Ajman outshines other emirates on foreign direct investments

Attributing the economic success now notched by the emirate to the all-encompassing plan adopted by the government there, economic analysts estimated Ajman's annual investment growth rate at an average of 6.7%.

"The rapid economic growth witnessed by Ajman comes as a natural result of the distinguished services and incentives provided by the government to draw in foreign investments," said Engineer Azad Nouri, General Manager of Ajman Marina project.

"Ajman is only second to Dubai in adopting the free-hold status, a law by virtue of which a large number of investors from inside and outside the country have been descending on the emirate to launch major projects and enjoy the mouth-watering incentives facilitating issuance of licenses, feasibility studies and statistics of interest to businessmen and developers," he added.

The culturally rich emirate is one of the oldest in inviting foreign investment expertise, while offering freehold status, a practice in which it was later followed by other emirates.

Nouri singled out the emirate's high-profile presence in overseas gatherings as a likewise effective tool to merchandise the emirate's business potential abroad.

"The Investment drive in Ajman enjoys full legal and legislative protection with laws being constantly updated for the common benefit of investors. These laws augur very well for the future of Ajman where different investment projects, especially that of Ajman Marina, will reflect very positively on the real estate and tourist market".

"Ajman marina will see the emirate transforming itself into an impressive commercial and residential seaside haven. The project gives the emirate a competitive advantage and is expected to create an attractive residential and commercial climate there," he added.

With waterfront living as its hallmark, the Ajman Marina, sprawling over a space of 240,000 sqm, is designed to be a luxurious retreat, complete with residential and commercial buildings and office spaces, a five-star hotel, international food chains, sea view cafes, a signature yacht club, an extensive shopping mall and various ancillary entertainment and leisure facilities.

Last year, Ajman launched urban developments worth Dhs580 in addition to Dhs174m worth of maintenance services together with infrastructure projects, the latest of which is a sanitary water treatment plant worth Dhs800.