Monday, July 21, 2008

Major projects announced in Awali City of Ajman

Awali City in Ajman
Awali Real Estate Investment has announced the launch of four towers worth Dh.1.2bn within Dh.20bn Awali City in Ajman.

The first among these is the Mashrabia Residence, a 25-storey twin tower residential project with a total of 800 apartments. The residence will spread across 14,965 square feet of space on each floor. It will include amenities such as the health club, swimming pool, retail space and parking amenities. The prices begin with Dh.575 per square foot, and an additional Dh.3 per floor.

The Chevron commercial towers will include 25-storey towers each, spreading across 15000 square feet of office space on each floor. It will house 304 offices in each tower, with amenities such as health club, gymnasium, and retail space. The prices begin at Dh.650 per square foot with additional Dh.3 being charged per floor.

The projects are due for completion by 2011.

The Dh.65mn worth design and engineering contract for 15 residential and commercial towers in Awali City has been handed over to Adnan Saffarini Engineering Consultants. The towers include 11 towers of 32 storey each, which makes the northern and southern gates of the city, and four 50-storey buildings, which form the entrance to Awali City from Emirates Road.

According to Mohammed Al Nemer, the Chief Marketing Officer, Awali Real Estate, Awali City is the first among a series of projects to be launched in Awali this year. The demand for real estate has grown considerably in Ajman, during the last couple of years, which has encourage developers to launch several mega projects in the emirate to fill-up the supply-demand gap.

Moreover, the Ajman government has developed a sound infrastructure system and reformed its laws to ensure complete transparency and accessibility of the real estate market, he added.

Awali City is a Dh.20bn development in Ajman along the Emirates Road, and is developed on 33million square feet of land. It will include 136 plots of land meant for residential and commercial use. It will include a range of towers, varying from 17 to 50 storeys, and will accommodate 120,000 people.

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