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Date: 02/10/2007

Ajman Holding plans huge real estate development

Dubai: Ajman Holding, a diversified group of companies, plans to invest more than Dh1.5 billion over the next five years in real estate projects, hotel, malls and other infrastructure related businesses in Ajman, through its real estate arm,

" has already set its eyes on a large real estate residential and commercial project, a shopping mall and a five-star hotel," a company statement said.

The companys signature development will be The Boulevard, comprising 14 residential and commercial towers, a five-star business hotel and a mall with top brands from around the world, as well as over 2,000 basement and podium parking spaces.

Construction on The Boulevard, located on Emirates Road, is expected to start soon, with phase one scheduled for completion in the second quarter of 2009. "With real estate prices more affordable than in any other emirate, Ajman is attracting both individual as well as corporate investors from around the globe. Ajman offers market access to over 1.8 billion consumers throughout Asia and Africa with a market capitalisation of over $1.4 trillion," said Shaikh Abdul Aziz Bin Humaid Al Nuaimi, chairman of Ajman Holding.

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