Sino wins Ajman 1 package
Ajman developer, Aqaar, has awarded the US $382 million (AED1.4 billion) main construction package for its Ajman 1 project to UAE-based Sino Construction Group.
Ajman developer, Aqaar, has awarded the US $382 million (AED1.4 billion) main construction package for its Ajman 1 project to UAE-based Sino Construction Group. The contract involves the construction of a mixed-use residential, commercial and hospitality complex.
Rami Dabbas, CEO, Aqaar, has said that this project will be a catalyst in terms of developing the emirate, and will lead to the creation of quality residential and commercial projects.
Phase one of the 72,000m² project, to be completed by early 2010, will have 12 freehold residential towers forming the core of the development.
"The residential offering targets the mid-range segment and prices are highly competitive. The residents will be able to utilize ongoing services including 24 hour security and full maintenance," said Dabbas.
The Ajman 1 community can take advantage of the retail area, which will house a supermarket, restaurants and a community centre complete with men's and women's gyms, indoor and outdoor playgrounds for children, and two swimming pools.
The development will house a world-class hotel with serviced apartments and a convention centre, which will be managed by an international operator. There will also be three other freehold commercial towers, making a total of 16 towers in all.
"The industry has witnessed not only remarkable growth, but also an increasing demand for quality projects," said Dabbas. "We want to ensure that balanced progress is sustained by implementing our strategy methodically, and align ourselves with companies that are professionals in the field of construction."