Overseas Property Blog :: guide to international real estate investment

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Is Ajman Going To Be The Next Mini Dubai?

by OP-Mall on Tuesday, May 20th, 2008 in Ajman Property, New Development Alert, UAE Property

Ajman is one of the seven emirates that make up the UAE (United Arab Emirates). It’s total area only comprises of 260 square kilometres but the ruler of the emirate, Sheikh Humaid bin Rashid Al Nuaimi has big plans for this small emirate.

Sheikh Ammar who is the crown prince of Ajman and the son of the ruler said in an interview with The National

“We want Ajman to become the getaway from the hectic working cities of Abu Dhabi and Dubai where someone would spend three days working – and three days relaxing in Ajman”.

The Al Zorah Project

Earlier this month the emirate announced plans to build a brand new city along it’s coast by the name of Al Zorah to a total estimated cost of Dh220 billion (US$59.9 bn) investment

This development is set to bring a lot of new jobs and while the focus of the development is on quality, Sheikh Ammar also mentioned the emirate’s priorities regarding the environment. The coastline is 16 km long and contains fragile mangrove swamps and wildlife.

A total of 12 million square meters of coastal and reclaimed land will be part of the new development and it will extend the waterfront by 12km.

“We are transforming virgin lands into a beautiful getaway,” Sheikh Ammar explains.

Al Zorah, The joint venture project between the Dubai-based affiliate of the Lebanese company Solidere and the Ajman government will include five public marinas, a championship golf course, offices, shops, five star holiday resorts as well as villas and apartments. Horse lovers will also be able to enjoy an equestrian centre.

So far, the total investment in Ajman real estate has already exceeded Dh400bn. This relates to half of Al Zorah’s residential property already been sold.

The heaviest investors are nationals from the other emirates. New infrastructure is also a major focus of the Ajman government to satisfy the needs of the ever growing tourism sector.

Last year alone the government assigned Dh500 million to improve transport links. A new international airport is scheduled to open in 2011, which will lessen the stress on the fully booked flights into the emirate.

While this all sounds great, the emirate already faces a serious problem that needs immediate attention. To combat a growing energy crisis in the northern emirates, the Federal National Council gave the green light for private companies to provide power generators and produce desalinated water under the supervision of FEWA, in line with national environmental standards.

How to invest in Al Zorah

With a huge rush to acquire property in Ajman at the moment, there is apparently some leadway for would-be investors. Plus Properties, a leading property development company in the UAE recently acquired $80m worth prime sea facing land in Al Zorah for residential and commercial property development.

Contact Plus Properties via their website for off plan investment opportunities in Ajman (particulary in Al Zorah).

Download the full Al Zorah brochure

The official Al Zorah website

Also follow the Al Zorah thread on the SkyScraperCity forum

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This entry was posted on Tuesday, May 20th, 2008 at 12:18 pm and is filed under Ajman Property, New Development Alert, UAE Property. You can follow any responses to this entry through the RSS 2.0 feed.You can leave a response, or trackback from your own site.

  • Andrew

    Many thanks for the links and tips guys! Ajman, seems like a very smart place to invest at the moment.

    I’ll keep you updated on how I get by.

    cheers :)

    Andrew

  • http://portmillestates.blogspot.com/ Paul Duncan-Smith

    You guys have some real good content on Ajman. I am too collating information on this region..it all looks fairly exciting here at the moment.

  • zahid khan

    i need an apartment in ajman .can somebody guide me in this regard,

  • http://portmillestates.blogspot.com/ Paul Duncan-Smith

    Hi Zahid, I can send you some information with regards to apartent’s in Ajman. If you send me an e-mail to ogillies@portmillestates.com, with what you are looking for I will send you all the relevant information I have.
    Regards
    Paul

  • http://www.mashaestates.com/index.php?option=com_content&task=view&id=46&Itemid=91 Masha Estates

    Freehold Apartments for sale in Jumeirah Village in Dubai, UAE

  • Raymond Younan

    I have a full floor in Ajman – Humaid Gate Tower that Iwill sell for cost and throw in free parking if anyone is interested.

  • http://dubaipropertyinvestment.info Dubai Property Investment

    I lived in Sharjah back in 2000 and Ajman was quite a close city. I have seen Ajman up close and its a wonderful place.

  • http://www.mashaestates.com Masha Estates

    freehold apartments for sale in Marmooka City, Ajman.Good price. visit http://www.mashaestates.com

  • Property Watcher

    I already took 1 BR apt in one of Eye of Ajman Projects, still in my progress of doing the payment plan.
    I ever encountered some property investment forum concerning about their investment in Ajman, especially in this global crisis. Some people are to be panic customers, it affects me a bit. They said they are afraid of continuing their payment plan and want to pull out their investment even at loss.
    But now I’m very relieving when i read this article.
    I think it will be going well for the Ajman downtown development.
    What do you think about these panic customers which sometime affect other investors?

  • ASAD NAYANI

    I think that Ajman will really boom because of several reasons.
    1) Dubai became highly inflated so investors are looking for safe heaven nearby who cannot move their money out.
    2) No banks involvement.
    3)No financial implication.
    4)No stock markets as such.
    As you spoke abt global crisis and people panicking. Let me tell you this is media and big investors who want people to pull out. Because if any1 like you or me pull out then they will get the same flat for atleast 50% less thn the current market as u probably understand human psycology.

  • http://www.evergreenuae.com Hamza Ismail

    Anyone interested in investing in Ajman, please contact me at hamza@evergreenuae.com. We are real estate developers and brokers dealing in Ajman property for the last 3 years. We have great opportunites right now for potential buyers as prices have dropped substantially although rental returns are still high at 8-10% per annum.

  • sanjeev pathak

    I have invested in 2 properties in the Ajman Gold development which is currently off-plan due for completion in 2011. The monthly installments are very easy.

    Personally believe Ajman is a great investment for all of the reasons mentioned in previous messages. Make sure you buy from a developer which is linked to the government (Real Estate Investment Company) which Ajman Gold is linked to. This way you will ensure that limited supplies of energy (electricity) are supplied first to your developments.

    Also, as the Dubai experience shows, properties should be bought on a long-term outlook….’flipping’
    is now a bad idea – short term profit taking ideas are for the stock markets…properties should be long-term.

  • http://www.overseaspropertymall.com Overseas Property Mall

    are you advertising Ajman Gold development? hmm…

  • Fiaz Ahmed

    I would like to invite all the investor who have invested in Goldcres Smart Towers Ain Ajman project. In order to save your investment, please keep yourself intouch with each other. My email addres is fiaz_ahmed@ublme.com

  • Babupaul

    I have invested in Ajman Pearl Project. Work Progress is Less, but the Developer assures the Handover in 2011. Anybody invested in the same project please contact in my ID.

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