Prestigious Esskay Executives in New Ajman in the UAE was long awaited when it was launched in November 2008. This visionary concept to transfer the existing skyscraper concept of the Arabian Emirate has certainly raised interest levels for investors worldwide.
Esskay Executive is in pre-launch period with heavily discounted pre-launch prices right now giving buyers first pick on the best apartments in this 58-storey tower also dubbed “the rising of an icon”.
Next year the Ajman government will follow in the footsteps of the Dubai’s Real Estate Regulatory Authority when they introduce their own regulations for real estate developments in the emirate.
Back in September we covered the new Ajman property law and how it will take effect. However, it took longer than initially anticipated to sort out the finer points on the law. Further to this, the Ajman government wants to see Dubai’s law instigated first to keep things in order and not confuse buyers in the emirate nations.
The law will be welcomed by investors as some have been caught out buying from the wrong source. Chief executive of Aqaar Properties and the director of Al Zorah, Rami Dabbas said “The problem here is that people sometimes don’t investigate what they’re buying. So many people just buy off-plan without knowing the details or asking questions, such as whether the company is registered.
Executive Towers is a masterfully planned mixed use development offering both businesses and residents elegant ultra modern urban facilities within the most inspiring surroundings of Al Helio Downtown in Ajman. Executive towers is designed by renowned architects Atkins, and will include a wealth of Residential, Business and Recreational facilities.
Executive Towers in Al Helio Downtown is tipped to become the UAE’s next property hot spot. Huge capital growth forecast and the opportunity to flip the investment before completion of the development make this type of investment a sure fire winner.
This is the third and final part of our three part Ajman property market overview. In part one we looked at the high potential Ajman’s property market has right now. Then in part two we covered the recently updated Ajman property law, allowing overseas investors to buy freehold.
With rising interest from overseas investors, Ajman’s officials are investing a lot of effort and money into updating the current outdated infrastructure.
Last year some Dh 500 million (£70m) has been invested to update the road network, intersections, bridges and renovation costs. This year, the anticipated total of all the monies already spent for infrastructure totals some Dh 1.38 billion (£220m).
This doesn’t include the Ajman Marina which is estimated to cost $2 billion and expected to be completed in 2015. It will be home to some 21,000 residents offering freehold property ownership.
In part 1 of our Ajman mini series we provided a general Overview of the Ajman Property Market. We established the fact that Ajman is definitely one of the regions in the UAE to keep your eyes peeled on.
Today we will look at Ajman’s new property law to give you more insights into your investment opportunities. Since the property law has been modified to legalize freehold ownership in Ajman, the rules seem much clearer.
Back in May we posted an article about the Ajman property market and how things are heating up in this smallest of the seven UAE emirates. As it turns out, our hunch was correct. Ajman has since heated up considerably and with neighboring Dubai becoming more and more expensive and unaffordable for many, Ajman has been the emirate of choice for many investors and developers as of late.
Therefore we will cover the Ajman property market over a three part post series to give you information on investor strategies, property prices, infrastructure, the newly reformed Ajman property law and where all the action happens right now.
