Ajman:Al Zorah Development Company, with the presence of Sheikh Rashid bin Humaid Al Nuaimi, Chairman of the company, has entered into a significant land acquisition agreement with DAMAC Properties. This agreement aims to develop a mixed-use waterfront residential project in Ajman, valued at AED3 billion.
According to Wam, the Al Zorah Development Company is a joint venture between the Government of Ajman and Solidere International. The project signifies the commencement of broader, long-term investments by DAMAC in Al Zorah, bolstering its growth as an integrated coastal community.
The agreement was formalized by George Saad, CEO of Al Zorah Development Company, and Amira Sajwani, Managing Director of DAMAC Properties, in the presence of senior executives from both companies. The development is planned along the creek within Al Zorah, encompassing a total built-up area of approximately 1.4 million square feet. The initial phase, set to launch in the first quarter of 2027, will feature two residential towers with 421 units, covering a built-up area of about 333,218 square feet.
Sheikh Rashid bin Humaid highlighted that the collaboration with DAMAC Properties demonstrates increasing confidence among leading developers in Ajman's investment potential and aligns with Al Zorah's long-term vision. He emphasized that the project supports Ajman Vision 2030 by attracting investments that enhance economic growth, quality of life, and the emirate's appeal as a destination for living, visiting, and investing.
The residential units in the first phase will range from studios and one- and two-bedroom apartments to larger two- and three-bedroom loft residences. Designed as a tranquil neighborhood within Al Zorah's master plan, the project draws inspiration from Japanese principles of simplicity, serenity, and connection with nature, incorporating contemporary architecture, green spaces, and water features with views of the creek and mangroves.
George Saad stated that the partnership with DAMAC Properties is a pivotal step in Al Zorah's development journey, introducing a unique architectural and lifestyle concept focused on natural spaces, health, and well-being. Amira Sajwani remarked that the investment reflects DAMAC's confidence in Ajman's long-term development plans, aiming to enhance the emirate's economic and tourism assets.
The project will offer a variety of amenities such as swimming pools, landscaped gardens, yoga and fitness areas, children's facilities, and water-based leisure activities. Additional features include an open-air cinema, spa and wellness facilities, and a waterfront promenade, with potential partnerships being explored with lifestyle and dining brands. The development benefits from Al Zorah's existing infrastructure and will contribute to the growth of a vibrant residential community.
