At the time of printing, Ajman-based real estate and property development firm Aqaar was expected to appoint the contract for enabling works on the Ajman 1 project by the end of January. The main contractor for the project is due to be appointed by the end of March 2007.
The company will work with the Ajman Development and Investment Authority (ADIA) to support the Emirate’s move into the tourism and business markets. Super-structure construction of the first phase of the 72,000m2 project is due to begin in the latter half of 2007.
Rami Dabbas, COO of Aqaar and head of real estate development at ADIA commented: “We are negotiating with several international contractors for all aspects of construction on Ajman 1. Plans are on track for work to begin on phase one of Ajman 1.
“We are concentrating on making sure that a solid foundation is in place so that construction will remain on course and progress methodically so that everything can be delivered on time.”
Phase one will include 12 freehold residential towers that will form the core of the development. It is scheduled to complete by 2009.
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