UAE real estate sector undergoes transformation with cross-border payments revolution
Traditionally, the process of investing in UAE real estate from overseas has been encumbered by complexities and inefficiencies associated with cross-border transactions.
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Leading financial institutions are spearheading a transformative wave in the UAE real estate sector through the introduction of seamless cross-border payments. This strategic initiative is poised to enhance accessibility and efficiency for global investors seeking to engage in property investment within the UAE.
Traditionally, the process of investing in UAE real estate from overseas has been encumbered by complexities and inefficiencies associated with cross-border transactions. However, with the advent of cutting-edge cross-border payment solutions provided by prominent financial institutions, these barriers are rapidly diminishing.
By streamlining the payment process and mitigating hurdles related to currency conversion and international transfers, these innovative financial solutions are empowering investors with unprecedented ease and convenience. As a result, the UAE real estate market is witnessing a surge in global interest and participation.
“We are witnessing a significant shift in the landscape of UAE real estate investment, as the sector undergoes transformation with the Cross-Border Payments Revolution. This transformative trend reflects our commitment to facilitating seamless transactions, thereby reshaping the way investors engage with the market and opening up new opportunities for international stakeholders.” stated Soliman Hossameldin, Director of Digital Marketing at D&B Properties. ”
The impact of this cross-border payments revolution extends beyond mere transactional efficiency. It is fostering greater collaboration and connectivity between global investors and the UAE real estate market, catalyzing growth and development on both fronts.
This transformation underscores the UAE’s position as a leading global investment destination and underscores the country’s commitment to fostering a conducive environment for international investors.
Chris Dixon, a partner who led the charge, says he has a ‘very long-term horizon’
Americans now think they need at least $1.25 million for retirement, a 20% increase from a year ago, according to a survey by Northwestern Mutual
This collaboration will extend into the fourth phase of Azizi’s Riviera project in MBR City, with Cummins supplying top-tier power generators.
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Azizi Developments, a prominent private developer in the UAE, and Cummins Inc., a global leader in power solutions design, manufacturing, distribution, and supply, are extending their partnership into the fourth phase of the large-scale Riviera project. Cummins, known for its diverse range of products including diesel, natural gas, electric, and hybrid powertrains, as well as powertrain-related components, like filtration, after-treatment, turbochargers, fuel systems, control systems, air handling systems, automated transmissions, electric power generation systems, batteries, hydrogen generation, and fuel cell products. The manufacturer is globally renowned for its excellence in both innovation and sustainability.
Mr. Farhad Azizi, CEO of Azizi Developments, said: “As we continue our collaboration with Cummins Inc. for the fourth phase of our flagship project, Riviera, we reaffirm our commitment to procuring and utilizing only the highest quality materials. This partnership highlights our dedication to providing exceptional lifestyles for our investors and end-users through the careful selection of premium components. We are confident that our now-broadened alliance with Cummins Inc. will help in maintaining the high standards established for Riviera and further elevate the benchmarks of quality and excellence.”
Riviera is part of Azizi Developments’ award-winning portfolio. It is a stylish waterfront lifestyle destination that comprises 75 mid- and high-rise buildings with approximately 16,000 residences.
Designed to introduce the French-Mediterranean lifestyle to Dubai, which is not merely about architectural art, but also about a certain ‘joie de vivre’ — a celebration of life, an exultation of spirit, Riviera represents a new landmark destination that is both residential and commercial, with an abundance of retail space. Riviera features three districts: an extensive retail boulevard, a lagoon walk on the shores of its 2.7 km-long swimmable crystal lagoon with artisan eateries and boutiques, and Les Jardins — a vast, lush-green social space.
With its strategic location near the upcoming Meydan One Mall and the Meydan Racecourse — home of the Dubai World Cup — as well as Dubai’s most noteworthy points of interest, Riviera represents one of Azizi Developments’ most coveted projects.
Azizi Developments’ Sales Gallery can be visited on the 13th floor of the Conrad Hotel on Sheikh Zayed Road.
Chris Dixon, a partner who led the charge, says he has a ‘very long-term horizon’
Americans now think they need at least $1.25 million for retirement, a 20% increase from a year ago, according to a survey by Northwestern Mutual
