21 July 2009
Ajman: Marmooka City, the largest planned community along Emirates Road in Ajman, has been scaled back from 206 towers to just 20 buildings as a result of downturn in investor demand, according to a senior official at Real Estate Investment Establishment (REIE), the master developer.

The initial project plan of the luxury suburban development was to have a 206 residential and commercial buildings and feature Manara Ajman the tallest tower in the emirate with a school, clinics, a large shopping mall and five-star hotels.

The project was scheduled to be completed next year as originally due for completion next year.

More than Dh1 billion (US$272 million) have been paid so far by developers to buy a land within the planned Marmooka project.

They will be partially refunded but not in cash for projects that have been shelved or cancelled. 

© Gulf News 2009