Tuesday, August 05, 2008

Ajman invests Dh1.4bn in developing infrastructure projects

Ajman has infrastructure projects worth Dh.1.4bn that are currently under construction, so as to support the sky-rocketing pace of real estate developments within the emirate. Ajman is the third largest property market in UAE, next to Dubai and Abu Dhabi.

Ajman has six mega projects that are underway, which makes up to a combined value of Dh.40.8bn. This accounts for a total of 10 percent of all projects that are currently happening in the UAE.

The projects in Dubai, account for 50 percent of the construction activities taking place in UAE, while Abu Dhabi contributes to 30 percent of the activities in UAE.

Ajman is currently involved in enhancing its road and sewerage treatment plants. A solid infrastructure program with Dh.500mn being allocated for infrastructure alone, and Dh.800mn towards launch of sewerage system, has been one of the most important infrastructure projects in the emirate.

As the investors were hesitant over investing in Ajman due to lack of water, electricity and road networks, and the government in Ajman has given top priority to this sector and is making serious efforts to implement good infrastructure networks and attract more investors.

An agreement to build the first coal-fired power plant in UAE, worth $2bn, was signed by H.H. Shaikh Humaid Bin Rashid Al Nuaimi, the Member of Supreme Council and Ruler of Ajman, and Ernest Nevaratnam, the Head of Investment and Projects, Malaysian Mining Corporation.

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