Sweet Homes, a leading UAE-based developer and multi-service provider to the real estate sector, announced that it has sold 40 per cent of the seven commercial and residential developments within its AED 2.5 billion ‘Ajman Uptown’ project. Collectively valued at AED 1.3 billion, the towers are currently being showcased together with the developer’s previously launched ‘Rainbow Towers’ project at the ‘R&R Local Property Show’, which was opened yesterday (June 19, 2008) by Sheikh Majid Bin Saeed Al Nuaimi, Chairman of Ajman Ruler's Court. The high profile community development has gathered outstanding response from participants at the event, which is being held at the Sheikh Zayed Center for Conferences & Exhibitions, (Ajman University of Science and Technology) in Ajman.
The seven mid-rise towers include five mixed-use luxury developments - ‘Heliconia’, ‘Iris’, ‘Jatropha’, ‘Kentia’ and ‘Ludisia’, and two office towers - ‘Freesia’ and ‘Gardenia’. Set to offer a selection of studio, one- and two-bedroom flats and prime retail spaces on the ground floor, the residential units have attracted investors looking to settle within a holistic community development. In addition, start-up and established businesses have also recognised the potential of setting up their base at the office spaces offered within ‘Ajman Uptown’, which boasts of a prime location that is accessible directly from Emirates Road.
“In addition to its rapidly growing economy, the high quality standard of developments being completed in Ajman today is at par with that of the most prestigious projects in Dubai and the rest of the region. This, in addition to the relatively lower cost of built space in the emirate, has jointly driven the sweeping success of our ‘Ajman Uptown’ project,” said Fahad Sattar Dero, CEO, Sweet Homes Group. “Our presence in this event is aimed at showcasing the winning concept and features that have resulted in the outstanding sales performance of the seven projects, while giving potential investors a glimpse of our future undertakings.”
Being held under the patronage of Ajman Land and Property Department, the second edition of the ‘R&R Local Property Show’, which now focuses on the Northern Emirates, is the first exhibition to gather major developers from Ajman, Sharjah, Ras Al Khaimah, Umm Al Quwain and Fujairah under one roof to showcase their properties to the public. A wide range of properties for rent and sale are currently being showcased to an audience comprised of high-potential investors who have converged at the free-entry event. Among the most prominent exhibitors at the show include Estate 400 Real Estate, Chapal World, Minaret Properties, Cobalt Real Estate, Broooks Real Estate and Ambience Real Estate.
“Our main goal in this event is to draw in more investors to Ajman, in line with our growth strategy and in support of the government’s initiative to build the emirate’s repute as an important real estate destination. Amidst the current boom in the industry, we measure our success not only by the profits we have made, but more so by the contribution our developments have given to the overall development of this emirate,” concluded Dero.
In addition to ‘Rainbow Towers’ and ‘Ajman Uptown’ projects, Sweet Homes also recently announced that it will be launching a host of projects within the AED 120 billion Ajman real estate market, as part of its AED 2 billion investment plan for 2008. Its extensive experience in the fields of general engineering and contracting, trading, real estate brokerage, marketing, selling and managing prestigious properties in the UAE have been fuelling its ambitious plans to establish a leading position in the regional real estate market.
© 2008 Al Bawaba (www.albawaba.com)
