Ajman to have Dh4.5bn mini-city
Ajman’s Manamah, one of the least developed townships of the country, is finally set for a facelift, which will bring job opportunities and improved living conditions to a population of 20,000 who previously had to look to other emirates for a living.
A glamourous Dh4.5 billion mini-city, called Princess Resort (pictured above), will be built around the town. Nestled in the foothills of the Hajar Mountain Range between Massafi and Al Dhaid on the north side of the Sharjah-Fujairah Highway, the town is surrounded by hills and valleys.
The mega project, 70km east of Ajman city, is being developed by Dubai-based PKN Group.
Designed to incorporate entertainment venues, palaces, lagoons, equestrian trails and even snow-capped towers, the resort comprises nearly 1,600 one- to three-bedroom apartments along with 100 exclusive villas and chalets and two five-star hotels with 488 rooms. Work has started and is scheduled to be completed by 2010.
To speed up the project, Group RCI, part of the Wyndham Worldwide group of companies in the United States, has announced an agreement with PKN Group to manage the vacation rental and exchange courses for the new resort. One of the main features of the agreement is the potential for prospective purchasers to generate rental income from short-term holiday rentals by marketing their property to a wide audience.
Owners will also have access to 4,000 resorts worldwide that are affiliated with the RCI vacation exchange network. Under the agreement, Group RCI will manage more than 500 residential units within the PKN holiday exchange programme.
Manamah residents have said they are looking forward to an economic boost from the new development.
Mohammed Murad, a resident and local celebrity for having fathered 78 children, said: “Manamah has been the least developed township with only 50 houses 60 years ago. Now it has almost 20,000 people. It has been growing but with little infrastructure and economic development. Almost every resident of the township works in other cities as the township has no job opportunities. With these kinds of projects coming in, Manamah is now all set to come on par with other big and prosperous cities.”
“There will also be opportunities for the residents to set up small businesses to cater to visitors and residents of Princess Resort,” he said.
Another resident, Saeed Abdullah Al Ma’azami, a retired employee of the UAE Armed Forces, said the construction would improve property values and signal an economic revival.
Follow Emirates 24|7 on Google News.