A 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.