Sweet Homes Holdings says construction of the residential units will likely resume in 2015 after the past year's property slump.
Sweet Home Holdings (SHH) confirmed that it will soon restart work on 1,204 villas in Ajman Uptown, a USD 750-million (AED 2.75 billion) master development.
"We have already completed 300 villas and are expecting to get clearances from the authorities to begin handover of the units by March 2015. We will then start work on the remaining 1,204 villas," Fahad Sattar Dero, chief executive officer of SHH told Zawya Projects in an exclusive.
"We had slowed down the pace of work post the global financial crisis as our investors were not meeting payment schedules. Now [that] they are, we have reworked their payment schedules and we can restart work in full swing."
The developer will also start work on a 74,322-square-meter shopping center, which is part of Ajman Uptown development.
Sweet Homes General Contracting, SHH's in-house construction company, will carry out work on the villas and shopping center, which will be completed within 18 and 24 months, respectively.
According to the company website, Ajman Uptown is spread over 3.5 million square meters of land next to Emirates Road and Emirates City. Adnan Saffarini Consulting Office is the main consultant and architect of the project.
© Zawya Projects News 2014
