Ajman Investment and Development Authority (AIDA), the government body behind the development of Ajman, one of the seven states making up the United Arab Emirates, has unveiled a semi-governmental company charged with developing its burgeoning real-estate potential and its first project Ajman 1, which will herald its transformation into a niche residential and tourism destination.
The vision of His Highness Sheikh Humaid Bin Rashid Al Nuaimi, Ruler of Ajman, is to utilise the development company’s to transform the emirate into a popular world-destination for both tourism and business, by spearheading the creation of quality residential and commercial projects.
“The evolution of Ajman is being driven forward by a solid foundation of government bodies and international expertise, this has lead to an intense focus on creating and delivering a quality environment in which all those living in the emirate will benefit and succeed,’ said Sheikh Ammar Bin Humaid Bin Rashid Al Nuaimi, Crown Prince of Ajman.
Aqaar – the real-estate and property development company created in 2006 - will oversee Ajman 1’s mixed-use development. The company has partnered with Dubai-headquartered Asteco, one of the UAE's largest property services companies, to handle the project’s sales.
Investors buying into the 12 freehold residential towers, which will be built on a podium structure allowing up to four storeys of car parking underneath, will have residence visas automatically issued as part of the sales process.
“Ajman 1 will be the first of many projects being developed by Aqaar,” explained His Highness Sheikh Rashid bin Humaid Al Nuaimi, Head of Ajman Municipality and CEO, Aqaar.
“This is a major step forward for Ajman. The creation of Aqaar signals a stepping up of the emirate’s economic progression, with Ajman 1 being a beacon for future growth.
“Aqaar will be the driving force behind the municipality and AIDA’s progressive plans for Ajman. A solid infrastructure is being implemented that focuses strongly on road development to improve connections with neighbouring emirates.
“It is important to make sure that the latter elements are not overlooked or rushed, as this will only cause problems in the future. Concise planning is essential, and this is how we are operating.
“Ajman 1 is symbolic of the government’s intention, under the wise leadership of the Ruler, His Highness Sheikh Humaid Bin Rashid Al Nuaimi, to create an alternative gateway for business and tourism. Ajman 1 is a physical demonstration of the emirate’s renewed economic openness.”
Ajman 1, which will be at the entrance of the emirate’s coast road after leaving the Coral Beach roundabout in Sharjah, will be developed in two phases, with construction due to begin in the first quarter of next year. The 72,000 square metre plot will be a seamless fusion of residential, commercial, hospitality and lifestyle elements.
“The residential offering will target the mid-range segment and prices will be highly competitive. The 3,000 apartments will have quality finishes, and all will have full bathrooms and balconies. The project will fill the void that has been left with the development of so many super luxury projects that people are struggling to afford,” added Rami Dabbas, Head of Real-Estate Development, Ajman Investment and Development Authority, and COO, Aqaar.
Phase 2 will concentrate on the construction of a world class hotel to be managed by an international operator, one freehold commercial tower, serviced apartments and a tower for leased apartments.
The UAE’s National Engineering Bureau, one of the country’s leading design consultants, is behind the Ajman 1 master plan.
“Aqaar and Ajman 1 will bolster the Ajman government’s strategy of increasing business and tourism in the emirate. The UAE has the world’s fastest-growing population with a staggering increase of 75 percent in the last ten years, and Aqaar has been created to develop affordable quality projects to cater for the ever increasing demand,” added Dabbas.
“An extensive feasibility study was conducted to asses the residential, tourism and commercial landscape in the UAE. The study highlighted the need for more affordable quality living and working environments. Therefore, we have formulated a solid plan to tackle the void that has appeared in these sectors as Ajman is the perfect platform to fill this gap.”
Master planned to take full advantage of its proximity to Ajman’s pristine beachfront and strategically positioned only 20 minutes away from Dubai International Airport (DIA), the residential 26-32 storey towers offer a combination of studio, one, two and three bedroom apartments that will eventually be home to 6000 residents.
“The towers form the core of the development, and we can guarantee that all apartments will have their own balconies. A dedicated residential community centre will house leisure facilities for both adults and children,” commented Dabbas.
The Ajman 1 community will benefit from gyms, swimming pools, children’s playgrounds and family barbeque areas.
A technologically advanced commercial tower will form the centre point of the business offerings. State-of-the-art features have been integrated into the structure to create an efficient and comfortable work environment.
“The prices of the residential towers will start at around AED 330 per square foot, which compared with a majority of developments in neighbouring emirates is incredibly competitive.
“We believe Ajman has huge potential as an affordable place to live for those working in Sharjah and Dubai and as an alternative tourism destination blessed by wide, clean beaches and a relaxed cosmopolitan lifestyle. Its appeal will initially be region wide but as the emirate’s profile builds, we envisage strong demand from further afield, including a majority of neighbouring countries,” commented Dabbas.
