Local real estate company Azizi Developments has appointed Al-Kaitoob Building Contracting for several residential and hospitality projects in Dubai.

The contracts were awarded to Al-Kaitoob for three residential towers and one hotel in the Al-Furjan area in Dubai.

The first deal is for the $80m Montrell Service Residence, which will comprise 222 units and is expected to be completed by mid-2018.

The second contract is for the recently launched $80m Roy-Mediterranean Service Residence, which will have 271 units and will be delivered in 2017.

Al-Kaitoob was also appointed as the main contractor for the $74m Candace Acacia hotel tower and the $48m Candace Acacia hotel apartments.

Azizi Developments, which is a subsidiary of Azizi Investments, has been bullish about the UAE market, with other schemes planned and under way in Dubai, including a residential project in Dubai Healthcare City.

“There are currently 6.5 million square feet of real estate projects under construction in our portfolio at the moment,” says the company’s CEO, Farhad Azizi. “We are also expecting to start work on 4 million sq ft in the next year.”

Azizi tells MEED the company remains focused on mid-market residential schemes. “There is a gap in this segment of the market,” he says. ”We are involved in luxury projects, but we are also very interested in practical living solutions.”