7 Days News
UAE, May 2: Ajman yesterday unveiled a real estate initiative - worth a staggering dhs220 billion - aimed at developing its coastline into a sustainable residential, business and leisure community. Named ‘Al Zorah’, the new city will be implemented by the Al Zorah Development Company, a joint venture set up between the government of Ajman and Lebanese developer Solidere International.
Al Zorah will be located along Ajman’s beachfront and creek, a statement said yesterday, and will be a self-contained, masterplanned city with residences, offices, retail, schools and hospitals. It will be 12 square kilometres in size, with a built-up area of 22 million square metres, and will have a total of 16 kilometres of beaches and waterside walks.
Leisure facilities will include marinas and a number of five-star resort hotels. “Ajman is entering a new chapter in its development,” said project company chairman Sheikh Rashid Bin Humaid Al Nuaimi. “Al Zorah is a truly spectacular project that will become an international destination.”
The city, which will house 200,000 residents and workers, has been designed to make the most of the surrounding natural environment and maximise green space. “It is an ambitious project, intended to transform Ajman into one of the region’s most sought after places to live, work and play, in an urban environment that also ensures energy conservation and sustainability for future generations,” said Nasser Chammaa, chairman and CEO of Solidere International.
A timeline for the project has not yet been specified.