Solidere International to showcase progress of AED220 billion Al Zorah at Cityscape Dubai |
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Internationally acclaimed city maker will also announce new developments in the region at the property fair Ajman, October 4, 2008: Solidere InternationalSolidere International
, one of the Mediterranean region's largest and most successful city and place makers will be displaying its ambitious AED220 billion master planned coastal city, Al Zorah, at Cityscape Dubai, running October 6-9 at the Dubai International Exhibition Centre. The company will also be announcing several master planned projects at Cityscape, reflecting the international class know-how and expertise of Solidere InternationalSolidere International as an internationally acclaimed place maker and leading player in urban planning. SolidereSolidere will also highlight the two major city centre developments in Egypt, Westown Cario and Eastown Cairo being developed jointly with SODICSODIC, a leading developer in the MINA region. Designed as mixed-use city centres, Westown and Eastown will be the largest integrated business and residential community in Egypt, providing all aspects and requirements of a typical flourishing society.
The Solidere InternationalSolidere International stand number PG10, Pavillion at Cityscape will be equipped to provide all information on SolidereSolidere projects, with senior officials present to address queries.
Al Zorah, launched last May to a rousing pre-sales of AED 10 billion, is going full steam ahead with construction work of the five major roads reaching an advanced stage. The concept design stage of the largest development launched to date in Ajman has been completed and the work for preliminary and detailed design stage is in progress.
Meanwhile, the first coal-driven power plant in the UAE will go onstream in Ajman in the coming three years, supplying Al Zorah city as well as other projects to be developed on Emirates Road.
"Reflecting a combination of tradition and innovation, Al Zorah is a truly spectacular project and a milestone for the emirate of Ajman in particular and the UAE in general," said Sheikh Rashid Bin Humaid Al Nuaimi, Chairman of the Al Zorah Development CompanyAl Zorah Development Company. "In line with the vision of His Highness Sheikh Humaid bin Rashid Al Nuaimi, UAE Supreme Council Member and Ruler of Ajman, the project aims to transform the emirate into a world class residential, tourism and investment destination," he added.
Dr Nasser Chammaa, Chairman and CEO of Solidere InternationalSolidere International said that Cityscape Dubai is a unique opportunity for Al Zorah to showcase the remarkable progress made on the project in less than six months and engage with stakeholders.
"Cityscape is a leading international event that attracts high net worth local and global investors looking for investment opportunities. Al Zorah holds various attractions for them, including its remarkable progress," stated Dr Chammaa.
Situated just 25 minutes from Dubai International Airport, Al Zorah will provide all the comforts and amenities of urban living with residences set in beachfront 'villages', adjacent to a commercial office district, marina, golf course, entertainment destinations, hotels, hospitals and schools.
Al Zorah will also be a 'green city' in all respects with energy expenditure kept to the minimum during the various stages of the buildings lifecycle through judicious master planning, land use mix, urban design, natural construction materials, and renewable electrical power sources, building design and other.
"Al Zorah will be a sustainable city, adopting best practices in environmentally friendly construction and living," said Imad Dana, CEO of the Al Zorah Development CompanyAl Zorah Development Company. "Developers will conform to the master plan requiring them to leave the natural beauty of the project location unharmed and employ energy-efficient construction methods as well as materials.
"The city will also promote conservation and outdoor life by providing an integrated network of walkways, canals, waterways, bicycle paths and public transport facilities, jogging tracks and equestrian centre. It will make Ajman the best place to live and work comfortably in close proximity to the major hubs and gateways in the UAE," he concluded.
Al Zorah Development CompanyAl Zorah Development Company is a joint venture between the government of Ajman and Solidere InternationalSolidere International. The Government of Ajman has granted free zone and freehold status to the project to facilitate investments and ownership. A new 8.5 km highway will link Al Zorah to the Emirates Road thus offering excellent connectivity to international airports and the neighbouring emirates.
-Ends -
About Al Zorah Development (Private) Company P.S.C.
The Al Zorah Development (Private) Company P.S.C. is a joint venture between the government of Ajman and Solidere InternationalSolidere International. It was incorporated on October 31, 2007 as a Free Zone Company under the laws of Ajman, United Arab Emirates. Its objective is to carry out all business relevant to the development of the Al Zorah area, as well as acquire land and property and then market, manage and lease these for the Company or other parties, including real estate brokerage services. The company's capital is AED4 billion,
About SolidereSolidere
SolidereSolidere, the Lebanese Company for the Development and Reconstruction of Beirut Central District, is a joint stock company formed in 1994 to spearhead the reconstruction and development of Beirut city centre and its restoration to its famed beauty and architectural marvel. SolidereSolidere was capitalized by bringing together property rightholders and cash investors. Over the years the company has established a track record and a unique interdisciplinary team with practical experience in urban planning, real estate development, property management and marketing of large scale developments, including public utilities.
About SolidereSolidere International
Solidere InternationalSolidere International, partly owned by SolidereSolidere, is registered in Dubai International Financial Centre. Other shareholders in the company include individual and institutional investors from the Middle East and Europe as well as international funds. Drawing on SolidereSolidere's 15-year expertise in urban planning, project consultancy and management, Solidere InternationalSolidere International offers a complete package that includes master planning, financing, marketing and management for developers and planners in the region and beyond.
For more information, please contact:
Nizar Saab
Sara Hamam
ASDA'A Public Relations
Tel: +971-4-3344550,
Fax: +971-4-3344556
E-Mail: n.saab@asdaa.com
E-mail: s.hamam@asdaa.com
© Press Release 2008
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