Al Zorah could be delayed

According to ArabianBusiness.com, development of the Al Zorah-project in Ajman could slow down and push back the city by two years. This could be a sign that the global financial crisis has hit one of the largest developments in the UAE, as investors could hesitate buying into the project.

A two-year delay in Al Zorah would mean that the entire city will be finished within 2025. The project was initially launced in May at an estimated cost of $60bn. The joint venture between Solidere International and the government of Ajman has recently acctracted numerous potential buyers, and UAERush.com will follow this project closely.  Sign up for our newsletter on top of this page to receive the latest real-estate news from the UAE.

Solidere to showcase Al Zorah on Arabia Expo

Solidere International, one of the most prominent master and urban developers in the region, will bring its unique development initiatives to Arabia Expo, the first Arab property exhibition organised in Moscow as part of reinforcing economic ties between Russia and the Arab world.

High level delegations from Russia and Arab countries, comprising ministers and senior executives, will attend the exhibition held from October 22nd to 24th at the Crocus Expo in Moscow. The exhibition aims to encourage joint investment projects and exchange of products and services between both sides.

Solidere International will showcase its ambitious AED220 billion master planned coastal city, Al Zorah, the largest project launched to date in Ajman, United Arab Emirates, at the Expo.

Soildere International’s current portfolio also includes Westown Cairo and Eastown Cairo, the two city centres under development in Cairo, Egypt; revival of Jeddah Central District (Saudi Arabia) and its waterfront as well as varied projects in Riyadh (Saudi Arabia), Turkey, Portugal and Montenegro. The master developer has also been shortlisted for the ‘Urbanisation en mer’ real estate project in Monaco, following a partnership with ‘VINCI’, the leading French construction firm.

All these projects will reflect Solidere International’s global and holistic approach towards urban planning and large scale development initiatives. Attention to details as well as high sensitivity towards achieving exceptional quality, elegance, finesse and sustainability are at the core of Solidere International’s reputation as a city and place maker. This unique development approach also sets apart Solidere International as an artisan of living cities with a high respect for land, environment and society.

Al Zorah brings the city making skills of Solidere International, famous for its reconstruction of Beirut City Centre, to the newest real estate and investor destination in the Arabian Gulf, Ajman. One of the seven emirates that make up the United Arab Emirates, Ajman is 20 minutes drive from Dubai International Airport, and boasts a long coastline of pristine beaches, wetlands and rich marine flora and fauna.

Recently, Solidere International announced the first residential project in Al Zorah at Cityscape Dubai. Named Al Zorah Riviera, the residences are located adjacent to Al Zorah’s Down Town District and overlook a long stretch of sandy beach.

“Al Zorah is a novel initiative that combines tradition and innovation to create a truly sustainable residential, business and leisure destination in the Middle East,”

said Sheikh Rashid Bin Humaid Al Nuaimi, Chairman of the Al Zorah Development Company.

“In line with the vision of His Highness Sheikh Humaid bin Rashid Al Nuaimi, UAE Supreme Council Member and Ruler of Ajman, the project aims to transform the emirate into a magnet for foreign investment,” Sheikh Rashid added.

Al Zorah will be a self-contained city comprising varied residences, offices, retail, schools, hospitals and leisure facilities including unspoilt beaches, a championship golf course, marinas and 5-star resort hotels. By the time it is complete in 2015, the city is expected to have a population of 200,000.

Dr Nasser Chammaa, Chairman and CEO of Solidere International said that Arabia Expo is a unique opportunity for Al Zorah to showcase the remarkable progress made on the project in less than six months as well as to engage with stakeholders.

“Al Zorah is going full steam ahead. The concept design is complete, construction work of the five major roads has reached an advanced stage, and now we are in the preliminary and detailed design stage,”

Dr Chammaa stated, adding that the first coal-driven power plant in the UAE will go on stream in Ajman in the coming three years, supplying Al Zorah city as well as other projects in Ajman.

Imad Dana, CEO of Al Zorah Development Company said that Al Zorah will adopt the best practices in environmentally friendly construction and living. “The natural beauty of the project location will be fully retained and the city will promote conservation and outdoor life by providing an integrated network of walkways, canals, bicycle paths and public transport facilities, jogging tracks and equestrian centre,” he added.

Senior officials and representatives of Solidere International will be present at Stand No: 38/ N8, Hall No: 10, at Arabia Expo to provide details of projects and respond to enquiries.

Facts and Figures

• Al Zorah will be developed by the Al Zorah Development Company, a joint venture between the government of Ajman and Solidere International
• Solidere International is a subsidiary of Solidere, the Lebanese Company responsible for the development and reconstruction of Beirut City Centre
• Solidere International and the government of Ajman are both 50 per cent shareholders in the Al Zorah Development Company
• Al Zorah Is a freehold AED 220 billion, 12 sq km mixed use development located on the northern coast of Ajman and is the biggest master plan in the emirate .
• The development will cover 12 square kilometers, with a built up area of 22 million square meters and large areas of water and green public spaces
• The self-contained, master-planned city will comprise varied residences, offices, retail, schools, clinics and leisure facilities including marinas, 5-star hotels and resorts
• Total population will be around 200,000, with residents making up about 85 per cent of this; Al Zorah will promote an environment for working and living
• Al Zorah will feature residential waterfront villages, low rise villa communities, apartments with some having direct indoor access to retail, office accommodation, a 200,000 square meter mall and 16 kilometers of sandy white beaches and waterside walks
• It will be linked to Emirates Road with a new 8.5 kilometers access road
• Located just 25 minutes away from Dubai International Airport, and 10 minutes away from Sharjah International Airport
• It is divided into several mixed use areas, including the city centre, resorts, villages, golf course, and parkway development
• The master plan is focused on the preservation of the natural environment which includes, 30 species of mangroves, more than 20 species of birds, other wildlife, countless coastal fish, trees and sand dunes
• The new city will encourage people to leave their cars at home with an integrated network of walkways, canals, waterways, bicycle paths and public transport facilities
• It incorporates environmentally-friendly design and energy-efficient infrastructure
• It will be a sustainable development, cutting energy use by up to 50 per cent
• The average height of the attractive mix of low and higher-rise buildings, will be 10 storeys
• Of the built up area, 52 per cent will be residential, offices 22 per cent, retail stores 11 per cent, hotels 8 per cent, with 7% warehousing, storage and infrastructure.

Amenities

• Sixteen kilometers of sandy white beaches and waterside walks
• An 18-hole championship golf course and club house
• Five public marinas, with private marinas adjacent of residential communities, 20 kilometers of canals and waterways
• 5-star resort hotels
• Retail mall of 200,000 square meters
• Equestrian Centre
• Jogging and horse trekking tracks
• Hospitals and other community healthcare facilities
• Three schools, offering American, French and Indian curriculum
• Public transport facilities