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Dubai: Construction of a $720 million 200-acre equestrian-themed residential community will begin in Ajman next month.
The Escape project will be located off Emirates Road, on the Ajman-Sharjah border and will offer villas, low-rise apartments, a 150-room hotel and a full range of equestrian and sports facilities. These include stables for 200 horses and the first equine spa in the region.
Anwar Sher, general manager of Escape, said, "Escape will offer a new and healthier kind of lifestyle. The community has been designed to provide residents with an abundance of nature, peaceful views and privacy not seen in other developments."
Sher estimated that construction cost alone will be $500 million, excluding the land which Escape already owns. The total cost stands at $720 million.
Eileen Verdieck, partner of Escape explained the reasons behind choosing Ajman. "It's difficult for people in Dubai to live a nice lifestyle with the traffic and everything.
"With this location being literally 20 minutes from Dubai airport, it's a wonderful alternative for people who maybe didn't think this kind of lifestyle was in their price range."
The hotel will be the first equestrian-themed hotel in the world. And Eileen Verdieck believes that HoofBeatz, a centre merging equestrian activities with traditional sports for the whole family will "change the way people are introduced to horses". Anwar Sher says, "Investors are always in a rush to sell. With Escape, the land is already paid for. Also, we've registered the land in the name of the company. This means we can be pretty patient with the sales process."
Villa prices will range from Dh1.7 million to Dh3.5 million. A two-bedroom apartment will start at around Dh685,000.
Construction is expected to start next month and Sher is confident that "by around September 2010, it should all come together."
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