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Dh1 billion Ajman Marina is on schedule

ajman - Marsa Ajman features one of the region's largest dancing fountains

The Ajman Marina project is progressing as per schedule with the completion of the first phase, Marsa Ajman, in October this year at an investment of Dh379 million, said a top executive.   

"The Dh1 billion development will be the centre of attraction and promote tourism, retail and hospitality sectors in the emirate. It has 5 phases to be completed by 2022," Faisal Al Nuaimi, CEO of Marsa Properties, told Khaleej Times during an interview on Wednesday.

Marsa Properties was established in 2016 to develop new areas within Ajman and create new destinations to attract a mix of people to live, work and entertain. Its prime focus is to invest in real estate and commercial projects to develop an infrastructure to promote tourism and business activities in the emirate.

Al Nuaimi said the master development is built on an area spanning 10,500 square metres (sqm). It is a mixed-use development comprising residential buildings, entertainment, commercial towers and a hotel.

"We have completed the first phase by investing Dh200 million on land and Dh170 million on infrastructure development. It comprises 52 mixed-use units with 60 per cent of the total area allocated to restaurants and cafes while the remaining 40 per cent is open for retail, entertainment, health and fitness," he said.

He said commercial units are available for lease in 3 categories. "First-category unit sizes range from 120sqm to 220sqm on the ground floor; second-category units start from 180sqm and go up to 240sqm on the first floor; and third-category kiosks are limited to 10sqm."

Explaining the unique selling point of Marsa Ajman, Al Nuaimi  said the project features one of the region's largest dancing fountains. In addition, space has been reserved for seasonal festivals and carnivals or exhibitions in an open-air area.

He said the development has a strategic location in the centre of the emirate and within easy approach to Sharjah and Umm Al Quwain. "It is also linked to the project where plenty of space is available for visitors to park their yachts. There is also a 7-km-long walking track," he said.

Tourism promotion
In close proximity to Dubai, Sharjah and Umm Al Quwain, Ajman is fast emerging as a tourism destination. A host of developments and hotel openings, retail expansion and a wide selection of new indoor and outdoor activities are helping to put the emirate on the tourism map.

"The project will bring an added value to Ajman. It is strategically located in the Corniche area where most 5-star hotels are present. We are expecting on average 3 million visitors annually," Al Nuaimi said.

Marsa Ajman is Marsa Properties' first project. "We are confident of creating job opportunities in addition to attracting foreign investment to the emirate," he said.

He said the Ajman government has developed a very conducive business environment and it extends all-out support to investors to promote the sectors of real estate, tourism and hospitality.

"The Ajman government is supporting the real estate business. Good quality, affordable prices and excellent infrastructure will promote Ajman and it will become a preferred distention for both investors and tourists in the near future," Al Nuaimi concluded.

- muzaffarrizvi@khaleejtimes.com