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Dubai: Ajman's largest-ever real estate initiative, a Dh220 billion mixed-used freehold development was launched on Thursday by Al Zorah Development, a joint venture between the government of Ajman and Solidere International.
Located on the northern coast of Ajman, the venture is estimated to be able to support a resident and working population of 200,000, with residents making up about 85 per cent.
"The project will take five to seven years to be completed, with work starting in a few months," said Dr. Nasser Chammaa, chairman and chief executive, Solidere International.
It will be a self-contained community comprising residences, offices, retail, schools, clinics and leisure facilities including five marinas and a number of five star hotels and resorts.
Features
"Al Zorah combines both natural and urban environments in one; it is an ambitious project, intended to transform Ajman into one of the region's most sought-after places to live, work and play, in an urban environment that also ensures energy conservation and sustainability for future generations," Chammaa said.
An area of 12 square kilometres will be covered, with a built up area of 22 million square meters.
Residential buildings will make up 52 per cent of the built up area, offices 22 per cent, retail stores 11 per cent, hotels eight per cent, with warehousing, storage and infrastructure making up the remainder.
"The maximum limit on the high rise is 50 floors, with an average height of 10 storeys," Chammaa said.
Chammaa said the development company will only work on 30 per cent of the project, focusing on strategic buildings. For the rest of the 70 per cent, he said, "We are in discussion with international contractors and suppliers. Tenders are under discussion and we will take the best."
He added that the project has already attracted a 'huge number' in investments and that the cost of inflation has been factored into the overall estimates.
Officials refused to comment on sales price of plots, residences or offices, but they said the details will be announced soon.
Al Zorah will also house a retail mall spread out over 200,000 square meters, along with villages, golf course, parkway development, equestrian centre, hospitals and other community healthcare facilities and three schools.
It will also have large areas of water and green public spaces, as well as 20 kilometres of canals and waterways. There will be a total of 16 kilometres of sandy white beaches and waterside walks.
The whole development will be linked to the Emirates Road with a new 8.5-kilometre access road.
The project is focused to preserve the natural environment, with the buildings and infrastructure designed to be energy-efficient. Construction methods will cut energy use by up to 50 per cent, officials said, keeping Al Zorah's ecological footprint to a minimum.
The new city will encourage people to leave their cars at home with an integrated network of walkways, canals, waterways, bicycle paths and public transport facilities.
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