi, Group CEO of the Azizi group of companies, said: 'We are pleased to see construction at Azizi Grand moving ahead steadily, with key milestones already completed across the core build stages. With its strategic location in Dubai Sports City and its emphasis on wellness-focused living, this development is shaping up to become a key residential landmark. We look forward to welcoming our valued investors and residents to their new homes in due course." Azizi Grand offers residents the best of luxury and sports, with a focus on modern, healthy, and sustainable living. With open, customizable layouts, spacious balconies that stretch across the entire lengths of the apartments overlooking the vast greenery surrounding the building, built-in shelving and cabinetry for tasteful storage in the bathrooms, built-in wardrobes and vanity units in the bedrooms, soft modern lighting, exquisite tiling, framed floor-to-ceiling double-glazed windows with breath-taking views, customizable open-plan kitchens with premium cabinets and appliances, and much more, Azizi Grand offers those who will reside in it truly unique and prestigious homes with an upscale living experience. Strategically located on Al Fay Road, Azizi Grand, a unique development within the popular Dubai Sports City, is at the heart of the action, yet remains at a comfortable distance from the daily grind of the city. Nestled among schools, sports academies, equestrian clubs, golf clubs, stadiums, and lush greenery, Azizi Grand is situated just minutes from Al Khail Road and Mohammed bin Zayed Road, making it one of the most accessible and strategically located areas in the emirate. Strategically located in Dubai Sports City, Azizi Grand is in close proximity to Motor City, the Dubai Autodrome, and Jumeirah Golf Estates, and just a short drive from Dubai Studio City, Dubai Marina, Bluewaters, the Expo site, and Al Maktoum International Airport — offering residents seamless connectivity to many of Dubai's key lifestyle and leisure destinations. Azizi Developments' Sales Gallery can be visited on the 13th floor of the Conrad Hotel on Sheikh Zayed Road. About Azizi Developments Azizi Developments is a leading developer based in Dubai, UAE. With more than 40,000 homes successfully delivered to local and international investors and end users of over 100 nationalities, the developer prides itself on its extensive portfolio of modern luxury developments across Dubai's most sought-after residential and commercial destinations, its construction-driven approach, and its commitment to transparency and customer centricity. Azizi's residential and commercial properties are investor friendly, catering to all lifestyles. The developer makes it its international mission to develop lifestyles and enrich the lives of its residents with a focus on catalyzing the vision and development of the markets that it operates in. Azizi currently has around 150,000 units under construction, valued at several tens of billions of US dollars. The company is renowned for developing the world's second tallest skyscraper and an AED 2.5 billion opera, which is its gift to the city, as part of its cultural district at Azizi Venice. Azizi has a strong track record and sizeable project pipeline through its extensive land bank and strategic partnerships with Dubai's key master developers and is instrumental in developing world-class properties in MBR City, Palm Jumeirah, Sheikh Zayed Road, Dubai Healthcare City, Dubai South, Dubailand, Al Furjan, Studio City, Sports City and Downtown Jebel Ali. About Azizi Developments Azizi Developments is a leading developer based in Dubai, UAE. With more than 40,000 homes successfully delivered to local and international investors and end users of over 100 nationalities, the developer prides itself on its extensive portfolio of modern luxury developments across Dubai's most sought-after residential and commercial destinations, its construction-driven approach, and its commitment to transparency and customer centricity. Azizi's residential and commercial properties are investor friendly, catering to all lifestyles. The developer makes it its international mission to develop lifestyles and enrich the lives of its residents with a focus on catalyzing the vision and development of the markets that it operates in. Azizi currently has around 150,000 units under construction, valued at several tens of billions of US dollars. The company is renowned for developing the world's second tallest skyscraper and an AED 2.5 billion opera, which is its gift to the city, as part of its cultural district at Azizi Venice. Azizi has a strong track record and sizeable project pipeline through its extensive land bank and strategic partnerships with Dubai's key master developers and is instrumental in developing world-class properties in MBR City, Palm Jumeirah, Sheikh Zayed Road, Dubai Healthcare City, Dubai South, City of Arabia, Al Furjan, Studio City, Sports City and Downtown Jebel Ali.
Zawya
8 minutes ago
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PCCW Global, Sparkle, Telecom Egypt and ZOI to construct AAE-2 subsea cable linking Asia, Africa and Europe
In a landmark move to advance global connectivity, a consortium of four powerful subsea cable operators, namely PCCW Global, Sparkle, Telecom Egypt, and Zain Omantel International (ZOI) have signed a Memorandum of Understanding (MoU) to collaborate on the construction of the Asia-Africa-Europe-2 (AAE-2) subsea cable system. The project aims to establish a robust next-generation subsea digital link connecting Hong Kong and Singapore to Italy traversing secure and high-capacity terrestrial corridors across Thailand, the Arabian Peninsula, and Egypt. It is planned to strategically deliver unprecedented capacity and foster seamless, reliable connectivity across the three continents. AAE-2 will also feature strategic extensions to additional key destinations across its route, further enhancing intercontinental connectivity and supporting the growing demands of cloud services, content delivery, and digital transformation initiatives across the regions. This ambitious initiative is designed to revolutionize global connectivity by delivering a geographical diverse, resilient, and high-performance route for international traffic. By integrating both subsea and terrestrial infrastructure, AAE-2 will create a future-proof data highway between Asia, Africa and Europe. Building on the legacy of the AAE-1 cable, AAE-2 will incorporate the most advanced technological innovations offering unprecedented bandwidth capacity to serve the tremendous traffic needs and empowering communities and businesses across Asia, Africa and Europe. The project is spearheaded by industry leaders PCCW Global, Sparkle, Telecom Egypt and ZOI, combining expertise and resources to deliver a world-class infrastructure. This groundbreaking project marks a vital step in addressing the increasing demand for robust internet infrastructure, facilitating faster data transfer and improved connectivity across multiple regions. The consortium is dedicated to ensuring the successful delivery of this transformative infrastructure project, which will play a crucial role in shaping the future of global connectivity. Sohail Qadir, Chief Executive Officer of ZOI, commented: "This collaboration marks a defining milestone for ZOI and the region we proudly serve. As the international gateway for the Middle East, we are uniquely positioned at the crossroads of Asia, Africa and Europe, making us a strategic enabler of next-generation connectivity. AAE-2 reflects our long-term vision to connect continents and digital ecosystems through resilient and state-of-the-art infrastructure. Our cooperation brings together advanced infrastructure, diverse terrestrial routes and AI-ready capacity. AAE-2 will strengthen global traffic flows, empower emerging markets and unlock new avenues for economic growth across the region and beyond.' Frederick Chui, Chief Executive Officer of PCCW Global, commented: 'PCCW Global is proud to contribute to the AAE-2 initiative, building on our legacy of supporting vital global infrastructure. Following our instrumental role in the success of the AAE-1 system, we are pleased to bring our expertise to AAE-2, an advanced, high-capacity and geographically diverse subsea cable system connecting Asia and Europe. This next-generation network underscores our continued commitment to delivering resilient, secure and scalable connectivity for key markets such as Hong Kong, empowering the digital growth of tomorrow.' Enrico Bagnasco, Chief Executive Officer of Sparkle, commented: 'The AAE-2 cable system is an innovative project perfectly in line with Sparkle's long-term strategy to strengthen the Asia-Africa-Europe corridor by enhancing route diversity and ensuring the highest levels of network resilience. In recent years, we have invested in new submarine systems and established advanced landing hubs along this strategic route, reinforcing our commitment to reliable global connectivity. Among the key initiatives, the Blue & Raman submarine cable systems- linking Italy to India through an innovative path - together with the strengthening of the Sicily Hub in Palermo and the hub in Chania as well as the creation of a brand new scalable landing platform in Genoa. With AAE-2, we are taking a further step forward, contributing to the creation of a distinctive infrastructure that combines terrestrial and subsea solutions to deliver secure, high-capacity, and low-latency connectivity in support of the digital transformation of businesses and communities worldwide" Mohamed Nasr, Managing Director and Chief Executive Officer of Telecom Egypt, commented: "Over the years, we have made major investments and established partnerships to develop our cutting-edge subsea cable infrastructure, that we are witnessing today. The construction of AAE-2 cable system is a continuation of our success stories as a global data connectivity provider and is another testament to our commitment to driving digital connections through major collaborations. AAE-2 will also benefit from accessing and cross-connecting with the other subsea cables using our WeConnect ecosystem. We are thrilled to be embarking with PCCW Global, Sparkle and ZOI on this transformative project that will reshape the future of digital infrastructure." About PCCW Global PCCW Global is a leading digital infrastructure provider, empowering businesses with agile, scalable and secure connectivity solutions. By combining a best-in-class network with our award-winning on-demand platform Console Connect, we help businesses navigate the network complexities of the digital world with ease. With extensive reach across international markets, we make it simple to connect and move data between clouds, apps, data centres and devices. At the core of our business is a belief that automated, high-performance network infrastructure has the power to elevate business and society. About Sparkle Sparkle is TIM Group's Global Operator, first international service provider in Italy and among the top worldwide, offering a full range of infrastructure and global connectivity services – capacity, IP, SD-WAN, colocation, IoT connectivity, roaming and voice - to national and international Carriers, OTTs, ISPs, Media/Content Providers, and multinational enterprises. A major player in the submarine cable industry, Sparkle owns and manages a network of more than 600,000 km of fiber spanning from Europe to Africa and the Middle East, the Americas and Asia. Its sales force is active worldwide and distributed over 32 countries. About Telecom Egypt Telecom Egypt is a total telecom operator in Egypt, providing a wide array of telecom services to a diverse customer base. Serving individuals, communities, SOHOs, SMEs and large enterprises, Telecom Egypt offers a comprehensive, innovative, and diversified portfolio of services, ranging from fixed and mobile voice to essential data solutions that are crucial in today's digital landscape. These services also include high-speed internet, smart solutions, data center facilities, and cloud computing solutions tailored for businesses. With a rich heritage of about 170 years, Telecom Egypt continues to lead the Egyptian telecom market by providing cutting-edge technology, robust infrastructure, and an extensive network of subsea cables to meet the needs of its enterprise and consumer clientele. The company's pivotal role in Egypt's telecommunications landscape is underscored by its expansive network coverage, broad service range, and dedication to fostering innovation. Aside from its mobile operation "WE", Telecom Egypt holds a significant 45% ownership stake in Vodafone Egypt. Telecom Egypt's shares and GDRs (Ticker: are traded on the Egyptian Exchange and the London Stock Exchange. About Zain Omantel International (ZOI) Zain Omantel International (ZOI) is the Middle East's premier wholesale powerhouse serving regional operators, international carriers, global hyperscalers and cloud providers seeking services within the region and beyond. The first-of-its-kind joint venture signifies a substantial advancement in the telecommunications industry and is poised to become a global powerhouse due to Zain's extensive regional presence and success in the retail and digital arenas, combined with Omantel's exceptional wholesale capabilities and comprehensive international subsea and terrestrial networks. ZOI manages all international wholesale requirements of Zain and Omantel operations in eight countries, serving over 50 million customers.
Zawya
8 minutes ago
- Zawya
Mideast Stocks: Middle Eastern stocks lower on geopolitics
Stock markets in the Middle East ended lower on Thursday with uncertainty looming after the U.S. decided to relocate personnel from the region ahead of nuclear talks with Iran. U.S. President Donald Trump said on Wednesday U.S. personnel were being moved out of the Middle East because "it could be a dangerous place", adding that the United States would not allow Iran to have a nuclear weapon. Saudi Arabia's benchmark index declined 1.5%, dragged down by a 1.2% fall in Al Rajhi Bank and a 3.3% decrease in Saudi Arabian Mining Company. The Saudi bourse retreated, erasing all recent recovery gains and pushing the index back towards early June levels. All sectors posted negative performances, indicating a pervasive risk-off sentiment during today's session, said Milad Azar, market analyst at XTB MENA. "While solid fundamentals offer a hopeful outlook, the market's reaction was more heavily influenced by geopolitical tensions," Azar said. "However, this impact may be temporary, and the market could reverse course." Dubai's main share index slid 2.3%, its biggest intraday fall in two months, with blue-chip developer Emaar Properties dropping 3.4%. In Abu Dhabi, the index finished 1.1% higher. The decision by the U.S. to evacuate personnel comes at a volatile moment in the region. Trump's efforts to reach a nuclear deal with Iran appear to be deadlocked and U.S. intelligence indicates that Israel has been making preparations for a strike against Iran's nuclear facilities. Iranian Defence Minister Aziz Nasirzadeh said on Wednesday that if Iran was subjected to strikes it would retaliate by hitting U.S. bases in the region. The Qatari index lost 0.8%, as almost all its constituents were in negative territory including petrochemical maker Industries Qatar, which was down 1.4%. Egypt's blue-chip index was down 1.3%. SAUDI ARABIA fell 1.5% to 10,841 Abu Dhabi lost 2.3% to 5,467 Dubai down 1.1% to 9,694 QATAR dropped 0.8% to 10,627 EGYPT down 1.3% to 32,512 BAHRAIN eased 0.2% to 1,918 OMAN down 1.1% to 4,543 KUWAIT slid 1.4% to 8,918 (Reporting by Ateeq Shariff in Bengaluru, editing by Ed Osmond)
