By Christopher Sell
Ajman Marina aimed at transforming emirate into commercial and residential seaside haven.
Ajman on Tuesday unveiled a $3 billion real estate project aimed at transforming the UAE emirate into a commercial and residential seaside haven.
Ajman Marina is being developed by Saudi-based property firm Tanmiyat and is expected to take five years to complete.
To be constructed in two phases along a 12-acre stretch of land near the Ajman Kempinski Hotel, the development when completed will provide residential accommodation for 21,000 people.
Ajman Marina will include residential and commercial buildings, a five-star hotel and a yacht club, as well as retail, leisure and dinning facilities.
Architecture firm HOK has been appointed master develop, while management advisory firm impaQta will carry out the feasibility studies on the different aspects of the project.
The Ajman Marina project was first announced in February this year.