Al Jabal Holdings launches Crescent Towers in Ajman

Developer Al Jabal Holdings yesterday launched Crescent Towers in Ajman's Marmooka City. The project comprises three residential 18-storey towers, which have been designed by Adnan Saffarini Engineering Consultants. Due for completion in October 2011, each floor will have nine apartments ranging from studios to one bedroom, two bedrooms and three bedrooms.

"We have chosen Marmooka City for Crescent Towers due to its ambitious design and fantastic location, a mere 25 minutes from Dubai," said Saeed Ali Currimjee, Managing Director of Al Jabal Real Estate.

"Marmooka City is developing its own city within a city with shopping malls, schools, mosques and gardens at affordable prices, which perhaps is the most lucrative investment potential in the market today."

"The apartments will make the best use of natural light, reflecting Crescent Towers' environment-friendly approach to providing a green living environment. Residents will have access to several world-class features, including a temperature-controlled rooftop pool, state-of-the-art gym and ample covered parking," said Ahmad Saffarini, Chief Executive Officer, Adnan Saffarini Eng. Consultants, also the master designer for Marmooka City.

The founders of Al Jabal Real Estate are members of the family that owns Seven Seas Computers, an IT company in the UAE for more than 25 years and Currimjee Group, a 120-year-old business conglomerate spread across Africa and Asia. In the past 12 months, it has expanded to Abu Dhabi and Mauritius.

Further expansion is envisioned over the next 18 months. Al Jabal Real Estate established Al Jabal Holdings to venture into property development.

According to Ajman Chamber of Commerce and Industry report, the value of the real estate sector in the emirate, has risen to Dh120 billion. Foreigners now own 33 per cent of development projects established in the city compared to 11 per cent in other emirates, thereby elevating Ajman's annual investment growth rate to an average of 6.7 per cent.

The number

120bn: The value, in dirhams of the real estate sector in Ajman, according to the Ajman Chamber of Commerce and Industry report. Foreigners now own 33 per cent of the development projects in the city compared to 11 per cent in other emirates. This elevates Ajman's annual investment growth rate to 6.7 per cent.