Developers insist UAE real estate plan unaffected by downturn

ajman uptown UAE PRA flagship UAE real estate project should be finished on time despite “challenges” caused by global economic upheaval, developers have said. Sweet Homes delivered a progress report on the AED 3 billion ($817 million) Ajman Uptown scheme, saying construction was in full swing.

Executives said the aim was to step up a gear with the building of the project, in an effort improve investor confidence.

The huge real estate plan involves more than 1,500 villa and town house homes, and is the first community of its type to be built in Ajman.>

Sweet Homes chief executive Fahad Sattar Dero said: “Our efforts to intensify the construction progress of ‘Ajman Uptown’ is in line with our aims to bolster consumer confidence by assuring them that investments within this project are secure and have a high potential to yield attractive returns.”

First launched to investors last year, the real estate plan also involves commercial and residential towers and is one of a number of new homes projects which have recently upped interest in the emirate

Sweet Homes is also involved in building new property Dubai, and now holds a current real estate portfolio of AED 4.7 billion ($1.3 billion).

Scheduled to be finished at the end of 2010, owners of homes in the development will be close to the Arabian Gulf coast and will also get access to a purpose built school, health care centre, shops and health club.

Related posts:

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  2. Ajman sees Sweet real estate market boom
  3. Real estate investors turn heat on Dubai off plan homes
  4. Registration deadline set for Ajman property developers
  5. Dubai real estate development progress to be tracked online

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2 Responses to Developers insist UAE real estate plan unaffected by downturn

  1. Saeed Tasbihsazan says:

    Dear Editors,

    In regards to this article may I respectfully emphasize that the geographical location referred to as the “arabian gulf”, has been known to the entire civilized world for over 2 millennia only as the “Persian Gulf” and any other reference to the contrary is inaccurate.

    The following are links to the United Nations Geographical maps of the world and the Persian Gulf region. Please take time to view them and notice that the UN refers to this body of water as the Persian Gulf.

    Most importantly, the United Nations with 22 Arab member states has on two occasions officially declared the name of the waterway to the south of Iran as the Persian Gulf. The first announcement was made through the document UNAD, 311/Qen on March 5, 1971, and the second was UNLA 45.8.2 section C, on August 10, 1984. Persian Gulf is also the recognized name by the British Permanent Committee on Geographical Names (PCGN).

    I’ve submitted the above links in order to support this position and clear any confusion as to what to call the Persian Gulf. I also hope this has been only an unfortunate oversight and that it will be corrected immediately. I look forward to your reply and thank you for your attention to this important matter.

    Please contact me if you need more information with regards to this topic.

    Sincere Regards
    Saeed Tasbihsazan

  2. Seyyed Reza Davarnia says:

    It is Persian Gulf

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