Aqaar Properties wins 'Best Ajman Development'

The full extent of this success will be revealed at a glittering gala dinner at the Madinat Jumeirah five-star hotel in Dubai on 19th October 2008.

"This is an achievement and reflects our combined efforts. Being awarded 'Best Ajman Development' proves that Aqaar is on the right track in achieving our vision, which is to spearhead the expansion of Ajman into a successful tourism and business hub," said His Highness Sheikh Rashid bin Humaid Al Nuaimi, Chairman, Municipality and Planning Department of Ajman.

"The award, which owes much to the direction Aqaar has taken under the leadership of His Highness Sheikh Ammar Bin Humaid Bin Rashid Al Nuaimi, Crown Prince of Ajman is even more valued because of the reputation we enjoy amongst our industry peers and partners. Aqaar is committed to exploring new development opportunities, in regions which demonstrate strong growth. To have such initiatives recognized is inspiring for all involved," he added.

Aqaar's maiden project is the Dhs2.7bn Ajman One which will cover 72,000 square metres. Ajman One will set a new trend for contemporary design, addressing all needs of a modern lifestyle. It is a one-stop destination, offering shopping, leisure, residential, business and hotel facilities within a single development.

Phase 1, which started last year and will be completed in three years time, will have 12 freehold residential towers forming the core of the development. The construction of Phase 2 has also commenced this year, which is valued at Dhs 1.7bn. It will consist of three office towers, a convention centre, and a 4-star business hotel with serviced apartments.

Two of the office towers in Phase 2 will have 27 storeys with the middle tower having 26. Their construction will bring the number of towers being built on the site to 16.

"Having been given such high recommendation by our peers, Aqaar intends to display the entitled CNBC Arabian Property Awards' logo with pride. This symbol of excellence is recognised and appreciated by the public, who are becoming increasingly well-informed and discerning regarding the properties they seek to invest in,"

said Mr. Rami Dabbas, CEO of Aqaar Properties LLC.

Entries to the CNBC Arabian Property Awards 2008 were judged by a panel of professionals whose collective knowledge of the property industry is second to none and unsurpassed by any other property awards.