Ajman One, a fully-integrated mixed-use development, will be completed on schedule, Aqaar LLC, developer of the project, said. The initial phase of the development, which is the residential component of the project, has completed 30 per cent, and handover of the units to investors will take place in the first quarter of 2011. Ten of the 12 residential towers of the Dh2.7 billion have already been completely sold out. Comprising 72,000 square metres, the complex consists of residential, business and hotel facilities. “We aimed from the beginning to build a long-term strategy, based on three key elements: professionalism, by partnering with reputable contractors; sustainability, by developing self–funded projects; and pro-activity, by offering a unique and flexible payment scheme which can meet our clients’ needs under any circumstances.
Despite the current tough situation, our investors, who are mostly end-users, can look forward to receiving their keys without any hassles. This strongly demonstrates our forward-thinking values and strategic plans are well in place,” said Rami Dabbas, CEO of Aqaar. Aqaar is one of the first developers to register with Ajman Real Estate Regulatory Agency, or ARRA. It is also one of the first developers to sign an agreement with the Abu Dhabi Commercial Bank for a major financial package. Under the terms of the deal, the bank has provided a fixed term loan of Dh600 million. “Our clients are our key assets and we value a long, fruitful relationship with them. Aqaar has offered different flexible solutions based on the clients’ specific individual needs,” Dabbas said.
