Sunday, April 19, 2015

Ajman Mega Project Al Zorah Going Strong

* Premier lifestyle project by Solidere International begins to take shape as phase one of the development comes to life

* Contract for final stage of infrastructure works valued at AED 115 million awarded

Ajman’s premier waterfront and organically connected lifestyle development project, Al Zorah has invested over AED 500 million in infrastructure, with the awarding of an AED 115 million contract for the final stage of Phase 1 infrastructure works. With the initial stages of infrastructure development already completed, the new contract to AIMS Group covers the rest of the road and utility networks to support all Phase one components of the premiere destination. The work is scheduled for completion in the fourth quarter of this year.

Located along the breathtaking natural peninsula on the coastline of Ajman, the flagship project of Al Zorah Development Company is spread over an area of 5.4 million sqm. Set apart from other destinations by its exotic setting of natural mangroves and seafront, Al Zorah blends the best of nature with the finest in modern amenities to create refined places for life. A freehold development encompassing 12 kms of waterfront, 1.6 kms of sandy beaches and a 700,000 sqm golf course, Al Zorah is slowly rising up from the ground to create unprecedented communal living at its best.

The first phase of the AED 2 billion development will welcome its first residents later this year. The key components that will provide a refreshing and vibrant lifestyle for residents and visitors include: a Beach Resort operated by Oberoi, a Beach Resort operated by Lux, an 18-hole Golf Course by Nicklaus Design, 42 premium residential villas on the golf course, serviced residential apartments, and The Pavilion, Al Zorah’s sales center.

The Phase 1 infrastructure works included the design, earthworks, work on four marinas that can accommodate over 200 boats, the 18-hole championship golf course, highway linking Sheikh Mohammed bin Zayed Road to Al Zorah, the entire road and utility network, bridge, and water edge protection across 3.5 km of waterfront.

Imad Dana, Chief Executive Officer of Al Zorah Development Company, said: “The foundations of the success of any property development project spread over such a large area like Al Zorah, is dependent on the connectivity of its individual components.

“We are committed to the comforts of our future residents right from the start and we are ensuring that the entire project is geared to provide a holistic lifestyle from day one when people move in. Al Zorah is all about creating that special value for our investors and we can see that vision coming to life already.”

The development is all set to energize Ajman bringing in a truly world-class lifestyle destination that will enhance the Emirate’s competitiveness and development.

++About Al Zorah Development Company:

The Al Zorah Development (Private) Company P.S.C marks the partnership between the Government of Ajman and Solidere International and is a Free Zone Company under the laws of Ajman, UAE. The company’s aim is to develop Al Zorah as a distinctive tourist and lifestyle destination.

++About Solidere International:

Solidere International (SI) is a master developer, a real estate developer, a development manager and a property manager. SI is a limited company registered in Dubai International Financial Center. Solidere sal of Lebanon is its founding shareholder. The Company’s shareholders include individual and institutional investors from the Middle East, Europe as well as international funds. SI draws on the extensive and mature expertise of Solidere sal to develop unique quality and professionally managed projects covering a broad array of properties from mixed-use communities to individual building in select markets, known as ‘Places for Life.’ Solidere International’s in-house expertise covers the full development value chain of property development from business planning, master planning, financing, construction management, marketing, sales and property management services. Solidere International is rapidly growing to become a premier regional and international property developer and development manager. The company is currently active in developing its own residential and mixed-use projects in Saudi Arabia, UAE, Lebanon and strengthening its presence in promising international markets.

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