Sheikh Rashid bin Humaid witnesses Al Zorah, DAMAC agreement for AED 3bln Ajman project

Résumé détaillé

Ajman and Dubai, UAE; Al Zorah Development Company, in the presence of Sheikh Rashid bin Humaid Al Nuaimi, Chairman, has signed a land acquisition agreement with DAMAC Properties…

Ajman and Dubai, UAE; Al Zorah Development Company, in the presence of Sheikh Rashid bin Humaid Al Nuaimi, Chairman, has signed a land acquisition agreement with DAMAC Properties to develop a mixed-use waterfront residential project in Ajman valued at AED 3 billion.

Al Zorah Development Company is a joint venture between the Government of Ajman and Solidere International.

The project marks the beginning of broader, long-term investments by DAMAC in Al Zorah, supporting its continued growth as an integrated coastal community.

The agreement was signed by George Saad, CEO of Al Zorah Development Company, and Amira Sajwani, Managing Director of DAMAC Properties, in the presence of senior executives from both companies.

Sheikh Rashid bin Humaid said the agreement with DAMAC Properties reflects growing confidence among leading developers in Ajman’s investment potential and Al Zorah’s long-term vision. He added that, in line with Ajman Vision 2030, efforts remain focused on attracting investments that support economic growth, enhance quality of life and strengthen the emirate’s appeal as a destination to live, visit and invest.

Sheikh Rashid said Al Zorah plays an important role in achieving this ambition, adding that strategic partnerships such as this will support its continued development as a distinctive coastal destination and create sustainable value for Ajman.

George Saad, CEO of Al Zorah Development Company, said the partnership with DAMAC Properties marks another step in Al Zorah’s development journey. He said the proposed residential community will introduce a distinctive architectural and lifestyle concept to the waterfront, focusing on natural spaces, health and wellbeing, and the relationship between homes and their surroundings.

Amira Sajwani, Managing Director of DAMAC Properties, said: “The investment in Al Zorah represents an important step in DAMAC’s expansion across the UAE and reflects its confidence in Ajman’s long-term development plans.

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