Tameer announces key agreement with Umm Al Quwain Government

Under the agreement, land proprietary can be registered in the name of beneficiaries of UAE and GCC nationals in the Modern Emirates Industrial Area. The step had been implemented after Tameer submitted a bank guarantee in favor of the Land Department in Umm Al-Quwain to ensure complete development of the infrastructure within the industrial project. The significant agreement will play a major role in safeguarding the investor's ownership in the major project.

Commenting on the agreement, Omar Ayesh, CEO, Tameer said: "We, at Tameer, express our gratitude and appreciation to the Umm Al-Quwain Government for this positive step. Such policies will definitely aid the development of investment opportunities within the Emirate of Umm Al-Quwain. The agreement also reflects Tameer's commitment towards clients, providing them with all guarantees and services. We have already started addressing the landlords to start the registration procedures."

The Modern Emirates Industrial Project is regarded as one of Tameer's masterpieces, with the concept based on developing a commercial, industrial and residential city with vast streets and integral services. Located parallel to the Emirates Highway, the project grants comfortable entry into different Emirates, with the industrial city between 25 and 50 minutes from Ajman, Sharjah and Dubai.

The Modern Emirates Industrial Area also has been designed to allow the construction of commercial shops - mezzanine and two levels and facilities for industrial purposes at the rear (warehouses and labor accommodation).

The total cost of setting up the infrastructure at the industrial city amounted to 150 million Dirhams and the project has been undertaken by "Wade Adams" & "Darweesh Engineering Contractors". The first stage is expected to end within eight months and all project-related works are planned to be completed within eighteen months. The industrial city will cover an area of approximately 80 million square ft.

During Cityscape 2004, Tameer had announced that the plots of the Modern Emirates Industrial Area had been completely sold out to buyers interested in establishing industrial, residential and commercial projects.

The real estate firm has also undertaken a number of projects in the Emirate of Sharjah, including the Princess Tower and the Prince Tower. The Prince Tower will be constructed on a 21,500 square ft. plot and is situated in a breathtaking location, facing Al-Qasbaa Canal & the Al-Khan Lagoon. According to real estate professionals in the Emirate, these projects are expected to portray a qualitative leap in Sharjah's real estate sector.