The Ajman Government yesterday launched a Dh15 billion mixed-use development, featuring 72 residential and commercial towers.
Located on the Emirates Road, which is linked to the other emirates of Ras Al Khaimah, Umm Al Quwain, Sharjah, Dubai and Abu Dhabi, the project consists of about 72 residential and commercial properties and is expected to feature lakes and parks, a shopping district, mosques, five-star hotels, educational and medical facilities.
"Emirates City is one of several significant developments that are part of the ongoing maturity of the property sector in the UAE, which is enabling for us to provide a world class standard of living that is unbeatable anywhere," said Sheikh Rashid bin Humaid Al Nuaimi, Chairman of the Ajman Municipality and Planning Department.
"We envisage that this development, like all the major projects currently under development across the entire UAE, will continue to draw a large amount of international investors from across the world." he added.
Dr Ahmed Al Samerai, one of the board members of R Holdings, the Emirates City's developer and supervisor, said that the project will add a new dimension to the emirate's economy.
"What we are creating here is a development that is unique in the field of proper ty investment. The social and economic benefit that this city will produce for Ajman and its neighbouring emirates is immeasurable; The Emirates City is a city-wide development that people from a variety of classes and walks of life can benefit from." More than 25 towers will come up in Emirates City's first phase, while the downtown area being developed at a later phase will include a shopping mall featuring branded retail outlets.
"Here, people will be able to live in a place that provides good security and welfare, which comes at an affordable price with no compromise in quality. For this project we have worked with the biggest and the best developers," said Dr Al Samerai.
"People are looking for affordable prices away from the traffic and the noise, while having easy access to their work; all those elements and more will be available in the Emirates City." The 72 residential and commercial towers will be staggered and will range between 20 and 50 floors. The project will be freehold and available to all nationalities.
By Emirates Today Staff
© Emirates Today 2006
