Plus Properties acquires $80m worth prime property in Al Zorah City, Ajman

According to the terms of the agreement, which was signed by Plus Properties and Solidere International, Plus Properties has acquired prime plots which will be developed to comprise landmark real estate projects.

'We are very excited to be a part of Ajman's phenomenal growth,' said Georges Chehwane, CEO of Plus Properties. 'Statistics recently released by the Ajman Chamber of Commerce and Industry have revealed that the emirate's annual investment growth rate stands at an average of 6.7%. Ajman's strategic location, its great scenic beauty and easy availability of key raw materials have made it a superb location for investment.'

'We are also privileged to have this fantastic opportunity to work with the Government of Ajman and Solidere International, a company that is renowned throughout the region for its professionalism and dynamic forward-thinking. With the backing of reputed organizations such as these, we are confident that our project will meet with immense success. In a bid to offer our customers world-class facilities and amenities, we will be working with reputed engineering companies who adhere to international standards of quality, during the development of our projects.'

Set along 12 square kilometers on Ajman's coastline, Al Zorah City will be an integrated project comprising of residential buildings, office towers, chalets on the sea, hotels and tourist resorts.

Commenting on future plans of Plus Properties, Georges Chehwane confirmed that its projects - Wave Residence and Pixel located in Madinat El Arab-Waterfront, and Sky Garden Tower in Al Reem Island, Abu Dhabi have met with great success and are completely sold out.

Chehwane also announced that the company will be embarking upon prestigious new projects in the UAE, details of which are to be unveiled at the Abu Dhabi Cityscape Exhibition beginning on May 13th. The company will also be shortly announcing landmark projects in Lebanon and Jordan.