"BRETT SIEGEL IS ONE OF THE MOST KNOWLEDGEABLE PEOPLE IN MIDDLE EAST REAL ESTATE. I HIGHLY RECOMMEND READING UAE MEGA PROJECTS." Khizer Schon Husain, VP, Schon Properties, Dubai

Monday, January 14, 2008

Ajman Marina

I continue to be very impressed with the Mega Projects being developed in Ajman. This Emirate is really starting to shine! As I noted in my earlier post about PKN Princess Resort, Ajman is in the midst of a real estate BOOM. Investors are plowing billions and billions of dollars into Ajman real estate projects, and for good reason...this Emirate has ENORMOUS potential! I feel that Ajman is very attractive for those wishing to invest in the Emirates. You can still get some great real estate deals, if you know what you are doing, that will appreciate greatly over the next 5 years and beyond.

One of the most important Ajman Mega Projects, and one of my favorites, is the Ajman Marina. The Saudi firm Tanmiyat is developing the Ajman Marina and it has been designed by HOK Planning Group. Total cost for the project is $3Billion with completion expected in 5 years. The plans I have seen of Ajman Marina look great!

According to Tanmiyat, Ajman Marina will contain:

- High and low rise Residential Towers,

- High and low rise Commercial Towers,

- District cooling plant,

- Educational areas,

- Civic areas, roads and infrastructure,

- Grand Mall and other retail areas,

- Iconic luxury hotel and furnished apartments,

- Boulevard: Food and beverage venues (high-end themed caf├ęs and restaurants); Surrounds the Marina area, accommodates more than 40 food and beverage outlets and more than 40,000 sqm of retail areas,

- A huge Green Park to make the marina a fully complete city including amenities for all family members. The green area will give marina residents a place to breathe and spend quality time with their children,

- The Yacht Club: A Marina platform that includes docking spaces and boat servicing facilities. Offers more than 300 berths to cater sports activities in the marina and provides a chance for companies to offer recreational activities and marine services in addition to a variety of water sports.

Here are some of the competitive advantages Tanmiyat sees for Ajman Marina:

- Strategic one-of-a-kind location in Ajman Waterfront Marina,

- Investment opportunity to all nationalities - Free Hold Regulations,

- Business opportunity - Free Zone Regulations,

- Proximity to major cities in UAE and especially to Dubai,

- Tourism friendly regulations - Luxurious Hotel Tourism Events, hosts, hospitality and leisure prospects,

- Mixed Used Project.

Here is a quote from Ajman Marina General Manager, Azad Nouri:

"Elite investors and realty developers have shown a keen interest to invest in the Ajman Marina due to its wide mixture of attributes, such as the huge size of the project, the fact that it is multi-use, and the reputation of Tanmiyat. The Ajman Marina is expected to have a very positive impact on the real estate, commercial and tourism sectors of the Emirate. The project includes a yacht club and residential towers that boast a view of the marina and the shores, in addition to restaurants, entertainment facilities, a large shopping mall, hotels and offices."

Now do you see why I like Ajman Marina so much? It is fantastic! As I said earlier Ajman is TAKING OFF! Great potential exists in Ajman. Potential that is swiftly being realized!

This link will give you pictures and photos of Ajman Marina as well as more information:

http://ajmanproperty.com/index-ajman-marina.htm

Here is the link to Tanmiyat:

http://www.tanmiyat.com/home.html

Here are three great articles about the Ajman real estate boom:

http://www.zawya.com/Story.cfm/sidZAWYA20071018135140

http://www.tradearabia.com/news/newsdetails.asp?Sn=CONS&artid=137083

http://www.tradearabia.com/news/newsdetails.asp?Sn=REAL&artid=137059

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