Dubai, 13 October 2008: GREAT PROPERTIES, a UAE-based real estate agency, has announced the launch of Ajman Residencia tower units for sale - worth over AED 200 million in investment value.

Located in Humaid City, Ajman, the property is being developed by Rashid Real Estate and will be completed by 2011. GREAT PROPERTIES has been given exclusivity to promote, sell and market Ajman Residencia as part of an agreement with a key investor in Ajman, which also includes other developments within Humaid City.

"We are offering investors a high-quality development coupled with an attractive interest free six-month payment plan. This is unmatched elsewhere in the UAE." said Mohammed Al Zarah, Vice President of GREAT PROPERTIES.

Al Zarah also cited the unparalleled value for money of investing in Ajman, as the emirate quickly becomes a key business and commercial hub regionally and globally, with many individuals and businesses setting up base there.

Ajman's seaport currently serves over 1000 vessels a year, a major expansion project currently in progress is expected to substantially increase the number of docking ships, as well as optimise and diversify the port's services. In addition, the multi-million Dirham development project for the Ajman Free Zone will attract over 600 foreign and local companies.

The emirate's planned international airport is also a key attraction - all of which establish Ajman as both an excellent place to invest or live.

"Ajman Residencia is one of our key projects in the UAE, and we are happy to be partnering with GREAT PROPERTIES to launch it in the market. This is our first collaboration, and we look forward to partnering on other projects in the future," said Mr. Haris Rais, President of Rais & Company, owner of Ajman Residencia project. "Ajman has a growing real-estate market and we want to make sure we have the right partners onboard."

Ajman Residencia is a world-class development featuring well-appointed and spacious studios, 1 and 2 bedroom apartments - all equipped with premium fittings and excellent finishing. Other amenities include a car park, gym, health spa, pool, and 24-hour security. There are 500 units in total, starting from AED 520 per square foot.

"We are confident that the launch of Ajman Residencia will attract investors and home-buyers alike - the unique features and location is a major plus. To date, the properties we have launched in Humaid City have been extremely successful - most recently our share of Al Helio Downtown development sold out in just two months," said Mohammed Mirza, Sales Director for GREAT PROPERTIES.

Mirza also explained the detailed and careful branding GREAT PROPERTIES has created for Ajman Residencia to clearly and successfully communicate the property's features and specifications.

Ajman Residencia is the third development GREAT PROPERTIES has launched for Al Rashid Real Estate in Humaid City - a self-contained city featuring a mixture of residential and commercial complexes, as well as world-class medical, educational and shopping facilities. Situated on Emirates Road, it is only a 20 minute drive from Dubailand, and allows for easy access to Sharjah, Dubai International Airports, as well as to Ajman's new International Airport once completed.

GREAT PROPERTIES is currently managing over AED 2 billion in investments in Ajman, establishing GREAT PROPERTIES as one of the leading real estate agencies in the emirate with unrivalled expertise and insights into Ajman's growing real-estate market.

-Ends-

Dubai-based GREAT PROPERTIES provides expert real estate services on behalf of a wide spectrum of developers, investors and end users. The agency was created to help developers and investors sell or lease their holdings to businesses, homebuyers and tenants. Services offered by GREAT PROPERTIES include: sales and after-sales services, marketing, leasing, facility management, investment consultation and market research. GREAT PROPERTIES is currently working on several projects throughout the UAE, and the company expects to open offices in Saudi Arabia and other Gulf countries.

For more information, please contact:
Impact Porter Novelli
PO Box 19791
Dubai, United Arab Emirates
Contact: Nora Feidi, Senior Account Executive
Tel: 9714 3304030 Ext: 431
Fax: 9714 3304031
E-mail: n.feidi@ipn.ae

© Press Release 2008