Ajman real estate sector witnesses major boom

The real estate sector of the Northern Emirates industry is witnessing a major boom with property projects worth more than Dh300 billion scheduled for completion by 2011. There is a rise in major hotel projects in Northern Emirates is due to a drastic increase in the number of tourists visiting Sharjah, Ajman, Umm Al Quwain, Ras Al Khaimah and Fujairah and is expected to reach more than 5 million a year.

Ajman has announced major tourism infrastructure projects earlier in the year totaling Dh5.55 billion including Ajman Museum and Heritage village. Due to rise in real estate developments in the emirate, Ajman government has allocated Dh1.38 billion to develop infrastructure. A major development in the emirate is the Dh3 billion Ajman Marina spread over 14 million sq ft.

Al Zorah is another major master development in Ajman. Real estate project worth Dh50 billion, it will cover an area of 10 million sq m on the Ajman coast. The development will also be connected to Dubai via Emirates Road, a separate access to which is being built.

Source: GoWealthy

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