Pay for land in cash, build whenever you want

If you are ready to pay the land price in cash, then you can own a freehold plot of land in Ajman and build your dream home whenever you desire. Park Properties, an Ajman-based master developer, is selling freehold land plots with title deeds, allowing them to build their own townhouses or villas as and when they want, Mohamed Samier El Khashab, head of development, Park Properties, told Emirates 24|7 . Plots for townhouses in Park Town project are being sold starting from Dh150,000, while villa plots can be purchased starting from Dh250,000. “This is a new concept we have introduced… here you own a freehold plot where you can build a townhouse or villa when you desire. But, they need to pay the land price in cash,” El Khashab said. “These days it is difficult to get home mortgages for off-plan properties… by becoming the owner of the land, one can build as and when he has money.” In total, the project will have 320 houses - 180 townhouses and 140 villas. The plots will be handed over in the next six months and the title deed within a week from the purchase. El Khashab said they expect approximately 1,200 people to reside in the community if all the plots are sold and built. “Although people will be concerned about the project, we will go ahead with it even if sell only 30 per cent of it.” The master developer will not restrict buyers from reselling the plots in the secondary market. “We don’t wan speculators in the project… but we will not stop investors from selling the plots in the secondary market if they want to,” El Khashab said. The master developer expects to complete the preliminary infrastructure work in the next six months and does assure Federal Electricity & Water Authority connection will be given to all the houses in the project.