Sweet Homes, a leading real estate developer and multifunctional real estate provider operating in the UAE, has announced the launch of a new project in Ajman with a total value of US $ 33 billion, of which more than US $ 545 million is planned to be invested in 2008.
According to the latest statistics from the Chamber of Commerce of the Emirate of Ajman, the growing popularity of Ajman developers among investors is the result of a sharp increase in foreign investment (FDI) in the emirate ... In implementing this project, the developer aims to attract large investments in Ajman, which will further increase the emirate’s real estate sector ... The annual growth of foreign investment by 6.7% allows the emirate of Ajman, whose share of foreign investment is 33%, to outstrip total emirates, where this figure does not exceed 11%.
In addition to this, expatriates and citizens of the emirate are likely to be attracted by low real estate prices, compared to rapidly soaring in Dubai and Abu Dhabi. Like most private developers who create residential real estate targeted at buyers with low and medium purchasing power, Sweet Homes positions Ajman as an ideal place for investment in order to get the most benefit from ongoing projects. "Having achieved good results in 2007, the emirate intends to take a leading position in the tourism, residential and investment sectors," said Fahad Sattar Dero, CEO of Sweet Homes Group.
"The measures taken by the state to create an investment-friendly business climate have allowed us to discover the potential in building facilities that satisfy investor demand for residential and commercial real estate. Ajman is definitely in line with our expectations, and now we are in the process of creating the highest level projects in the emirate "
The government of Ajman created a special department for a settlement that has been growing steadily since 2004 in the real estate sector. Using the experience of Dubai, today the Ajman Office for Development and Investment legislatively secured the full right to own real estate (freehold) and put into circulation escrow accounts.
In order to attract more attention to this project from local, regional and global developers, the government of the emirate of Ajman plans to allocate US $ 158 million for the development of the city, US $ 47 million to support services and infrastructure projects, US $ 218 million for water sanitation project.
The emirate’s progress in infrastructure development, improving roads, quality service, introducing modern telecommunications, increasing the number of ports and expanding the free zone has attracted the attention of the investment elite and highly specialized specialists in one of the outstanding projects of Ajman Uptown.
Ideally located "city in the city", worth US $ 683 million, adjacent directly to the main highway of the country Emirates Road, and located near Emirates City, will include 1504 three-story villas and cottages, as well as seven five-story buildings, total area of 1 million square meters. meters.
Payments under a unique flexible four-year system should also attract the attention of investors.
“The investment boom in Ajman has full legal and legislative support through ongoing legislative review for the benefit of investors and developers. Infrastructure transformation creates a positive image of Ajman, which is an important condition in our vision of Ajman Uptown as a first-class residential and commercial area,” concluded Dero.
Today, Sweet Homes projects are an integral part of the rapidly growing real estate market in the emirates of Dubai, Ajman and Ras Al Khaimah.
The developer has extensive experience in the areas of developing and concluding contracts, trade, marketing, selling and managing prestigious property in the UAE in the real estate market. Thanks to professional and efficient service, the use of high innovative technologies, Sweet Homes has earned a respectable name.
Sweet Homes is currently preparing to announce the launch of a project for commercial and residential buildings. The construction of seven five-story buildings has already been officially announced. All buildings will be created using the technology of "smart" house, which includes all the necessary security systems: motion sensors, security cameras, send an alarm when absolutely necessary via SMS, as well as additional features: video communications, home control via mobile phone and the Internet , digital key, etc.
