Saudi-based Berjal Properties yesterday launched Berjal City, a Dh15 billion project in Ajman. The developer confirmed they got government assurance for supply of sufficient power.
"There is no shortage of water, but there is some worry about electricity. The government is already investing a lot in developing the infrastructure and we certainly are not going to face any problems," Yasser A Alnemer, General Manager, Berjal Properties, told
Emirates Business.
Asked if the firm will construct its own power stations, Alnemer said: "It is early to say anything. We have studied all the options and solutions are in place if required."
The project, which covers 30 million square feet of land, will have 123 plots for construction of residential and commercial towers, ranging between 19 and 60 floors. "Construction work on the project will commence in August and completion is expected in four to five years' time. The project has a freehold approval and about 60 per cent of the area has been earmarked for green hills and lakes," he said.
An estimated Dh400 billion-worth of projects have been launched in Ajman and several real estate developers have been selling freehold properties.
In March, the President His Highness Sheikh Khalifa bin Zayed Al Nahyan, Ruler of Abu Dhabi, ordered the allocation of Dh16bn to develop infrastructure in the Northern Emirates. The move was aimed at accelerating economic progress and the construction boom witnessed by all the emirates.
Ajman Municipality and Planning Department Director Mohammed bin Omair had announced earlier the launch of infrastructure projects worth Dh200m, which include planning of cities and road developments across the emirate. Sheikh Abdul Aziz Bin Humaid Al Nuaimi, Chairman, Ajman Holding had told
Emirates Business earlier that Ajman will pass a decree announcing freehold law in a month's time, with escrow account becoming mandatory for all developers.
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