Al Zorah, the master-planned Dh220 billion ($60 billion) coastal development launched in Ajman earlier this month, announced pre-sales of around Dh10 billion ($2.7 billion) at Cityscape Abu Dhabi, representing the first wave of sales for phase one of the project.

The overwhelming interest in the project from the Al Zorah Development Company, a joint venture between the government of Ajman and Solidere International Limited, came during the two week pre-launch sales process which ended on May 7.

Investment has been secured from regions including Asia, Europe, the Indian sub-continent and the GCC, said a top company official on Thursday.

“Al Zorah is a truly spectacular project that is in line with the vision of Sheikh Humaid bin Rashid Al Noaimi, UAE supreme council member and Ajman ruler, to further enhance the emirate’s reputation as a destination for high-value investment,” said Al Zohra Development Company chairman Sheikh Rashid Bin Humaid Al Nuaimi.
 
'The project is an initiative launched by Sheikh Humaid, who has the vision to transform Ajman’s coastline into a world class residential, business and leisure community,' he noted.

Nasser Chammaa, chairman and CEO of Solidere International said that Al Zorah had already captured the imagination of international investors as a sustainable residential, business and leisure community spread over a vast expanse of 12 sq km.

“Al Zorah has arrived at the right time, from the right place. The level of interest in the project shows investors are excited about the concept and master-plan for this new mixed-use urban community of around 200,000 people.'

'Al Zorah presents a unique opportunity and is a project that will benefit from Solidere’s city-making development approach, as well as Ajman’s business friendly policies and varied innovations,' he added.

Mounib Hammoud, COO of Solidere International said, 'The success of our pre-sales is the strongest endorsement for the project. Al Zorah will be a unique accomplishment that embodies Ajman’s vision for the future and Solidere International’s capabilities.”
 
A special ground-breaking ceremony at the Al Zorah site was held recently in the presence of Sheikh Humaid, Sheikh Ammar bin Humaid Al Nuaimi, crown prince of Ajman, Sheikh Rashid and Chammaa.

”Al Zorah will be a sustainable city in all respects, adopting best practices in eco-friendly construction and living,” said Imad Dana, CEO of the Al Zorah Development Company.

'Developers will conform to the master plan requiring them to leave the natural beauty of the project location unharmed and employ energy-efficient construction methods as well as materials,' he observed.

“The city will also promote conservation and outdoor life by providing an integrated network of walkways, canals, waterways, bicycle paths and public transport facilities, jogging tracks and equestrian centre. It will make Ajman the best place to live and work comfortably in close proximity to the major hubs and gateways in the UAE,” Dana added. 

Located along Ajman’s pristine beachfront and creeks, Al Zorah will build on the emirate’s natural beauty, tradition, openness and culture of innovation to transform Ajman into a world class residential, tourism and investment destination.

The city will be self-contained with varied residences, offices, retail, schools, hotels, hospitals and leisure facilities including a championship golf course, marinas and a number of 5-star resort hotels. 

Construction will be restricted to 235,000,000 sq ft with the remaining expanse reserved for beaches, green spaces, and open squares, an approach that will provide over 60 per cent of the total land area for public spaces.-TradeArabia News Service