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Plans Take Shape for $4B Emirates Development

AJMAN-Plans are shaping up for the development of at least 25 towers at a cost of Dh15 billion ($4 billion).

By Anita Howarth | Updated on June 20, 2006

AJMAN-R Holdings has unveiled plans for the Dh15-billion ($4-billion) Emirates City development in Ajman. The town-sized development will be part of a number of projects in the emirate designed to expand its economic progress. The project consists of more than 25 towers and 72 residential and commercial properties and will offer residents a host of lakes and recreation parks, a shopping district, mosques, five star hotels and educational and medical facilities.

“Emirates City is one of several significant developments that are part of the ongoing maturity of the property sector in the UAE, which is enabling us to provide a world-class standard of living,” says Shaikh Rashid bin Humaid Al Nuaimi, chairman of the Ajman Municipality and Planning Department. “We envisage that this development, like all the major projects currently under development across the entire UAE, will continue to draw a large amount of international investors from across the world to this country and Ajman in particular.”

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