Azizi Developments LLC set a new investment budget worth 9.1 billion United Arab Emirates dirhams for its developments across Dubai in 2018, the Arabian Business reported.

The paper cited CEO Farhad Azizi as saying that the company will develop new residential and community lifestyle projects.

In 2017, Azizi Developments launched two mega residential schemes in Dubai known as the Azizi Riviera canal waterfront project worth 12 billion dirhams and the Azizi Victoria in Mohammed Bin Rashid City District 7, which is twice the size of Azizi Riviera, the Dec. 19 report noted.

As of Dec. 19, US$1 was equivalent to 3.67 UAE dirhams.