By Andy Sambidge
Developer says first 200 units in Ajman Uptown will be completed in September
Developer Sweet Homes Holdings said on Tuesday that the first 200 units at its much-delayed Ajman Uptown real estate project would be completed in September.
The company has also assured Ajman's property regulator that infrastructure like electricity and water utilities will be completed at the same time.
The project will also see the handover of one residential building and the opening of commercial outlets like a supermarket to help attract more residents to invest in the development, it said in a statement.
Originally scheduled for completion by 2010, the $598m project is set to feature more than 1,500 villas as well as a range of community facilities.
The update of progress at Ajman Uptown was given during a tour of the site by a delegation from the Ajman Real Estate Regulatory Agency (ARRA) led by Yafea Eid Al Faraj, executive director.
According to Sweet Homes, the completion of 200 first stage units out of the 600 phase one villas "reflects the company's move to fast track development on the project".
"I am very pleased at the progress of the Ajman Uptown project, which will play a major pivotal role in the move to position Ajman as an ideal residential haven in the UAE," said Al Faraj.
"We look forward to the coming completion of this project and also expect it to live up to its promise of being a model residential and business community for Ajman. ARRA will continue to give its full support to investors and developers including Sweet Homes for the successful completion of this mega project."
Located in the heart of Ajman, the project measures four million sq ft and will offer two, three and four-bedroom townhouses and exclusively designed five-bedroom VIP villas.
The development will also include a school, a healthcare centre, a fire fighting station, two mosques, a health and recreation club, a swimming pool, markets, shopping mall, hotel and hotel apartments.
Fahad Sattar Dero, CEO, Sweet Homes, said: "The coming completion of the Ajman Uptown project demonstrates our steadfast commitment in creating an ideal community that can help position the emirate as a key destination point for the UAE and the rest of the region.
"Rest assured that the rapid pace of construction of the first 200 units gives us the confidence that we will be able to meet out handover deadline by the end of 2012."
What kind of environment with the residents of the 200 units being living in? A construction zone? Will there be landscaping completed by September? Will there be finished off roads to enter and exit?
Will the electricity be from generators at some ridiculous price?
Press releases, commitments, promises didn't realize as of date.
Nobody nows when this will happen. ARRA being regulator to property must intervene and play its vital role to safeguard the interest of long awaited investors.
Furthermore, the developer must compensate the investments made 100%.