Plus Properties, a leading real estate developer in the Middle East, has acquired $80 million worth prime property in the flourishing emirate of Ajman by way of a deal with Al Zorah, an Ajman-based company jointly owned by the Government of Ajman and Solidere International. 

According to the terms of the agreement, which was signed by Plus Properties and Solidere International, Plus Properties has acquired prime plots which will be developed to comprise landmark real estate projects.

“We are very excited to be a part of Ajman’s phenomenal growth,” said CEO of Plus Properties Georges Chehwane.

“Statistics recently released by the Ajman Chamber of Commerce and Industry have revealed that the emirate’s annual investment growth rate stands at an average of 6.7 per cent. Ajman’s strategic location, its great scenic beauty and easy availability of key raw materials have made it a superb location for investment.”

Set along 12 square kilometres on Ajman’s coastline, Al Zorah City will be an integrated project comprising of residential buildings, office towers, chalets on the sea, hotels and tourist resorts.

Commenting on future plans of Plus Properties, Chehwane confirmed that its projects – Wave Residence and Pixel located in Madinat El Arab-Waterfront, and Sky Garden Tower in Al Reem Island, Abu Dhabi - have met with great success and are completely sold out.

Chehwane also announced that the company will be embarking upon prestigious new projects in the UAE, details of which are to be unveiled at the Abu Dhabi Cityscape Exhibition beginning on May 13.  The company will also be shortly announcing landmark projects in Lebanon and Jordan. – TradeArabia News Service