Crescent Towers launch set to raise the bar in Ajman's real estate landscape

Crescent Towers, a luxurious residential project by Al Jabal Holdings, has officially been launched.

The project, located in Ajman's Marmooka City, comprises of three residential 18 storey towers designed by Adnan Saffarini Engineering Consultants- one of the oldest and most distinguished architectural firms in the UAE.

The Crescent Towers is Al Jabal Real Estate's debut development, which today promises to be one of the best investment opportunities in the booming UAE real estate market. Due for completion in October 2011, each floor will have nine spacious apartments ranging from studios to one bedroom, two bedrooms, and three bedrooms.

Set in the rapidly developing city of Ajman, on the 12 lane Emirates Road highway connecting Ajman to Dubai, the Crescent Towers is a short distance from one of the most unique coastlines in the UAE, with the crystalline waters of the Arabian Sea. The government of Ajman envisions the city as an international tourist destination & business hub. Within Ajman, Marmooka City in particular has captivated the attention of home seekers due to its unique master plan and amenities.

'We have chosen Marmooka City as the location for Crescent Towers due to its ambitious design and fantastic location, a mere 25 minutes from Dubai,' says Saeed Ali Currimjee, Managing Director of Al Jabal Real Estate. He further adds, 'Marmooka City is developing its own city within a city with shopping malls, schools, mosques, lush gardens at very affordable prices, which perhaps is the most lucrative investment potential in the real estate market today.'

The architectural design of Crescent Towers is awarded to Adnan Saffarini Eng. Consultants famous for designing Princess Tower at the Dubai Marina among many other projects they have undertaken.

For The Crescent Towers, Adnan Saffarini Eng.Consultants have chosen to blend traditional and contemporary designs with tasteful soft earthy colors to produce a highly appealing façade. Being the master designer for Marmooka City as well, Adnan Safarini Eng. Consultants have a great feel for the surrounding area.

'The apartments will make the best use of natural light, reflecting Crescent Towers' environmentally friendly approach to providing a green living environment. Residents will have access to several world class features, including a temperature-controlled rooftop pool, state of the art gym and ample covered parking,' explains Ahmad Saffarini CEO of Adnan Saffarini Eng. Consultants.

The Crescent Towers will certainly be one of the most admired developments in the Marmooka City offering spacious, tranquil and refined living.

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BSEL welcomes Ajman new real estate law

UAE-based BSEL Infrastructure Realty today said that the new decree number 7 & 8 issued by His Highness Shaikh Humaid bin Rashid Al Nuaimi, Member of the Supreme Council and Ruler of Ajman is a welcome move.

“The new decree will bring in to force many regulations that are beneficial to the buyers, investors, developers and the Emirate as a whole. The decree will create a solid frame work for the real estate sector in Ajman and allow all stakeholders to come on the same page,” said Christina Cabading, President, BSEL Infrastructure Realty FZE.

“The rulings will have a profound impact on the development of Ajman considering that it empowers the Department of Land and Property for certain regulations, it notifies inheritance law, bank guarantees, freezing of 5% of the project value, maintenance responsibilities and also penalties for real estate businesses operating without a valid license,” she added.

BSEL Infrastructure Realty FZE, UAE, has acquired seven plots approximating 7.9 million sq. ft. in Ajman, Main Emirates City, UAE. BSEL will be building a cluster of seven towers, namely, Pearl, Fayrooz, Kahraman, Almas, Emerald, Sapphire and Ruby. Construction of Pearl, Fayrooz, Kahraman, and Almas has already started.

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Ajman issues new realty law

Ajman: A new property law is set to boost Ajman's real estate sector which has witnessed solid growth over the last few months.

His Highness Shaikh Humaid Bin Rashid Al Nuaimi, Member of the Sup-reme Council and Ruler of Ajman, last week issued Amiri Decree No 7 and 8, 2008, to regulate the emirate's land and properties sector.

Billions of dollars are being pumped into the emirate's property sector, where prices have jumped from Dh350 per square foot to nearly Dh500 during the last six months, as investors scramble for a piece of Ajman's growing housing sector.

The decree comprises 34 articles that legalise freehold ownership of land and property for UAE and GCC citizens and companies wholly owned by them as well as to the public stock companies.

Non-GCC developers and buyers can also own freehold land and property in designated areas that are to be determined and approved by the Ajman Ruler. Foreign investors have snapped up land on both sides of Emirates Road to build master-planned projects in Ajman.

"Apart from GCC nationals, other expatriates could obtain property on a freehold as well as 50-year leasehold basis which is renewable in areas designated by the Ruler," the law says.

The law empowers the Department of Land and Property to regulate the sector, survey areas, approve the land map and the fees for the services provided by the department and register all properties.

The Lands Department is solely assigned to register property rights and long-term leasing contracts.

"The inheritance notification must be registered with the property register, in case heirs have property rights within their inheritance. And no dealings will be admitted unless registered," it said.

Bank guarantees must be deposited for those who wish to invest in Ajman and that money must be used only for the project itself.

"An amount of five per cent of the project value will be frozen and will not be released until completion of construction of the project," it stipulates.

The law states that a developer may not advertise projects without written approval from the department.

The developers will be responsible for maintaining the project for 10 years following handover.

A fine of Dh100,000 will be imposed on those who practice real estate business in the emirate without a licence.

At a glance: 24 projects on track

Ajman One, Ajman uptown, Al Mamouqa City, Al Itihad Village, Green City, Ajman Boulevard, Emirates City, Al Hamidia City, Al Ameera Village, Al Emirat Lagoon, Ajman Eye City, Humaid City, Aqaar, Park Avenue, Al Awali City, Down Town, Shabil, Falcon Towers, Ajman Pearl, Creek Towers, Ajman Marina, Al Nuaimi Towers, Free Zone Marina, Al Zorah.

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Sweet Homes eying a larger share of 120 billion Ajman real estate sector

Sweet Homes, a leading UAE-based developer and multi-service provider to the real estate sector, has announced that it will be launching a host of projects within the AED 120 billion Ajman real estate market, as part of its AED 2 billion investment plan for 2008. According to the most recent statistics released by the Ajman Chamber of Commerce & Industry, the growing popularity of Ajman-based developments among global investors has resulted in the boom in the emirate’s Foreign Direct Investment (FDI), which has exceeded the rest of the other emirates’ by 300 per cent. Through the launch of its new projects, the developer is aiming to attract greater investment into Ajman, which will further boost the real estate sector within the emirate.

Ajman has eclipsed the other emirates in terms of attracting foreign investments into the country, with foreigners now owning 33 per cent of development projects established in the booming city compared to 11 per cent in the other emirates, thereby elevating Ajman's annual investment growth rate to an average of 6.7 per cent. In addition, expatriates and GCC nationals are also being drawn to the relatively lower prices of properties in the emirate compared to the skyrocketing costs of investments in Dubai and Abu Dhabi. As more private developers are being encouraged to launch residential properties aimed at low- to middle-income end-users, especially in the Emirates City along the Emirates Road, Sweet Homes has identified Ajman as an ideal location for a large percentage of its future projects.

“There is a strong possibility that Ajman will be able to replicate the success it has witnessed during 2007 due to its intense focus to become a leading tourist, residential and investment destination,” said Fahad Sattar Dero, CEO, Sweet Homes Group. “Amidst the government’s massive initiative to develop an investor-friendly business climate that is attracting stakeholders from all over the world, we have recognised the potential in providing a community development that addresses investor’s requirements for residential and commercial built space. Ajman definitely lives up to our expectations, and we are currently on the process of developing more high profile projects in the emirate.”

A special department has been set up by the Government of Ajman to regulate the booming real estate sector, which has been steadily growing since 2004. At present, freehold and escrow account laws in addition to STRATA regulations similar to those adopted in Dubai, are being drafted by the new Ajman Development and Investments Authority. Moreover, urban development projects worth AED 580 million, investments into maintenance services and infrastructure projects amounting to AED 174 million, and an AED 800 million sanitary water treatment project, were recently undertaken by the government in efforts to attract more local, regional and global developers and investors.

As one of the most prominent developments in Ajman, the ‘Ajman Uptown’ project has attracted elite investors and high profile developers due to its outstanding concept and offerings, which match the emirate's strides in infrastructure, roads, service improvements, telecommunications, ports and free zone development. The AED 2.5 billion residential township is the first freehold villa and townhouse community in Ajman, which will comprise a total of 1,504 G+2 villas and townhouses and 7 G+4 buildings spread over 4 million square feet of land that is directly accessible from the Emirates Road and adjacent to Emirates City. In addition to its ideal location, the development is also catching the attention of investors due to its unique flexible four-year self-financed payment scheme.

“The investment boom in Ajman enjoys complete legal and legislative protection with laws being constantly updated for the benefit of investors and developers. By reflecting a very positive image through its massive infrastructural transformation, Ajman’s development as an emirate complements the vision we have for Ajman Uptown as a premier commercial and residential community,” concluded Dero.

Fully committed to delivering results, Sweet Homes’ diversified business activities have played an integral part in the growth of the real estate market in Dubai, Ajman and Ras Al-Khaimah. The developer has acquired extensive experience in the fields of general engineering and contracting, trading, real estate brokerage, marketing, selling and managing prestigious properties in the UAE. Through its widespread network of real estate contacts, Sweet Homes has built a name based on its professional and efficient services, in addition to its reliance on highly innovative technologies.

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Ajman to build $3.54bn city

The UAE emirate of Ajman plans to build a 13 billion-dirham ($3.54 billion) city stretched out over 3.72 square kilometres, state news agency Wam reported on Sunday.

Sheikh Humaid bin Rashid Al Nuaimi, ruler of Ajman has signed an agreement with developer Ajman Oasis to build the city, which will include a shopping mall, hotels, mixed-use towers, hospital, school and other amenities.

The project, which will be located between Ajman and Sharjah in the Al-Tallah area along Emirates Road, is expected to take 10 years to complete.

Ajman Oasis has commenced work on the design phase, Wam said.

Ajman Oasis is a joint venture between Dubai Investments Real Estate Co. and Aqaar Properties focused on developing projects in the emirate.

The company was established in October last year.

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Lake Signature launched by GR8 Real Esate at Emirates City, Ajman

Gr8 Real Estate, a leading player in the real estate market and member company of the Gr8 Group, today announced the launch of ‘Lake Signature', a project located at Emirates Lake Towers, an extension of Emirates City in Ajman.


The project will be a G+ 30 floors and will offer a selection of studios, 1 and 2 bedroom units with 100% ownership and UAE residence visa.

Commenting on the same, Mr Syed Rehan Bin Warris Gillani, Director, Gr8 Holdings said, "Our success lies in the belief in putting our customers at the centre of our business which makes them successful and in turn ensures our success. Our vast experience in the handling of sales of properties, management of properties, leasing and brokerage has earned us the trust and respect of the industry professionals and our client base."

Lake Signature will offer spectacular views as it is situated on the banks of the lake. Some of the other salient features of this modern residential tower include:

• 24 residential floors

• G + 5 Podium Parking

• Exclusive Lobby

• Provision for activities like billiards, Table Tennis, Gymnasium, Jacuzzi, Sauna Room, Ladies Aerobic Hall, Swimming Pool (kids separate)

• Wireless Internet

• Guest Room

• 24 Hours security


Notes and contacts

About Gr8 Real Estate

Gr8 Holding is a member company of Gr8 Group, who has significant presence in various industries since the last 30 years. Some of them being, Gr8 Real Estate, Gr8 Building Material LLC, Guardian Real Estate (Pvt Ltd), Bridgeight Interior Designers, The Cube Event, Armour Protection Services and Capital Market.

Gr8 Real Estate established in 2004, has carved a niche for itself in the real estate sector in the UAE, handling sales of properties, property management, leasing and brokerage. With strong presence in UAE, Pakistan and USA, the group is continuously increasing the value of its portfolio through diversification and expansion, under an expert management.

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Smart City unveiled in Ajman, UAE

Goldcrest Properties, a member of the Giga Group and one of the leading real estate developers in the region, has unveiled Smart City project, Dh2 billion freehold residential development in Ajman, UAE. Smart City comprises of 8 luxury towers spread across a built-up area of 4.2 million sq ft along the Emirates Road

Amir Giga, MD, Goldcrest Properties, said, "Smart City will be a picture of inspiration, with environs which only enhance its value. We are confident that the quality of planning and attention to detail that we have employed in the execution of this project will be highly appreciated by the residents of this community, in terms of both function and aesthetics".

Smart City will offer over 3,500 luxury apartments comprising studios, 1 and 2-bedroom units. The Giga Group has come up with in-house interest-free financing options with flexible payment plans for the real estate development in Ajman.

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