A property developer is planning to further expand its interest in the Ajman real estate market by building an AED 600 million hotel and serviced apartments project.
Sweet Homes is already working on a seven-tower commercial and residential project in Ajman, which is part of the United Arab Emirates (UAE).
The new project, a five-star hotel and luxury residence project, will take the company’s recent investment in the area to close to AED 3 billion.
Sweet Homes is behind the ‘Ajman Uptown’ flagship project in the Emirate, involving mixed use buildings and associated infrastructure.
Company chief executive Fahad Sattar Dero said: “We are proud to have brought the first freehold villa and residential community to Ajman, and now we have taken our commitment to the emirate’s development to the next level through the launch of a world class hotel and serviced apartments complex.”
Services apartments in the project will be up for sale fully furnished and will involve a total built up area of 548,716 sq ft.
A total of 264 studios and 72-one bedroom apartments will make up the development, Sweet Homes added.
Ajman Uptown overall will offer up a multitude of opportunities to buy investment property, with 1,504 villas and townhouses and seven high rise buildings under construction.