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.
Infrastructure and Developments to Watch in Ajman
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interest from overseas investors, Ajman’s officials are investing a lot of effort and money into updating the current outdated infrastructure.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.
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As Dubai developer’s, Emaar approach the completion of the construction world’s tallest building - the Burj Dubai, their chief competitor’s; Nakheel another Dubai based developer, announced plans on Sunday to build an even more ambitious skyscraper that is to soar a kilometre high.
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Cityscape 2007 Exhibition Hall (Cityscape)
Cityscape Dubai, the biggest real estate investment and development event in the world has opened its doors today as fears of a new kind strike this emirate. Not so long ago Dubai was celebrated as the golden child of real estate with fortunes being made and a mad building boom attracting thousands of overseas investors to take part in the property stakes.
As the US and European credit crunch turns more worrying by the day, fears are now circulating that Dubai might be next to suffer the consequences. Not much pointed investors to this new turn of events as in the first quarter, Dubai’s housing market was still a very strong performer with a 43% rise.
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Sometimes it is just nice to know how the other half live. Since we hear so much about Dubai’s property boom we wanted to see whether celebrities agreed with the general population as they often scoop up the best deals in the process.
So we went on a celebrity Dubai property hunt and that is what we came up with.
David & Victoria Beckham
Mr & Mrs Beckham in LA [credits: Nicholas Macgowan via flickr]
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Ajman Property Law
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.
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Saturday, September 27th, 2008
Posted by Overseas Property Mall in
Dubai Property
Aquitainia is the fusion of two islands, Spain and France located in the middle of Dubai’s The World. The new £750 million private island paradise project was announced on September 25th by British developers, Select Property. Select Property is teaming up with Dubai based developer Select Group to launch this exciting luxury development.
“The World” has already made waves around the world due to its stunning location just four kilometres off the coast of Dubai. The cluster of 300 man made islands will be representing the world and are set to be completed in 2012.
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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.
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Following our Jebel Ali property market overview post, we have hand-picked these four off-plan property developments in Downtown Jebel Ali, Dubai. The first two are residential, followed by two commercial/office space developments.
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Downtown Jebel Ali, is a 200 hectare urban development zone south of the Jebel Ali Port Trade Freezone (the world’s largest man-made harbour ), north of the soon to be largest airport in the world - Jebel Ali International Airport (JXB) and 11 kilometres along Sheikh Zayed Road (or E 11), the longest highway in the United Arab Emirates. With the current trend of property prices in Dubai, Jebel Ali’s relatively low prices and strategic location has put it on our property investment radar as a promising area to watch in Dubai. As construction in Downtown Jebel Ali continues, it is considered to be the heart and soul of logistics in Dubai as it is to be the residential district for workers in the trade freezone port & airport.
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Lago Vista 2 is a mediterranean inspired, 24 storey residential development gracefully designed around a crescent-shaped portico. It is to be a green development offering residents well manicured lawns, breathtaking fountains and spectacular gardens. Unique floor designs offer residents breathtaking picturesque views of Arabian Ranches and the glittering lights of Dubailand.
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