Solidere International Takes Ajman’s Al Zorah to MIPIM Asia

Solidere International, one of the most prominent master and urban developers in the region, will bring its unique development initiatives to MIPIM Asia, the international property exhibition taking place at the Hong Kong International Convention & Exhibition Centre from November 19th to 21st.

MIPIM Asia provides an exclusive platform for local developers to network with regional and international investors looking for opportunities in the Asia-Pacific market.

The centrepiece of Solidere International’s presence at MIPIM Asia will be its ambitious US$60 billion, master planned coastal city, Al Zorah, being developed in Ajman, United Arab Emirates. The master developer’s current portfolio also includes Westown Cairo and Eastown Cairo, the two city centres under development in Cairo, Egypt; revival of Jeddah Central District (Saudi Arabia) and its waterfront as well as varied projects in Riyadh (Saudi Arabia), Turkey, Portugal and Montenegro.

The master developer, hailed as the ‘artisan of living cities’, has also been shortlisted for the ‘Urbanisation en mer’ real estate project in Monaco, following a partnership with ‘VINCI’, the leading French construction firm.

Al Zorah is the largest project launched to date in Ajman and brings the city making skills of Solidere International, famous for its reconstruction of Beirut City Centre, to this newest real estate and investor destination in the Arabian Gulf. One of the seven emirates that make up the United Arab Emirates, Ajman is 20 minutes drive from Dubai International Airport, and boasts a long coastline of pristine beaches, wetlands and rich marine flora and fauna. Recently, Al Zorah Riviera, the first residential project in the city has been announced at Cityscape Dubai.

“Al Zorah is a transformational initiative that embodies the vision of His Highness Sheikh Humaid bin Rashid Al Nuaimi, UAE Supreme Council Member and Ruler of Ajman to further enhance Ajman’s reputation as a destination for high-value investment,” said Sheikh Rashid Bin Humaid Al Nuaimi, Chairman of the Al Zorah Development Company.

Dr Nasser Chammaa, Chairman and CEO of Solidere International said that MIPIM Asia will be a unique opportunity to connect with investors and highlight the significant progress achieved in the project in less than six months of its launch.

“The concept design stage is complete, construction work of the five major roads has reached an advanced stage, and now we are in the preliminary and detailed design stage,” said Dr Chammaa.

Ajman is already developing its utilities and infrastructure to meet anticipated growth and offer a sustainable and high quality residential and business environment, said Imad Dana, CEO of Al Zorah Development Company. “The first coal-driven power plant in the UAE will go on stream in Ajman in the coming three years, supplying Al Zorah city as well as other projects in Ajman,” he added.

Senior officials and representatives of Solidere International will be present at MIPIM Asia Stand No: 1-G26/J25, Hall No. 1, Level 2, 1 Expo Drive, Wanchai to provide details of projects and respond to enquiries.

Facts and Figures
– Al Zorah will be developed by the Al Zorah Development Company, a joint
venture between the Government of Ajman and Solidere International
– Solidere International is a subsidiary of Solidere, the Lebanese
Company responsible for the development and reconstruction of Beirut
City Centre
– Solidere International and the Government of Ajman are 50:50 owners in
Al Zorah
– Al Zorah is a freehold, 12 sq km mixed use development on the northern
coast of Ajman
– Located just 25 minutes away from Dubai International Airport, and 10
minutes away from Sharjah International Airport
– The master plan is focused on the preservation of the natural
environment which includes, 30 species of mangroves, more than 20
species of birds, other wildlife, countless coastal fish, trees and
sand dunes

Amenities

– Sixteen kilometres of sandy white beaches and waterside walks
– An 18-hole championship golf course and club house
– Five public marinas, with private marinas adjacent of residential
communities, 20 kilometers of canals and waterways
– 5-star resort hotels
– Retail mall of 200,000 square meters
– Equestrian Centre
– Jogging and horse trekking tracks
– Hospitals and other community healthcare facilities
– Three schools, offering American, French and Indian curriculum
– Public transport facilities

About Al Zorah Development (Private) Company P.S.C.

The Al Zorah Development (Private) Company P.S.C. is a joint venture between the government of Ajman and Solidere International. It was incorporated on October 31, 2007 as a Free Zone Company under the laws of Ajman, United Arab Emirates. Its objective is to carry out all business relevant to the development of the Al Zorah area, as well as acquire land and property and then market, manage and lease these for the Company or other parties, including real estate brokerage services. The company’s capital is AED4 billion,

About Solidere

Solidere, the Lebanese Company for the Development and Reconstruction of Beirut Central District, is a joint stock company formed in 1994 to spearhead the reconstruction and development of Beirut city centre and its restoration to its famed beauty and architectural marvel. Solidere was capitalized by bringing together property rightholders and cash investors. Over the years the company has established a track record and a unique interdisciplinary team with practical experience in urban planning, real estate development, property management and marketing of large scale developments, including public utilities.

About Solidere International

Solidere International, partly owned by Solidere, is registered in Dubai International Financial Centre. Other shareholders in the company include individual and institutional investors from the Middle East and Europe as well as international funds. Drawing on Solidere’s 15-year expertise in urban planning, project consultancy and management, Solidere International offers a complete package that includes master planning, financing, marketing and management for developers and planners in the region and beyond.