Ajman's Aqaar awards $382mn construction deal

by Dylan Bowman Monday, 24 September 2007

Ajman real estate firm Aqaar has awarded UAE-based Sino Construction Group a 2.7 billion dirham ($382 million) contract to build the first phase of its Ajman 1 development, the company said on Monday.

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Ajman 1 will be a residential, commercial and hospitality complex consisting of 16 towers, a hotel, convention centre, and leisure and retail amenities located on the coast of the UAE emirate.
Sino will be responsible for constructing the 12 freehold residential towers that are to form the core of the $700 million development.

Phase one is expected to be completed by early 2010.



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