Al Zorah’s Phase One Projects On Schedule For Completion By End Of 2016‏

> Board Meeting chaired by HH Sheikh Rashid bin Humaid Al Nuaimi commends high-quality ongoing work

> Projects worth AED 1.7 billion to be executed before year-end

The Governing Board of Al Zorah Development Company, a joint partnership between the Government of Ajman and Solidere International, reviewed all current projects valued at over AED 1.7 billion, at a board meeting to discuss the development and the performance of the organization, held at The Pavilion at Al Zorah in Ajman.

Al Zorah is the flagship project of Solidere international in the UAE and owns and develops all the projects within the new community. The development will feature a unique gate at the entrance scheduled for completion in December 2016, making it a stand-out project in the Northern Emirates.

The meeting was presided over by His Highness Sheikh Rashid bin Humaid Al Nuaimi, Chairman of the Board of Directors of Al Zorah Development Company, who lauded senior management for the strong construction and development progress seen at Al Zorah.

Roads, infrastructure and landscape work are already complete at the development, which embraces an organic lifestyle, complete with pedestrian trails, two million square meters of natural mangroves, 1.6 km beach front and 12 km of waterfront. The infrastructure works has been valued at AED 500 million.

Marina 1, home to the first of four marinas, which was completed 2 years ago with a total fit out value of AED 110 million, will open 47 berths for 80 foot yachts, by Q4 2016. Marina 1 will include a park encompassing over 17 retail and F&B outlets and a water sports center which will host a variety of water sports within a sandy beach area, dedicated parking, lawn areas and play areas. Marina 1 Park is valued at AED 50 million.

Through the course of the meeting, the board also discussed signature projects under development, including the world-renowned Oberoi  whose construction and development value is AED 550 million, which will come to Ajman for the first time to operate a 5-star resort – The Oberoi, AL Zorah -  later this year. With 113 villas and suites, the Oberoi, Al Zorah is a prime example of a premium, sophisticated hospitality project that meets the development’s world-class standards.

The members of the board recognized the work being completed in Al Zorah’s Fairways district which features luxurious residences set around the Nicklaus Design 18-hole championship golf course which was built at AED 160 million, and was launched in December 2015. Residents will be ready to move into the first set of the Golf Villas located on the course by the end of summer 2016. The total value of the Golf Villas under construction is AED 350 million.

The Federal Electricity & Water Authority (FEWA) has already begun supplying power to all the projects and as each project comes to life it will be fully powered for operations.

In addition, senior management strategized on future plans for the further growth of golf courses which has already attracted much attention in the global golfing community.

H.H. Sheikh Rashid bin Humaid Al Nuaimi, Chairman of the Board of Directors, Al Zorah Development Company, said: “Al Zorah is one of the most ambitious projects in the UAE and it is a matter of great pride to see it finally coming to life. We are confident that our project will have a strong impact on Ajman and its economy and we are keen to fulfill our long term goal of providing a high-quality destination to both residents and visitors looking for something unique.”

Nasser Chammaa, Chairman of Solidere and Solidere International and a member of the Board of Directors, added: “At Solidere we bring deep knowledge and expertise in real estate construction to create refined and sophisticated ‘Places for Life.’ We are extremely proud of the headway being made at Al Zorah, Solidere International’s flagship project in the UAE. We have witnessed significant progress in construction activity and look forward to what the future holds.”