Over this time, the emirate has also become the new focus of the realty sector, with a number of investors drawn to the emirate because of its attractive prices and proximity to Dubai, where property prices have skyrocketed.

Current prices of properties in Ajman amount to merely a third of similar developments in the richer emirate.
Another catalyst for growth has been the recent signing of a Dh7.34 billion ($1.99 billion) contract between Ajman’s government and Malaysia-based power producer Malaysian Mining Corporation (MMC) to build the first coal-fired power plant in the region.
The new power plant, which is expected to generate one gigawatt of electricity as early as 2012, will ensure stability in the emirate’s power supply, and is fuelling enthusiasm and investment in the mega real estate projects that have been launched there recently. The plant, which is scheduled to be up and running in around three-and-a-half years, comes as part of government efforts to cope with increasing residential projects in the emirate.
Last May, Ajman saw the launch of Al Zorah, a master-planned community billed as the largest development to be launched to date in the emirate. The project is estimated to involve investments worth a whopping Dh220 billion ($60 billion).
Two months later, Al Barakah Group, the Dubai-based real estate group launched Ajman’s tallest tower as part of the Dh4 billion ($1.08 billion) Crest in its Marmooka City.
Other major developments that are taking shape in Ajman include the Dh3.5 billion ($952 million) Eye of Ajman, the Marmooka City, the Dh3 billion ($816 million) Ajman Uptown, the Dh2.7 billion ($734 million) Ajman One and the Dh2.6 billion ($707 million) Goldcrest Smart City.

Al Zorah
This massive development is said to be already going full steam ahead with infrastructure work on the five major roads reaching an advanced stage.
Al Zorah is being spearheaded by Al Zorah Development Company, a joint venture between the government of Ajman and Solidere International, one of the Mediterranean region’s largest and most successful masterplan developers. The company was launched to develop Al Zorah area into a world-class residential, tourism and investment destination.
“We are currently in the preliminary and detailed design stage and will be appointing the project’s major contractors in the coming months,” says Imad Dana, CEO of the Al Zorah Development Company.
The concept design stage of the development has been completed and the work for preliminary and detailed design stage is in progress, according to the developer.
Situated 25 minutes from Dubai International Airport, Al Zorah city aims to provide all the comforts and amenities of urban living with residences set in beachfront ‘villages’, adjacent to a commercial office district, a number of marinas, championship golf course, entertainment destinations, hotels, hospitals and schools.
The city will be supplied power by the first coal-driven power plant in the UAE, which is being built in Ajman.
The first residential complex within the development – Al Zorah Riviera – was launched last month during Cityscape Dubai, the international property investment and development exhibition.
Designed by Axel Schultes, the world-renowned German architect, Al Zorah Riviera will reflect outstanding design elements and the natural ambience of Al Zorah city. It will be strategically located near the white sandy beaches of Ajman next to the Down Town district of the city, also known as the Balad, offering direct access to the beach, old town fort and the marina.
The project comprises six towers offering 1,400 to 1,500 freehold units comprising studios, one-, two- and three- bedroom apartments in a mix of low and high-rise buildings ranging from 22 to 45 floors in height. The towers will be surrounded by five-star resort hotels, marinas as well as open public green spaces.
Al Zorah is designed to be a green and sustainable waterfront city with ‘green’ buildings that minimise energy expenditure during the various stages of the buildings’ lifecycle through its master planning, land use mix, urban design, natural construction materials, renewable electrical power sources, building design and other aspects.
“Al Zorah will be a sustainable city, adopting best practices in environment-friendly construction and living,” says Dana. “Developers will conform to the masterplan requiring them to leave the natural beauty of the project location unharmed and employ energy-efficient construction methods as well as materials.
“The city will also promote conservation and outdoor life by providing an integrated network of walkways, canals, waterways, bicycle paths and public transport facilities and jogging tracks. It will make Ajman the best place to live and work comfortably in close proximity to the major hubs and gateways in the UAE.”
Residences will be located in idyllic waterfront “villages” served by neighbourhood amenities. The maximum use of public squares and pedestrian areas will create a walking city, with cafes, retail and open spaces being a central part of community living. Cultural, entertainment and leisure facilities, including a championship golf course, an equestrian centre and five public marinas, are part of the masterplan.
Al Zorah will be a self-contained, master-planned community that reveals the international class know-how and the expertise of Solidere International as a leading city builder and internationally acclaimed place maker,” explains a spokesman for the developer. “The touch of Solidere brand will be reflected in all aspects of Al Zorah, from its mixed-use environment, the respect shown to the environment and protection of nature, wide use of pedestrian walkways, climate control, landscaping and streetscaping, and after-sale property management to maintain the quality of life. With such self-contained neighbourhoods closely connected to businesses and a city centre, the project aims to add a new way of life and a fresh dimension to the expanding international profile of Ajman, as well as that of the UAE.”
Solidere International is partly owned by Solidere, the Lebanese company for the development and reconstruction of Beirut Central District. The company is registered in Dubai International Financial Centre.
The Government of Ajman has granted free zone and freehold status to the project to facilitate investments and ownership. A new 8.5 km highway will link Al Zorah to the Emirates Road thus offering excellent connectivity to international airports and the neighbouring emirates.

Marmooka City
Ajman’s tallest tower was launched in July by Al Barakah Group as part of a Dh4 billion ($1.08 billion) development, The Crest, in its Marmooka City. The actual height of the tower, however, has not yet been revealed.
Known as the Burj Manara Ajman, or Lighthouse of Ajman in Arabic, this state-of-the-art, 90-storey tower will add an interesting vertical dimension to Ajman’s skyline
The multi-towered project, The Crest, has been designed to be the most exclusive and desirable address in the entire Marmooka development by Primatec International, which is also the project manager, and Adnan Saffarini, the lead architect. The entire project is scheduled for completion in 2012.
The Crest would offer free-hold residential, commercial and retail space along with modern leisure, lifestyle, well-being, entertainment and fine dining opportunities.
Commenting on Burj Manara Ajman and the Crest, Imran Khan, CEO of Al Barakah, says: “The Crest is Al Barakah’s most ambitious project till date and an iconic development in itself that gives Ajman its first ever tall tower. While Burj Manara Ajman adds a distinct advantage to the project, the other USP of the project is most certainly its location as the gateway to Marmooka City. Being the single largest project in the Marmooka City, the Crest has all desirable elements that will help it to position itself as hub of the self-sustained master development. These factors, along with a competitive pricing, add to the attractiveness of the project both as a high-return investment option and as a premium end-user destination.”
In addition to Manara Ajman, the 6-million-sq-ft development would include four other towers – Burj Royale, Burj Regal, Burj Monarch, and Burj Regent. The Burj Regent and the Burj Monarch will share a common podium that would incorporate diverse retail opportunities spread over an area of 1 million sq ft with a dedicated car-park for the retail section. The Burj Royale and the Burj Regal, each with a total built-up area of 888,276 sq ft, are mixed-use projects that will be connected to the entire complex by a walkway. Burj Monarch and Burj Regent are purely residential towers, – each with a built-up area of 851,190 sq ft including a multi-tiered parking space.
Marmooka City offers residential and commercial development set among lush gardens and lakes. The city will include a shopping district, five-star hotels, mosques, hospitals and schools.
Located in the heart of Emirates Road, next to Emirates City, Marmooka City will involve the construction of more than 200 residential and office towers set amongst lush gardens and lakes. Set for completion in 2010, it consists of mixed-use plots for residential and commercial buildings of 14 and 25 floors, a shopping district mall, five-star hotels, mosques, recreation area, educational and medical facilities
 
Eye of Ajman
Earthworks have commenced on the Dh3.5 billion ($954 million) Eye of Ajman, a mixed-use development, which is being developed by Bonyan International Investment Group, one of the leading real estate companies in Dubai.
The earthworks contract was awarded to RAM Road Contracting and is in line with Bonyan’s commitment to develop the complete infrastructure within the project by 2010.
The project is described as New Ajman’s first accessible freehold development, off Emirates Road.
“Ajman is an emirate that is developing at a fast rate, with upgrades on basic utilities and services actively being undertaken by the government, which is being recognised by global and regional developers, investors and end-users,” says Anas Atatreh, vice chairman of the board, Bonyan International Investment Group. “Through the ‘Eye of Ajman’, we are in a position to offer the best investment opportunities to customers who can acquire plots on a 100 per cent freehold basis through attractive payment terms.”
Bonyan has already attracted investors such as Falcon Eye, a UAE-based real estate developer, which is investing Dh1.5 billion in a commercial and residential development known as Ajman Gate at the main entrance of the ‘Eye of Ajman’. Falcon is supported by Estate 400, a full service consultancy, marketing, sales brokerage and after sales management firm, in this venture.
The project on prime property will comprise two towers, which will have connecting cabling work between them creating a gate-like structure that overlooks the entire master development.
Each tower will have a total built-up area of 872,500 sq ft, with over 2,400 units and office modules with an equal amount of parking bays. The entire project is scheduled for completion within the next four years.
Ajman Gate’s architect, designer and engineering consultant is Adnan Saffarini, one of the leading engineering consulting companies in the region whose track record includes a number of prestigious high-rise projects in Dubai, including the 64-storey Big Pin Tower along Sheikh Zayed Road, the 64-storey Khalid Al Attar Tower, the 54-storey Damas Tower, and the 106-storey Princess Tower in Dubailand.

Ajman One
Aqaar Properties launched Phase Two of the Dh2.7 billion Ajman One, its maiden project and a premier residential, commercial and hospitality complex in Ajman, at Cityscape Dubai last month.
Construction work on this phase, comprising an integrated commercial and hospitality complex valued at Dh1.7 billion, is already in progress, according to the developer. It will consist of three freehold office towers, a convention centre, and a four-star business hotel with serviced apartments.
Ajman One, which will cover 72,000 sq m, was the recipient of the ‘Best Ajman Development’ award at the recent Arabian Property Awards 2008. The development aims to set a new trend for contemporary design, addressing all needs of a modern lifestyle.
Phase One, which started last year and will be completed in three years time, will have 12 freehold residential towers forming the core of the development.
Phase Two is strategically located in the heart of the Ajman One business district. It is also minutes away from Dubai International Airport, Sharjah International Airport and four world-class ports.
The three commercial towers, called Apex Business Towers, will house 640 offices, showcasing state-of-the-art meeting rooms and facilities, cutting-edge equipment and wi-fi hotspots. Their construction will bring the number of towers being built on the site to 16.
With Towers One and Three reaching 27 levels and Tower Two with 26 floors, a variety of office sizes and floor plans are available. There are six floors of undercover parking with over 1,000 individual spaces.
The Ajman One Convention Centre is designed to be the first of its kind in the emirate and will be a key venue for meetings and events. It provides a full range of meeting spaces, from small rooms to an auditorium, as well as foyer areas and additional spaces that can be adapted for use as an exhibition space or pre-dinner function venue. The centre will also offer a vast array of entertainment and cultural activities for the community.
The Ajman One Hotel is expected to set the benchmark for the hospitality industry in Ajman, offering highly-personalised service. Both hotel rooms and serviced apartment options are available to guests. The hotel is designed in a fresh architectural style and offers striking views of the coastline, with beach access just a short walk away.
As the first commercial hub of its kind in Ajman, Ajman One – Phase Two will attract ready investors and businesses as well as stimulating the local economy by generating jobs for the local workforce, according to Aqaar Properties.

Ajman Uptown
Sweet Homes, a leading UAE-based developer and multi-service provider to the real estate sector is developing the Dh3 billion Ajman Uptown, a massive community development comprising seven commercial and residential towers, a hotel and hotel apartments, and villas and townhouses.
Spanning over 4 million sq ft, Ajman Uptown consists of 1,504 (ground plus two levels) villas and townhouses, and seven four-storey buildings, which will offer two-, three- and four-bedroom townhouses and exclusively-designed five-bedroom VIP villas.
The project’s outstanding design takes inspiration from classic French architecture and carries the overall theme ‘L’ Art De Vivre’.
The project also features two office towers – Freesia and Gardenia – and five mixed-use luxury towers – Heliconia, Jatropha, Iris, Kentia and Ludisia – which will incorporate technology-driven features and facilities.
As part of its efforts to maximise the current boom in recreational and hospitality facilities in Ajman, Sweet Homes has also recently announced plans to develop a Dh600 million ($163 million) hotel and serviced apartment complex within Ajman Uptown.
The developer is currently negotiating with leading hotel operators for the management of the five-star hotel and luxury residential complex, which will further boost the emirate’s repute as an emerging real estate and tourism destination.