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.

About Ajman Real Estate on Arabian Business

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