Solidere International Launches U.A.E. Mixed-Use Project
- Jun 09, 2008
Solidere International announced it will build a $63 billion mixed-use development, Al Zorah, in Ajman, United Arab Emirates. Al Zorah (pictured) will be a self-contained, master-planned city, containing residences, offices, retail, schools, hospitals, a championship golf course, marinas and five-star resort hotels. The development will cover approximately seven square miles. Of the area to be developed, residential buildings will make up 52 percent; offices will make up 22 percent; retail will make up 8 percent; and warehouse storage and infrastructure the final 7 percent. Other amenities include a retail mall; an equestrian center; jogging and horse trek tracks; hospitals and other healthcare facilities; public transportation facilities; and three schools The new development will have an expected population of 200,000, according to a statement from Solidere, and will be developed by the Al Zorah Development Co., a joint venture between the government of Ajman and Solidere International. The development will be located 25 miles from Dubai International Airport, and ten minutes away from Sharjah International Airport. The master plan will also have preservation of the natural environment as a focus. The area includes 30 species of mangroves, more than 20 species of birds, coastal fish and sand dunes. Another major real estate development was announced in Ajman on Sunday. According to the ArabianBusiness.com Website, Sheik Humaid bin Rashid Al Nuaimi, ruler of Ajman, signed an agreement with developer Ajman Oasis to build a city, to be named. The $3.5 billion project will include a shopping mall, hotels, mixed-use towers, a hospital and school. The project is expected to take approximately 10 years to complete. And, on June 4, U.A.E. real estate developer Gr8 Real Estate said it will build a 30-floor residential tower in Ajman. The tower will include studios, as well as one- and two-bedroom units.