Studio Apartment in Azizi Riviera Reve Tower 3, Meydan One, Below Market with Cash Deal

Property Overview

A studio apartment in Azizi Riviera Reve Tower 3, Meydan One, offered at AED 1,000,000 for 433 sqft of built-up area at AED 2,309 per sqft. The agent describes this as approximately 23% below market. The unit is oqood registered and the seller requires a cash transaction. Handover is expected by the end of 2026, with construction currently at 79% completion.

Property Highlights

• Type: studio apartment
• Built-up area: 433 sqft
• Asking price: AED 1,000,000
• Rate: AED 2,309 per sqft
• Payment: cash
• Oqood registered
• Handover: end of 2026
• Construction: 79% complete
• Developer: Azizi Developments

Price Analysis

The agent claims the asking is approximately 23% below market but does not supply a specific original purchase price or market benchmark figure. No original price, savings amount or savings percentage can be calculated from the brief.

DLD Transaction Context

DLD records on Property Finder show 68 total sales registered for Azizi Riviera Reve across all three towers. The studio transactions are:

• September 10, 2026: AED 1,500,835 for 457 sqft in Tower 1 (AED 3,285 per sqft)
• September 8, 2026: AED 1,688,830 for 559 sqft in Tower 1 (AED 3,021 per sqft)

Both recorded studio transactions are in Tower 1, not Tower 3. At AED 2,309 per sqft, the asking is 23.6% below the AED 3,021 per sqft recorded for the 559 sqft studio and 29.7% below the AED 3,285 per sqft recorded for the 457 sqft studio. These DLD registrations are all off-plan, likely representing primary developer sales rather than secondary market resales.

The per-sqft discount against DLD data is consistent with or exceeds the agent's ~23% below market claim. However, the 433 sqft unit is smaller than both recorded studios (457 and 559 sqft), and different tower positions may carry different pricing. Buyers should request the original purchase confirmation from the seller to verify the actual OP and discount.

Broader Riviera Reve Transactions

For context, 1-bedroom units in Riviera Reve are transacting at AED 2,028,840 to AED 2,828,000 (787 to 1,135 sqft) and 2-bedroom units at AED 3,125,265 to AED 3,431,400 (1,208 to 1,215 sqft). All transactions are off-plan status.

About Azizi Riviera Reve and Meydan One

Azizi Riviera Reve is a 3-tower residential development by Azizi Developments within the Riviera community in Meydan One, Dubai. Riviera is a French Mediterranean-inspired waterfront district comprising 75 mid and high-rise buildings with approximately 16,000 residences. Reve is positioned as the most premium phase within the community.

The project offers studios (350 to 574 sqft), 1-bedroom (623 to 833 sqft), 2-bedroom (902 to 1,750 sqft) and 3-bedroom (1,691 to 1,713 sqft) apartments. Amenities include a crystal lagoon, swimming pool with sun lounger deck, gymnasium, tennis court, retail outlets, restaurants, covered parking, valet service and 24/7 security.

Meydan One is a master-planned district within Meydan, located along the Dubai Water Canal with access to Dubai Al Ain Road and Ras Al Khor Road. The area is approximately 13 minutes from Burj Khalifa and Dubai Mall by car.

Construction and Handover

As of the most recent update, Azizi Riviera Reve is 79% complete. Structural work is 100% finished, blockwork at 98%, internal plastering at 92%, HVAC at 89%, MEP at 71%, facade at 69%, external works at 63%, swimming pool at 57% and elevators at 48%. Approximately 1,100 workers are deployed under contractor Gardinia Contracting.

The developer targets Q4 2026 for handover, consistent with the agent's indication of end 2026. The original expected completion was December 2024 per earlier listings, indicating a delay of approximately two years.

Cash and Oqood Considerations

The seller requires a cash transaction, which typically means no mortgage or payment plan. The unit is oqood registered, confirming its off-plan purchase is formally recorded with the Dubai Land Department. The oqood registration provides legal protection and allows for a verified transfer process.

Buyers paying cash for a near-handover unit should factor in the upcoming DLD transfer fee (4% of sale price, AED 40,000 at the asking) and any outstanding service charge obligations from the developer.

Verification Notes

• No original purchase price is supplied by the agent. The ~23% below market claim is the agent's estimate and cannot be independently verified without the original purchase confirmation.
• DLD price per sqft data (AED 3,021 to AED 3,285 for studios) supports a discount of 23.6% to 29.7% at the per-sqft level, though these are Tower 1 transactions and the subject unit is in Tower 3.
• The original handover date of December 2024 has been delayed to Q4 2026, approximately two years. Construction is 79% complete with structural work finished.
• The agent does not specify floor number, unit number, view, bathrooms, parking or furnishing. These have been omitted.
• The cash requirement and absence of an OP suggest a motivated seller, but buyers should independently verify the discount by requesting the original SPA from the seller.