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Ajman real estate sector booming
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Ajman, the smallest among UAE's seven emirates, has attracted Dh55 billion ($15 billion) investment in real estate sector during the last two years, a statement said.
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This includes Al Azoura - a Dh47.7 billion ($13 billion) project being developed by the Ajman government and Solidere, a Lebanese company created by slain Lebanese Prime Minister Rafik Hariri, as well as Ajman Marina, a Dh7.35 billion ($2 billion) waterfront development.
For this new development, Ajman has put aside up to $600 million which will be dedicated to the project's infrastructure.
"With a total investments already reaching $7 billion from projects launched after 2004 and 2005, Ajman is now planning to develop four new major property projects that is anticipated to drastically alter the emirate's landscape, making it more beautiful and distinguished than before," the statement said.
Shaikh Ammar Bin Humaid Bin Rashid Al Nuaimi, Crown Prince of Ajman, said: "The position of the emirate will be consolidated through the efforts of the authorities and a number of international experts who are contributing to developing the emirate and creating a healthy investment environment that can benefit everyone."
R Holding last year unveiled a Dh14.68 billion ($4 billion) Emirates City, as well as the launching of Aqar that has recently launched Dh2.1 billion Ajman 1 project.
The Government of Ajman's development plans will contribute to raising the economy and tourism levels inside the emirate, Shaikh Rashid Bin Humaid Al Nuaimi, Municipality Chairman and executive-president of Aqar said.
"Today Ajman is playing a leading role in the field of property investments with the facilities we have on offer that come with the projects we are developing. We are now providing unique and outstanding investment opportunities that were not even conceivable before," he said.
Ajman Municipality recently signed a memorandum of understanding with a major company to assist the emirate in the development of Ajman. Over the next six months the work will include the development of a sewage system that will cover half of the emirate and the completion of a sewage station after a year. |
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Courtesy
Gulf News
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Jupiter Web networks |
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Hot
properties in UAE - Freehold |
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