GREM investigates Azizi: Volume developer with many vulnerabilities

Azizi Developments is one of the largest private property developers in Dubai, founded in 2007 and active in the middle class segment. Although the company has delivered record numbers of homes since 2022, research by GREM shows that there are structural deficiencies in internal organization, customer relationships, build quality and resale value. These factors are relevant issues for investors seeking reliability and predictability.

Internal organization and staff structure

Azizi experienced accelerated growth in the period 2018—2020, with the workforce expanding faster than the internal structures could handle. At the time, executives themselves acknowledged that the organization had “grown too fast” (Arabian Business.com, 2019). Employee reviews show that departments often work side by side (“poor communication between departments”), which leads to delays between construction and sales. Until 2022, Azizi worked with external contractors, which caused friction in project execution. The company culture is described by employees as top-down and chaotic, with a high workload, long working days and a lack of appreciation. Terms such as “very unorganized”, “toxic” and “no respect for the employee” are reflected in public statements (Indeed, 2024). There is a high level of staff turnover. Insiders speak of a “hire-and-fire” structure, where employees are quickly recruited and fired if they fail to meet goals (Ambition Box, 2024). In May 2025, 13,000 construction workers quit work on two Azizi projects, following a rumored accident report (The National, 2025). Although this was not an official pay dispute, the massive turnout pointed to underlying tensions.

Customer relations and after-sales service

One of the interviewees, who also spoke out publicly on LinkedIn, said that Azizi was very proactive and easily accessible during the sales process. After the completion of the sale, however, this changed drastically: according to him, communication about delivery dates, property registration and additional costs was structurally absent, unless he repeatedly went after this himself. In his case, a physical visit to the head office was even required to obtain a simple status update (LinkedIn, 2024).

Overall customer satisfaction is below the market average. There's even a Facebook group called “Azizi Victims,” where buyers share negative experiences. Many complaints are about poor communication, delayed delivery and disappointment after the purchase.

After-sales service is formally available via email and the 800 Azizi number, but interviewed buyers often report standard responses or no response at all. In several cases, solutions only came about after publications. A common complaint is that customers are “ghosted” by their contact person after the last payment. A proactive program for after-sales assistance such as rental support or legal advice is also missing — in practice, the service stops upon completion.

Legal disputes and transparency

An interviewee, who later also shared his experience on the public forum Reddit, reported that his unit was purchased in 2016 with a promised delivery date in 2019, and was eventually completed in 2022. According to him, this is not an isolated case: conversations with other buyers show that delays of a few months to several years are the rule rather than the exception (Reddit, 2024).

In addition, buyers report hidden costs during or after the handover. Service costs are often higher than previously stated — for example, AED 25/ft² instead of AED 18/ft² in Azizi Riviera. Fines and additional administrative costs are also imposed without clear prior communication.

Azizi is legally very formal. Attorneys described the legal department as “actively defending” and slow in dealing with disputes. Buyers indicate that procedures can drag on for months to years, and that refunds or termination of contract upon delivery are rarely allowed.

The warranty period is 12 months from the completion of the building, not from the handover of the keys. As a result, buyers can effectively face a shorter warranty period if they deliver later (Azizi, 2024).

Another customer of Azizi interviewed reported that she had paid for her unit neatly in accordance with Azizi's official payment plan. Nevertheless, she repeatedly received letters falsely accusing her of default. Despite proof of payment, she was pressured to pay heavy fines and additional costs. When she contacted customer service about this, she was invariably told that “nothing could be done about it”.

Build quality and supervision

Over the years, Azizi has built a reputation for low build quality. Complaints about water leaks, poor workmanship, faulty air conditioning and poor sound insulation mainly come from older projects, such as in Al Furjan. During inspections, GREM found mold in several completed units.

Azizi consciously uses standard materials in the middle class segment. This keeps costs low, but means that the lifespan of parts such as sanitary facilities and kitchens may be limited compared to more expensive projects.

Since 2022, Azizi has been building through its own construction division (Gardinia), which has increased control and accelerated deliveries.

Financial performance and market position

In the past, there have been several signs of financial vulnerability. Between 2018—2020, subcontractors were paid late, and employees reported repeated delays in salary payments.

During the 2008 financial crisis, Azizi had to cancel four planned projects in Al Furjan (Settlersindia.com, 2009). Since then, the company has continued to build, but no public financial information is released, making it difficult for investors to assess solvency.

Investment value and resale

Azizi mainly develops mid-range apartments with a focus on rentability. On average, the resale value is lower than that of top developers. Many brokers are reluctant to sell Azizi units due to reputational risks.

Moreover, Azizi units are more difficult to sell immediately after delivery, especially when Azizi is still actively selling new phases within the same project. Private sellers must then compete with an active developer with flexible repayment plans, which reduces liquidity.

Conclusion

Azizi Developments is a volume-oriented developer with a large market share in the mid-range segment. Despite recent improvements in construction speed and internal execution, GREM analyses show that there are structural risks in terms of personnel management, customer satisfaction, legal processing and exit value.