Farhad Azizi
 | This article was nominated for deletion. The discussion was closed on 14 February 2024 with a consensus to merge the content into the article Azizi Bank. If you find that such action has not been taken promptly, please consider assisting in the merger instead of re-nominating the article for deletion. To discuss the merger, please use the destination article's talk page. (February 2024) |
 | The topic of this article may not meet Wikipedia's general notability guideline. (January 2024) |
 | This article may contain an excessive number of citations. (January 2024) |
Farhad Azizi | |
|---|---|
| Born | 1982 (age 41–42) |
| Education | University of Tulsa, Suffolk University in Boston |
| Occupation(s) | businessman, investor and entrepreneur |
| Known for | Chairman and owner of Azizi Bank |
| Father | Mirwais Azizi |
Farhad Azizi is a UAE based businessman,[1][2] billionaire, investor, entrepreneur and the CEO of Azizi developments.[3][4] He is the chairman of Azizi Bank, the largest commercial bank in Afghanistan,[5][6] which he established in 2006 with $7.5 million in equity capital and has since reached up to $80 million.[7][8][9] He is the CEO of Azizi Group of companies which was founded in 1989 with a presence in realty, banking, investment, and hospitality.[10]
As of 2018[update], he was arguably the richest person and family of Afghani origin. He featured in the list of "Arabian Business as one of the 100 Inspiring leaders in the Middle East" in March 2018.[11][12] He is regarded as one of the richest people of Afghanistan with a monopoly in petroleum products.[13][14] Azizi Developments is a Dubai-based property developer.[15][16][17][18]
Early life
After moving from Afghanistan to Dubai as a young boy along with his father Mirwais Azizi, they founded the Azizi Group in 1989.[19][1][20]
A graduate of the University of Tulsa, Azizi obtained an MBA in finance management from Boston-Suffolk University. After completing his studies, Farhad spent time in Europe before moving back to the UAE.[21][22][23]
Career
In 2007, Azizi Developments was established. In 2006, Azizi Bank was found, now the largest commercial financial institution in Afghanistan.[5] They also acquired Bakhtar Bank (now Islamic Bank of Afghanistan)[24] which is regarded as one of the reputed banks in Afghanistan.[12]
Azizi Developments started selling off-plan properties in Dubai until the global financial crisis struck. The majority of buyers could not continue payments and Azizi instructed that their deposits be handed back.[25]
In 2013, Azizi Developments resumed the construction of projects. Presently, the company has more than 200 projects under various stages of development with a current portfolio Dubai valued over AED 45 billion.[26] His petroleum business Azizi Hotak Group, which was started with an initial investment of $80 million, operates in 10 countries.[27]
Companies
List of companies/organizations owned by Azizi;
- Azizi Hotak General Trading Group
- Azizi Investments
- Azizi Developments
- Azizi Bank
- Bakhtar Bank (now as Islamic Bank of Afghanistan)
- Azizi Hospitality
- Azizi Foundation
References
- ^ a b "Farhad Azizi: 'Location has always been the key criteria for a property's desirability'". Arabian Business. 10 Aug 2021.
- ^ Rahal, Nabila (18 Mar 2022). "Azizi "under-promises and over-delivers" with 2.7km-long crystal lagoon to be completed ahead of schedule". Arabian Business.
- ^ Thomas, Aby Sam (June 10, 2019). "Follow The Leader: Azizi Developments CEO Farhad Azizi". Entrepreneur.
- ^ "Azizi Developments is finally ready to take on a 'billion-plus mixed-use iconic' project in Dubai: CEO". gulfnews.com. 17 June 2021.
- ^ a b Barnard, Lucy (March 30, 2015). "Azizi presses ahead with thousands of apartments in Dubai". The National (Abu Dhabi).
- ^ Schreck, Adam (September 7, 2010). "2nd Afghan bank with Dubai ties defends links". Deseret News.
- ^ Gregson, Jonathan (May 1, 2018). "World's Best Bank Awards 2018: Asia-Pacific". Global Finance.
- ^ "Dubai developer pushes new launch despite supply worries". gulfnews.com. 11 September 2019.
- ^ Writer, Staff (August 29, 2018). "Azizi launches third project in Dubai Healthcare City | UAE News".[permanent dead link]
- ^ Halligan, Neil (October 26, 2017). "Build and they will come: Azizi CEO Farhad Azizi". Arabian Business.
- ^ "100 Inspiring Leaders in the Middle East". Arabian Business. 2018. Retrieved 6 August 2018.
- ^ a b "100 Inspiring Leaders In The Middle EastMirwais : Azizi". Arabian Business. March 2018.
- ^ Khan, Sarmad (November 22, 2022). "Cityscape 2022: Azizi plans $15bn spending and launch of Dubai's second-tallest tower". The National.
- ^ "Giordano Middle East embarks on ambitious expansion plan". Arab News. November 22, 2022.
- ^ "UAE developer Azizi launches new division to add Dubai retail portfolio". ArabianBusiness. Retrieved 2024-01-23.
- ^ Mansoor, Zainab (December 1, 2019). "Dubai's Azizi Developments orders Tesla's Cybertrucks for customer site visits | UAE News".[permanent dead link]
- ^ "Developer Azizi reveals construction rate progress across Dubai projects". ArabianBusiness. Retrieved 2024-01-23.
- ^ "Time to deliver for Aziz Developments". ArabianBusiness. Retrieved 2024-01-23.
- ^ "Power Hour 2021: Farhad Azizi, CEO of Azizi Developments, Ranks 11th". Construction Business News Middle East. September 8, 2022.
- ^ Report, Staff. "Azizi Developments breaks ground at Dubai Healthcare City's Creek Views II". Khaleej Times.
- ^ "Azizi Developments' Park Avenue is now 40% complete". www.tradearabia.com.
- ^ Release, Press. "Azizi Developments' ramps up construction speed at Riviera in MBR City". www.zawya.com.
- ^ Khan, Sarmad (November 10, 2021). "Cityscape 2021: Azizi Developments to spend $2.72bn on new projects in Dubai by 2025". The National.
- ^ Mohammadi, Zarmina (April 25, 2018). "First Islamic Bank In Afghanistan Opens For Business". TOLOnews.
- ^ Halligan, Neil (April 17, 2016). "Time to deliver for Azizi Developments". Arabian Business.
- ^ "UAE's Azizi records $350m home sales at Cityscape". Arabian Business. September 17, 2017.
- ^ Fenton, Suzanne (June 4, 2008). "Azizi Investments plans 55 Dubai projects". Gulf News.