Marmooka City

http://img520.imageshack.us/img520/4052/p1070624nq2.jpg (http://imageshack.us)

Marmooka City Projects so far:

Plot & Tower Name with Forum Link

M1 Monarch Tower (http://www.skyscrapercity.com/showthread.php?t=667718)
M2 Regent Tower (http://www.skyscrapercity.com/showthread.php?t=670330)
M3 Manara Ajman (http://www.skyscrapercity.com/showthread.php?t=629881)

MD1
MD2
MD3 Sky Tower (http://www.skyscrapercity.com/showthread.php?t=668266)
MD4 Burj Royale (http://www.skyscrapercity.com/showthread.php?t=634228)
MD5 Burj Regal (http://www.skyscrapercity.com/showthread.php?t=670322)
MD6 Esskay Executive Tower (http://www.skyscrapercity.com/showthread.php?t=707862)
MD7
MD8 Global City Tower (http://www.skyscrapercity.com/showthread.php?t=667736)

MC1
MC2
MC3 The Crescent Star (http://www.skyscrapercity.com/showthread.php?t=752456)
MC4
MC5
MC6
MC7
MC8
MC9
MC10 Midas Executive Tower (http://www.skyscrapercity.com/showthread.php?t=668252)
MC11
MC12
MC13 Royal Rose Garden (http://www.skyscrapercity.com/showthread.php?t=707870)
MC14
MC15

MB1 Hyde Park Towers (http://www.skyscrapercity.com/showthread.php?t=668314)
MB2 Hyde Park Towers (http://www.skyscrapercity.com/showthread.php?t=668314)
MB3 Hyde Park Towers (http://www.skyscrapercity.com/showthread.php?t=668314)
MB4
MB5 Tulips Residence (http://www.skyscrapercity.com/showthread.php?t=692370)
MB6
MB7
MB8
MB9
MB10
MB11
MB12
MB13
MB14
MB15 Pearl Continental Towers (http://www.skyscrapercity.com/showthread.php?t=725964)
MB16
MB17
MB18
MB19
MB20
MB21
MB22
MB23
MB24
MB25 Frankfurt Residence Tower (http://www.skyscrapercity.com/showthread.php?t=616826)
MB26
MB27
MB28
MB29
MB30
MB31
MB32
MB33
MB34
MB35
MB36

MA1
MA2
MA3
MA4
MA5
MA6
MA7 Al Wasay Towers (http://www.skyscrapercity.com/showthread.php?t=670436)
MA8
MA9
MA10 Dream Tower (http://www.skyscrapercity.com/showthread.php?t=672042)
MA11 Sense Tower (http://www.skyscrapercity.com/showthread.php?t=670428)
MA12
MA13 The Crescent Towers (http://www.skyscrapercity.com/showthread.php?t=649004)
MA14 The Crescent Towers (http://www.skyscrapercity.com/showthread.php?t=649004)
MA15 The Crescent Towers (http://www.skyscrapercity.com/showthread.php?t=649004)
MA16
MA17 Memon Ajman Tower (http://www.skyscrapercity.com/showthread.php?t=668342)
MA18
MA19
MA20 Suwaad Heights (http://www.skyscrapercity.com/showthread.php?t=670348)
MA21
MA22
MA23
MA24 Safari Residencia (http://www.skyscrapercity.com/showthread.php?t=670452)
MA25
MA26 Al Wasay Towers (http://www.skyscrapercity.com/showthread.php?t=670436)
MA27 Al Wasay Towers (http://www.skyscrapercity.com/showthread.php?t=670436)
MA28
MA29
MA30
MA31
MA32
MA33
MA34
MA35
MA36 Bianca Ajman Tower 1 (http://www.skyscrapercity.com/showthread.php?t=667674)
MA37
MA38
MA39
MA40
MA41
MA42 Rufi Akin Towers (http://www.skyscrapercity.com/showthread.php?t=667692)
MA43 Rufi Akin Towers (http://www.skyscrapercity.com/showthread.php?t=667692)
MA44 SB Residence Tower (http://www.skyscrapercity.com/showthread.php?t=725970)
MA45
MA46 Bianca Ajman Tower 2 (http://www.skyscrapercity.com/showthread.php?t=670358)
MA47
MA48
MA49
MA50
MA51 Fiza Tower (http://www.skyscrapercity.com/showthread.php?t=668318)
MA52
MA53
MA54
MA55 CBI Towers (http://www.skyscrapercity.com/showthread.php?t=667690)
MA56
MA57
MA58
MA59
MA60 Emerald Tower Vista (http://www.skyscrapercity.com/showthread.php?t=667684)
MA61
MA62
MA63
MA64
MA65 Sat Lake Residency ( http://www.skyscrapercity.com/showthread.php?t=670378)
MA66
MA67
MA68
MA69
MA70
MA71
MA72
MA73
MA74
MA75
MA76
MA77
MA78
MA79
MA80
MA81 Skymax Residency (http://www.skyscrapercity.com/showthread.php?t=670412)
MA82
MA83 Konig Tower 1 (http://www.skyscrapercity.com/showthread.php?t=668336)
MA84
MA85
MA86
MA87 Al Marauwa Tower (http://www.skyscrapercity.com/showthread.php?t=668258)
MA88
MA89
MA90
MA91
MA92
MA93 Al Wasay Towers (http://www.skyscrapercity.com/showthread.php?t=670436)
MA94
MA95
MA96
MA97
MA98
MA99
MA100
MA101
MA102
MA103
MA104
MA105
MA106
MA107
MA108
MA109
MA110
MA111
MA112
MA113
MA114
MA115
MA116
MA117
MA118
MA119
MA120
MA121
MA122
MA123 Shami Gardens Tower 1 (http://www.skyscrapercity.com/showthread.php?t=616828)
MA124 Shami Gardens Tower 2 (http://www.skyscrapercity.com/showthread.php?t=616828)
MA125
MA126
MA127 Al Wasay Towers (http://www.skyscrapercity.com/showthread.php?t=670436)
MA128
MA129
MA130 Peace Tower (http://www.skyscrapercity.com/showthread.php?t=686940)
MA131 Team Tower (http://www.skyscrapercity.com/showthread.php?t=670384)
MA132
MA133 Onyx Tower (http://www.skyscrapercity.com/showthread.php?t=672054)
MA134
MA135
MA136
MA137
MA138
MA139
MA140
MA141
MA142 Al Wasay Towers (http://www.skyscrapercity.com/showthread.php?t=670436)
MA143
MA144
MA145
MA146
MA147 Star Residence Tower (http://www.skyscrapercity.com/showthread.php?t=670392)
MA148
MA149
MA150 Sama'a Tower 1 (http://www.skyscrapercity.com/showthread.php?t=669632)
MA151
MA152

Unknown Location:
- The Kings Tower (http://www.skyscrapercity.com/showthread.php?t=669620)
- Park Business Tower (http://www.skyscrapercity.com/showthread.php?t=670312)
- Kaybiz Tower (http://www.skyscrapercity.com/showthread.php?t=670398)
- Gold Tower (http://www.skyscrapercity.com/showthread.php?t=670404)
- Tejarah Executive Tower ("http://www.skyscrapercity.com/showthread.php?t=723628)
- Art Tower

I hope this gives a good overview of all projects...

Hi,

Who is selling these plots? Where can I get details of this project.

Thanks,

Sam.

^^
Gulfnews has a full page advert again.

price from AED 67/sqft

contact nr: Aspire Real Estate, +971 4 3390123
info@aspiredubai.com

Has anyone else heard of a G+95 storey tower for Marmooka City? I think it will be called Emperor Tower.

Apparantly it will be located next to the shopping centre with 4 other significant towers. One of these other towers is called Monarch Tower details can be found here: http://www.simsari.com/

A tower has also been released called Sky Tower 60 floors. Considering the scale of these developments the prices look quite attractive.

Ajman may get its first supertall :)

There's also Sky Tower which is another supertall and looks rather nice. Currently going at just over AED500 psf. Marmooka City definitely looks like it has potential!

New tower called monarch tower.

http://www.simsari.com/search/propertydetail.aspx?ItemId=7482&tk_s=&tk_b=VP

Has anyone else heard of a G+95 storey tower for Marmooka City? I think it will be called Emperor Tower.

Ajman may get its first supertall :)

Yes, I think the tower u are referring to is Manara Ajman.

See below :)

Al Barakah to build Ajman's tallest tower
Staff Report
Published: May 19, 2008, 00:16

http://i29.tinypic.com/26240pd.jpg

Dubai: Al Barakah Group, the Dubai-based real estate group with a strong presence in all the segments of the real estate value-chain and a project portfolio of more than Dh8 billion, on Sunday announced 'Manara Ajman' the tallest tower in Ajman.

This 95-storey tower is a part of the Dh4 billion mixed-used development in Marmooka City, which is being developed by Al Barakah group. While Manara Ajman (or 'Lighthouse of Ajman' in Arabic) certainly adds an interesting vertical dimension to Ajman's skyline, the actual height of the tower has not yet been revealed.

Manara Ajman would be part of a larger multi-towered project - The Crest. The Crest would offer free-hold residential, commercial and retail space along with modern leisure, lifestyle, well-being, entertainment and fine dining opportunities.

"The Crest is Al Barakah's most ambitious project till date and an iconic development in itself that gives Ajman its first ever tall tower- Manara Ajman. While Manara Ajman adds a distinct advantage to the project, the other USP of the project is most certainly its location as the gateway to Marmooka City," said Imran Khan, CEO of Al Barakah

In addition to Manara Ajman, the 6 million square feet development would include four other towers-Burj Royale, Burj Regal, Burj Monarch, and Burj Regent.

The Burj Regent and the Burj Monarch will share a common podium that would incorporate diverse retail opportunities spread over an area of 1 million square foot with a dedicated car park for the retail section.

http://www.gulfnews.com/business/Real_Estate_Property/10214290.html

95 storeys!! :cheers:

http://www.arabianbusiness.com/519629-al-barakah-to-build-ajmans-tallest-tower?ln=en

it's top 1 news for the whole thread they already have thread at supertalls section :)

PG: thnx PG For article

Monarch Tower has been renamed to 'Burj Monarch' and will be 60+ storeys tall. It will be located behind the Manara tower and has just been launched. Do you think this would be a good investment? Not sure how much interest there is in Marmooka City (probably alot more now that it has a supertall...)

Project Name :BIANCA AJMAN TOWER 1
Type : RESIDENTIAL
Project Completion : Dec 2011
Project Overview : Bianca Ajman Tower1 is an epitome of exquisite elegance and absolute comfort. Utterly unique in design and truly magnificent in conception, Bianca Ajman Tower 1 offers you a lavish lifestyle with the sophistication and level of luxury on par with the very best. The development designed exclusively to reflect style and functionality, comprises of a beautiful Ground Lobby + 4 floors parking +14 typical floors of top class residential complex, consist of total 140 Apartments. Each floor have 2 units of Studios, 4 units of 1 Bedroom & 4 units of 2 Bedroom apartments
Location Development will be located at one of the most prime location of Ajman, Marmooka City at Emirates Road, Sharjah – Ajman border 30 minutes drive from Dubai International Airport.

http://www.aryene.com/Images/img/268.jpg

http://www.aryene.com/location_image.aspx

^^

http://www.aryene.com/images/img/locat/270.jpg

http://www.aryene.com/Images/img/283.jpg



Project Name : MONARCH TOWER
Type :RESIDENTIAL
Project Completion : MARCH 2012
Project Overview Monarch Tower is one of the five towers of “The Crest” series in Marmooka City. The Crest is a collection of five towers namely the Emperor Tower (highest tower in Marmooka City G+70), Regal Tower, Royale Tower, Regent Tower and Monarch Tower Ideally located in Marmooka City, Ajman, a fast-growing business and residential hotspots. The towers are located in the business district, shopping mall and the 5 towers are facing the Emirates Road. Marmooka City, Ajman, is one of the fastest growing business and residential communities located within minutes of Dubai. It is strategically located on Emirates Road, the highway that links Dubai, Abu Dhabi, Sharjah, Umm Al Quwain and Ras Al Khaimah. It is also a short drive to Sharjah and Dubai airports and the strategic free zones
Location Ideally located in Marmooka City, Ajman, a fast-growing business and residential hotspots. The towers are located in the business district, shopping mall and the 5 towers are facing the Emirates Road .

Facilities
&
Features Health club with Sauna and Jacuzzi
24-hour security
Swimming pool
State of the Art Lobby
Gym
Play Area
Residential Visa and Absolute Ownership
High Quality Finishing



http://www.aryene.com/images/img/locat/286.jpg

Global City Tower, 55 floors (G + 8 parking + 46 commercial), plot MD8

http://i31.tinypic.com/vo20qo.jpg

http://www.besthomesemirates.com/main/index.php?p=projects.php (see announcements)

Al Jabal Holdings launches Crescent Towers in Ajman

on Monday, June 16, 2008

Developer Al Jabal Holdings yesterday launched Crescent Towers in Ajman's Marmooka City. The project comprises three residential 18-storey towers, which have been designed by Adnan Saffarini Engineering Consultants. Due for completion in October 2011, each floor will have nine apartments ranging from studios to one bedroom, two bedrooms and three bedrooms.

"We have chosen Marmooka City for Crescent Towers due to its ambitious design and fantastic location, a mere 25 minutes from Dubai," said Saeed Ali Currimjee, Managing Director of Al Jabal Real Estate.

"Marmooka City is developing its own city within a city with shopping malls, schools, mosques and gardens at affordable prices, which perhaps is the most lucrative investment potential in the market today."

"The apartments will make the best use of natural light, reflecting Crescent Towers' environment-friendly approach to providing a green living environment. Residents will have access to several world-class features, including a temperature-controlled rooftop pool, state-of-the-art gym and ample covered parking," said Ahmad Saffarini, Chief Executive Officer, Adnan Saffarini Eng. Consultants, also the master designer for Marmooka City.

The founders of Al Jabal Real Estate are members of the family that owns Seven Seas Computers, an IT company in the UAE for more than 25 years and Currimjee Group, a 120-year-old business conglomerate spread across Africa and Asia. In the past 12 months, it has expanded to Abu Dhabi and Mauritius.

Further expansion is envisioned over the next 18 months. Al Jabal Real Estate established Al Jabal Holdings to venture into property development.

According to Ajman Chamber of Commerce and Industry report, the value of the real estate sector in the emirate, has risen to Dh120 billion. Foreigners now own 33 per cent of development projects established in the city compared to 11 per cent in other emirates, thereby elevating Ajman's annual investment growth rate to an average of 6.7 per cent.



The number

120bn: The value, in dirhams of the real estate sector in Ajman, according to the Ajman Chamber of Commerce and Industry report. Foreigners now own 33 per cent of the development projects in the city compared to 11 per cent in other emirates. This elevates Ajman's annual investment growth rate to 6.7 per cent.

Global City Tower, 55 floors (G + 8 parking + 46 commercial), plot MD8

http://i31.tinypic.com/vo20qo.jpg

Wow, what a beautiful building ... luv this design. And 55 floors too! Thanks for the post Michiel :cheers:

18-storey Crescent Towers launched at Marmooka City in Ajman

http://i30.tinypic.com/a5i44x.jpg
16-Jun-2008

Crescent Towers, a luxurious residential real estate project being developed by Al Jabal Holdings, Dubai-based real estate developer, has been launched at Marmooka City in Ajman. The project comprises of three 18-storey residential towers designed by Adnan Saffarini Engineering Consultants, one of the oldest and most distinguished architectural firms in the UAE. Due for completion in October 2011, each floor will have 9 apartments featuring studios, 1, 2 and 3 and three bedrooms.

Saeed Ali Currimjee, MD, Al Jabal Real Estate, said, "We have chosen Marmooka City as the location for Crescent Towers due to its ambitious design and fantastic location, a mere 25 minutes from Dubai. Marmooka City is developing its own city within a city with shopping malls, schools, mosques, lush gardens at very affordable prices, which perhaps is the most lucrative investment potential in the real estate market today".

Located close to Emirates Road highway connecting Ajman to Dubai, the Crescent Towers real estate project is a short distance from one of the most unique coastlines in the UAE. The government of Ajman envisions the city as an international tourist destination and business hub.

http://www.gowealthy.com/gowealthy/wcms/en/home/news/real-estate/Crescent-Towers-launched-at-Ma-1213603337364.html

where is the truth :)
Monarch Tower:
http://www.alineah.com/photos/130/property/15539.JPG http://tbn0.google.com/images?q=tbn:crO2WViDlbwI1M:http://www.upaworld.com/images/monarch-tower.jpg

http://www.upaworld.com/images/the-crest.jpg
http://www.expatriates.com/img/2724724.1.jpg

anybody know official developer's site of this project?
Heard that water question was succefully solved in marmooka city (situation much better than in other upcoming ajman's projects). any work started in marmooka or no?

So Marmooka City has 214 plots :nuts:

MA plots: 152
MB plots: 36
MC plots: 15
MD plots: 8
M plots: 3

http://marmookacity.org/images/sky_tower_marmooka_city_ajman.jpg
Sky Tower is located in Marmooka City Plot # MB, Ajman, United Arab Emirates.

^^
:nuts:

----
http://www.thecrescenttowers.com/images/image-1.jpg

Levelling at Marmooka City is under progress.

look like 60F what a wonderful one :)

New Project " MEMON AJMAN TOWER "

http://www.gowealthy.com/gowealthy/wcms/en/home/real-estate/uae/ajman/memon-ajman/index.avsFiles/Overview%20Image/overview.jpg

Overview

The new shape of luxury living

Ajman Tower is the latest real estate offering in the upcoming Marmooka City located in the emirate of Ajman. Boasting of all modern facilities and luxuries that make life zestful and satisfying, Ajman Tower is the new residential address to call a home. Detailed attention is given to every single aspect of the project right from the selection of the most modern equipments to articulate designing of the living spaces. Ajman Tower offers serene community combined with unpolluted environment in close proximity to Dubai and other cities of the UAE.

Ajman Tower at a glance:
Freehold project with 100% ownership rights
Free family residence visa available
Located in upcoming Marmooka City, Ajman
G + 4 Parking + 14 Typical Floors
Impressive marble lobby
140 apartments with Studios and 1 & 2 BR
14 Studios, 84 One-BR & 42 Two-BR
Intelligently planned space & utilities
Lake & open view apartments
Mixed-use development with residential & retail units
Designed by Adnan Safirini
Scheduled for completion in June 2011


Location

Ajman Tower is ideally located in Marmooka City, newly developed city under the patronage of HH Sheikh Humaid Bin Rashid Al Nuaimi, Ruler of Ajman. Situated off the Emirates Road, Marmooka City is nestled between Ajman and Sharjah border. Once complete, Marmooka City will be home to 200 residential and office towers set amidst luscious gardens and flowing lakes. Set for completion in 2009, the city will include a shopping district, 5-star hotels, mosques, educational institutions and medical facilities. Ajman, with booming real estate sector, is the new hub for construction and development.

Ajman Tower at Marmooka City, Ajman is:
Located on the Ajman-Sharjah border off Emirates Road
10 minutes away from Sharjah Airport and Sharjah Airport International Free Zone
At a distance of 20 minutes from Dubai International Airport
Within easy access of Ajman beach & free zone
In close vicinity of commercial and entertainment hubs in Ajman

http://www.gowealthy.com/gowealthy/wcms/en/home/real-estate/uae/ajman/memon-ajman/locationmap.jpg

Cancelled per my colleagues request just to be nice for his other ssc contribution

Casamia to handle Best Eastern's Ajman projects


Best Eastern of China has signed a deal with Casamia Star Gesamplanung Real Estate, a German developer and broker, to handle projects worth Dh400 million.

Best Eastern signed the agreement for their two upcoming projects, "Tulips Residence" and "Park Business Tower", in Marmooka City in Ajman as the exclusive agent for marketing and selling the two projects.

"This is the start of a sturdy future collaboration between Casamia Star and one of the leading development companies, Best Eastern, in China. This association will turn into exciting future projects in the UAE as part of Casamia Star efforts to enhance strategies in the real estate market," Casamia Star Managing Director Israr Yousaf said in a statement.

Best Eastern Group is among China's top residential property developing companies. It enjoys strong reputation for its abundant capital and rich experience in developing top villas and exclusive residential communities in China's developed coastal cities.

It has expanded its real estate investment to the UAE, with three projects, including residential and commercial buildings.

Casamia Star Gesamplanung has run various successful projects in Germany and the UAE. Their reputed skills and rapid international growth along with the glitter of their latest project in Ajman, Frankfurt Residence, paved the way for this agreement with Best Eastern, said a statement.

Casamia Star Gesamtplanung is a merger between two leading German names, the real estate expert Casamia Star and the German architectural firm Gesamtpalnungsbuero.

high-res map:
http://www.nourland.com/images/UAE/Plots/Al%20Jabal/MAIN_MARMOOKA-CITY.jpg

Marmooka City Projects so far:

Plot & Tower Name with Forum Link

M1 Monarch Tower (http://www.skyscrapercity.com/showthread.php?t=667718)
M2 Regent Tower (http://www.skyscrapercity.com/showthread.php?t=670330)
M3 Manara Ajman (http://www.skyscrapercity.com/showthread.php?t=629881)

MD1
MD2
MD3 Sky Tower (http://www.skyscrapercity.com/showthread.php?t=668266)
MD4 Burj Royale (http://www.skyscrapercity.com/showthread.php?t=634228)
MD5 Burj Regal (http://www.skyscrapercity.com/showthread.php?t=670322)
MD6 Esskay Executive Tower (http://www.skyscrapercity.com/showthread.php?t=707862)
MD7
MD8 Global City Tower (http://www.skyscrapercity.com/showthread.php?t=667736)

MC1
MC2
MC3 The Crescent Star (http://www.skyscrapercity.com/showthread.php?t=752456)
MC4
MC5
MC6
MC7
MC8
MC9
MC10 Midas Executive Tower (http://www.skyscrapercity.com/showthread.php?t=668252)
MC11
MC12
MC13 Royal Rose Garden (http://www.skyscrapercity.com/showthread.php?t=707870)
MC14
MC15

MB1 Hyde Park Towers (http://www.skyscrapercity.com/showthread.php?t=668314)
MB2 Hyde Park Towers (http://www.skyscrapercity.com/showthread.php?t=668314)
MB3 Hyde Park Towers (http://www.skyscrapercity.com/showthread.php?t=668314)
MB4
MB5 Tulips Residence (http://www.skyscrapercity.com/showthread.php?t=692370)
MB6
MB7
MB8
MB9
MB10
MB11
MB12
MB13
MB14
MB15 Pearl Continental Towers (http://www.skyscrapercity.com/showthread.php?t=725964)
MB16
MB17
MB18
MB19
MB20
MB21
MB22
MB23
MB24
MB25 Frankfurt Residence Tower (http://www.skyscrapercity.com/showthread.php?t=616826)
MB26
MB27
MB28
MB29
MB30
MB31
MB32
MB33
MB34
MB35
MB36

MA1
MA2
MA3
MA4
MA5
MA6
MA7 Al Wasay Towers (http://www.skyscrapercity.com/showthread.php?t=670436)
MA8
MA9
MA10 Dream Tower (http://www.skyscrapercity.com/showthread.php?t=672042)
MA11 Sense Tower (http://www.skyscrapercity.com/showthread.php?t=670428)
MA12
MA13 The Crescent Towers (http://www.skyscrapercity.com/showthread.php?t=649004)
MA14 The Crescent Towers (http://www.skyscrapercity.com/showthread.php?t=649004)
MA15 The Crescent Towers (http://www.skyscrapercity.com/showthread.php?t=649004)
MA16
MA17 Memon Ajman Tower (http://www.skyscrapercity.com/showthread.php?t=668342)
MA18
MA19
MA20 Suwaad Heights (http://www.skyscrapercity.com/showthread.php?t=670348)
MA21
MA22
MA23
MA24 Safari Residencia (http://www.skyscrapercity.com/showthread.php?t=670452)
MA25
MA26 Al Wasay Towers (http://www.skyscrapercity.com/showthread.php?t=670436)
MA27 Al Wasay Towers (http://www.skyscrapercity.com/showthread.php?t=670436)
MA28
MA29
MA30
MA31
MA32
MA33
MA34
MA35
MA36 Bianca Ajman Tower 1 (http://www.skyscrapercity.com/showthread.php?t=667674)
MA37
MA38
MA39
MA40
MA41
MA42 Rufi Akin Towers (http://www.skyscrapercity.com/showthread.php?t=667692)
MA43 Rufi Akin Towers (http://www.skyscrapercity.com/showthread.php?t=667692)
MA44 SB Residence Tower (http://www.skyscrapercity.com/showthread.php?t=725970)
MA45
MA46 Bianca Ajman Tower 2 (http://www.skyscrapercity.com/showthread.php?t=670358)
MA47
MA48
MA49
MA50
MA51 Fiza Tower (http://www.skyscrapercity.com/showthread.php?t=668318)
MA52
MA53
MA54
MA55 CBI Towers (http://www.skyscrapercity.com/showthread.php?t=667690)
MA56
MA57
MA58
MA59
MA60 Emerald Tower Vista (http://www.skyscrapercity.com/showthread.php?t=667684)
MA61
MA62
MA63
MA64
MA65 Sat Lake Residency ( http://www.skyscrapercity.com/showthread.php?t=670378)
MA66
MA67
MA68
MA69
MA70
MA71
MA72
MA73
MA74
MA75
MA76
MA77
MA78
MA79
MA80
MA81 Skymax Residency (http://www.skyscrapercity.com/showthread.php?t=670412)
MA82
MA83 Konig Tower 1 (http://www.skyscrapercity.com/showthread.php?t=668336)
MA84
MA85
MA86
MA87 Al Marauwa Tower (http://www.skyscrapercity.com/showthread.php?t=668258)
MA88
MA89
MA90
MA91
MA92
MA93 Al Wasay Towers (http://www.skyscrapercity.com/showthread.php?t=670436)
MA94
MA95
MA96
MA97
MA98
MA99
MA100
MA101
MA102
MA103
MA104
MA105
MA106
MA107
MA108
MA109
MA110
MA111
MA112
MA113
MA114
MA115
MA116
MA117
MA118
MA119
MA120
MA121
MA122
MA123 Shami Gardens Tower 1 (http://www.skyscrapercity.com/showthread.php?t=616828)
MA124 Shami Gardens Tower 2 (http://www.skyscrapercity.com/showthread.php?t=616828)
MA125
MA126
MA127 Al Wasay Towers (http://www.skyscrapercity.com/showthread.php?t=670436)
MA128
MA129
MA130 Peace Tower (http://www.skyscrapercity.com/showthread.php?t=686940)
MA131 Team Tower (http://www.skyscrapercity.com/showthread.php?t=670384)
MA132
MA133 Onyx Tower (http://www.skyscrapercity.com/showthread.php?t=672054)
MA134
MA135
MA136
MA137
MA138
MA139
MA140
MA141
MA142 Al Wasay Towers (http://www.skyscrapercity.com/showthread.php?t=670436)
MA143
MA144
MA145
MA146
MA147 Star Residence Tower (http://www.skyscrapercity.com/showthread.php?t=670392)
MA148
MA149
MA150 Sama'a Tower 1 (http://www.skyscrapercity.com/showthread.php?t=669632)
MA151
MA152

Unknown Location:
- The Kings Tower (http://www.skyscrapercity.com/showthread.php?t=669620)
- Park Business Tower (http://www.skyscrapercity.com/showthread.php?t=670312)
- Kaybiz Tower (http://www.skyscrapercity.com/showthread.php?t=670398)
- Gold Tower (http://www.skyscrapercity.com/showthread.php?t=670404)
- Tejarah Executive Tower ("http://www.skyscrapercity.com/showthread.php?t=723628)
- Art Tower

I hope this gives a good overview of all projects...

Hi to all,

Been watching this forum for a while and this is my first post.

Have purchased a 1 bedroom in Emerald Tower Vista (MA60).

Has anyone else purchased in this building? This is a new developer in Ajman with more buildings to be launched in Marmooka.

Regards,

Dave

Web site for Emerald holdings: http:www.emeraldholdings.org

Devoloper for Emerald Tower Vista.

Does anyone have any pictures on the progress at Marmooka city?

Dave

Is Marmooka City a good development to buy property in? Cant find much information about the actual development...

Is it just me or are they just building wayyy too much towers in Marmooka City.
Will people be living in these units when all the real estate speculation is over ?

they're building way too much + the name of the project is lame

I don't think that there is much information on Marmooka City yet. Maybe this is something that the developers really need to look at. I would hope to see Marmooka really take of after Cityscape but they are maybe holding off on the advertising for another reason??

Is this the largest development that Ajman has seen?

Regards,

Dave

many many towers standing very close to each other...how will people actually get to their tower ? dont want to imagine the traffic within this development....maybe a good investment just, but would not want to live there myself...

The development looks a lot less cramped than Dubai Marina anyways!!

does any body has the list of developers in Ajman and their projects?
please help i need to choose a good one!!!

I consider Etastar to be one of the better ones , just visit their website for projects, www.etastar.com.

About construction updates for marmooka city still a Arid desert ! nothing except one big board at Emirates road ...

does any body has the list of developers in Ajman and their projects?
please help i need to choose a good one!!!
hi there..

i been looking at project in marmooka city. check this out www.esskayexecutives.com. i am thinking of buying 1 in The esskay executive- tallest building on emirates road.

cheers...K

For information on Marmooka City visit www.marmookacity.com

The site also doesn't seem to be updated very often but it's a start!

Dave

hmmm inside info tells me that there will be power shortage, and new plant wont be build until 2013 so any buildings made before this wont be guaranteed electricity. says alot about ajman.

hi there..

i been looking at project in marmooka city. check this out www.esskayexecutives.com. i am thinking of buying 1 in The esskay executive- tallest building on emirates road.

cheers...K

hey there,
if you want to buy in esskay contact me i can help you in that!
0501457805

Hi All,

I understand that at present everything seems to have slowed down but what is going on with Marmooka City?

Does anyone have updates on the construction?

Has the levelling been completed yet?

Any updates would be appreciated as I'm outwith the UAE.

Thanks,

Dave

the price of land has gone down to 62

AED 62/-??

Its much less than ELT, as recent price known was AED 115/-, even Emirates city were sold from AED 65/- to AED 85/-.

If land price is dropping, and cunstruction cost within limit will result final price again near to AED 400/-.

yes
i have a plot for sale in marmooka for 62
n 100 in elt
i dont know about emirates city

Does anyone have any construction updates for Marmooka City?

Regards

Does anyone have any construction updates for Marmooka City?

Regards

yeah! what is going on with the Esskay executives tower???..anyone? btw!...are these developer really doing their job or is it because of the crisis????

how much are they selling now in marmooka city? shud be the best time to make a purchase since everwhere else is on sale!!!!

26/January/2009

Marmooka City, Ajman

first board and fence, thats all

http://img98.imageshack.us/img98/2333/imresolt112ne9.jpg (http://imageshack.us)

http://img185.imageshack.us/img185/8659/imresolt114sx8.jpg (http://imageshack.us)

does any anybody have any information about AL BARAKAH and their projects in marmooka city, like the tallest tower and other 4. heard the news about the ceo of the company mr. imran khan is having problems with the investors and had some police case etc and is in hide for last couple of months???
plz update!

I don’t think this article will help any of you relax regarding AL BARAKAH




http://dubai7stars.blogspot.com/2008/12/uae-property-scandal-number-police-seek.html

The police must find Mr Kahn and bring him to justice. I feel that this is extremely important and will restore investor faith that we cannot just be taken for a ride by these lowlifes.

I have no doubt that if the police were really looking for him that they would of found him by now.

I feel so lucky as I had thought about investing in "the tallest tower".

For all of you that did I feel really sorry.

Regards,

Dave

The police must find Mr Kahn and bring him to justice. I feel that this is extremely important and will restore investor faith that we cannot just be taken for a ride by these lowlifes.

I have no doubt that if the police were really looking for him that they would of found him by now.

I feel so lucky as I had thought about investing in "the tallest tower".

For all of you that did I feel really sorry.

Regards,

Dave

Those crooks tried with me in the Summer 08. The offer was guarnteed payback with a cheque for 50% plus or something like that. As they say " if it sounds too good to be true then it probably is". I cant understand how scums like this can sleep at night or live with themselves knowing they have other peoples money. I read reports that his wife was in a Dubai hotel so why didnt the policy question her for husband wherabouts ??

To be hosent it doesn't even seem that the police are looking for him, if they were then they would of found him by now!

The authorities must take action otherwise we will see this sort of thing happen time and time again.

Mr Kahn cannot go unpunished!

Regards

26/January/2009

Marmooka City, Ajman

first board and fence, thats all

http://img98.imageshack.us/img98/2333/imresolt112ne9.jpg (http://imageshack.us)

http://img185.imageshack.us/img185/8659/imresolt114sx8.jpg (http://imageshack.us)

this is about 19 days ago. Anything newer that I can see anywhere or anyone could post here, pls?

This article (from the National) should speak volumes for why activity has been so limited.

http://www.thenational.ae/article/20090214/BUSINESS/215984900&SearchID=73345238288959

Hopefully govt company as master developer should help going forward...at least a slightly incremental peace of mind. On the other hand projects, in areas where the master developer role has been clearly defined from the outset (RH - Govt owned) have not fared much better.

On the bright side, at least they did something about it - instead of letting it drag on and on. I suppose better late than never.

^^

About time they did something about it

:)

This article (from the National) should speak volumes for why activity has been so limited.

http://www.thenational.ae/article/20090214/BUSINESS/215984900&SearchID=73345238288959

Hopefully govt company as master developer should help going forward...at least a slightly incremental peace of mind. On the other hand projects, in areas where the master developer role has been clearly defined from the outset (RH - Govt owned) have not fared much better.

On the bright side, at least they did something about it - instead of letting it drag on and on. I suppose better late than never.

Refering to the article, (7th paragraph) reads, "Property prices in Ajman doubled in the first half of last year to peak at about Dh600 per square foot in the summer, but have since dropped back to Dh300 per square foot, leaving some developers in financial difficulty.
"
Does the Dh300 per squre foot refer to plot prices or developer's selling prices?

330 psf is a resale price.

I don't think that they should really be using this information in a national newspaper as is creates panic amongst investors.

People who are selling at this price are most desperate to sell and I feel that given these circumstances and the positions that these sellers are in then 300 psf is not a realistic price.

Developers are still selling at ~ 550 psf.

I have never seen any adverts for 300 dhs/sqft, this is just a dream.Most of projects have 5 years payment plan.

Anyway what is the point to sell for 300 if you paid 500 ?? Better to leave and pay nothing more.

Prices in Ajman, Emirates City started in 2006 from 350-400 dhs/sqft, I saw some projects 270-300 but it will be never built.

24/February/2009

Marmooka City

http://img291.imageshack.us/img291/6544/imresolt21.jpg (http://imageshack.us)

http://img502.imageshack.us/img502/2121/imresolt22.jpg (http://imageshack.us)

Good to see some trucks on site I suppose!

hey, Thanks very much Imre.

hope you'll be regulary updating us on Marmooka

Good to see some trucks on site I suppose!

use it for the soil test.

Still nothing construction has started but I think now everybody waiting for the ARRA.

Dear Investors
Has anybody bought in the M Holding projects Midas Executive 1 or 2 in Marmooka City?
We visited M Holdings in Crown Plaza Sheik Zayed Road Dubai and found they have run off with everybody money?
Any body else in this position? They haven't been seen for six weeks and the phones are unaswered and offfice permanentaly closed with a notice on the door that M Holding are no longer operating?

Any info would be appreciated.
Nish.

Does anyone have any updates on Marmooka?

Thought there may have been some progress since the govrnment have taken charge?

Would appreciate any info.

Regards,

Dave

I don’t want to be the bearer of bad news but any projects in Ajman that has not started could be postponed for five years , this is what real estate agents are saying all over Ajman
Marmooka is one of them

Ajman developers hope to trade land for credit
Nathalie Gillet

Last Updated: April 22. 2009 7:29PM UAE / April 22. 2009 3:29PM GMT Developers who are unable to complete their projects in Marmooka City are hoping to trade their land for credit notes from the Ajman Government.

The credit notes would allow them to buy other properties controlled by the Ajman Real Estate Investment Establishment (REIE), the governmental master developer of Marmooka City, or to refund investors.

More than 900 towers have been launched in the past two years in Ajman, although few have been completed.
“There is no doubt that we are going to support the institutions that have suffered,” Sheikh Hamdan bin Zayed, the Deputy Prime Minister, said at Cityscape yesterday. “But we are not going to support those who have been reckless in the beginning with their policy of investment.”

Marmooka City is one of a dozen suburban cities launched in Ajman, along the Emirates Road. Master developers of these projects sold plots to hundreds of smaller developers, mainly from South Asia. Although most of the developers have not started construction, they have already sold off-plan properties to investors from all over the world.

Now, Marmooka City’s developers are banding together to try to resolve the situation. Last week, some of them submitted a letter of intent to the Ajman Real Estate Regulatory Authority (ARRA), a copy of which has been obtained by The National. “We, the undersigned group of developers in Al Marmooka, do hereby express our intent to start negotiation with ARRA and/or [the REIE] in order to exchange our payments in Al Marmooka against any credit note possibly being considered by [the REIE],” the letter said.

Nearly 75 developers bought about 120 plots, but they have not all been fully paid for and some have already defaulted.
“We submitted a petition to ARRA. I managed to gather [signatures] for around 50 per cent of the city,” said Brian Pepper, an Irish developer who launched three towers in Marmooka City.

“Omar al Barguthi, the director general of ARRA, has been very helpful through all the process and is committed to get a solution. Everybody feels that in the current climate Marmooka City is too big of a project to be undertaken. “Consolidation of Marmooka City makes more sense and the different options that ARRA and REIE are considering show that the Ajman authorities are serious about sorting out any issues within the city.”

Ghaleb Jaber, the general manager of REIE, told The National he was willing to consider the proposal, but with certain restrictions. “I am open to this idea, but [developers] would have to cancel the contracts, which means they would also have to pay a penalty amounting of certain percentage of what they have paid,” he said. “If they agree with that, we would give back the balance and convert it into apartments.
“We have worked on the land and started building roads. So there must be some compensation, and they are the ones asking for cancellation.”

On the other side, developers say they have had to wait too long for infrastructure and have faced uncertainty about land ownership.
ARRA yesterday confirmed a May 1 deadline for developers to be registered with the authorities.

“Developers not registered with ARRA are required to immediately proceed with the registration process, otherwise necessary measures will be taken against violators,” said Mr al Barguthi, who explained that the aim was to limit speculators.

ngillet@thenational.ae

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It looks although the size of Marmooka may be reduced.

In my opinion it's the best news I've heard on the City to date.

Regards,

Dave

It looks although the size of Marmooka may be reduced.

In my opinion it's the best news I've heard on the City to date.

Regards,

DaveDave -hope the same happens to Humaid City ? does anyone know about Humaid ?

Here's an article on Marmooka City from the National.

http://www.thenational.ae/article/20090503/BUSINESS/705039990/1133

Marmooka City’s fate in the balance
Nathalie Gillet
Last Updated: May 03. 2009 7:03PM UAE / May 3. 2009 3:03PM GMT
Among the other projects owned by REIE in which developers could shift their money is Aqua City, a 21 plot development, and Awali City along the Emirates road, both of which have not started building. Randi Sokoloff / The National

The fate of Marmooka City, a 200-tower project along the Emirates Road in Ajman, will be decided in the next couple of weeks, according to the Real Estate Investment Establishment (REIE), the master developer.

One of the largest planned communities in Ajman, the project will either be scaled back or cancelled altogether, the latter making it the first development to be abandoned in the emirate. Developers may lose up to Dh300 million (US$81.6m) if they agree to cancel their contracts or consolidate, subject to the REIE’s conditions.
“We need to see how many developers will accept,” said Ghaleb Jaber, the general manager of the REIE. “If we find only 50 customers willing to continue, we will still build Marmooka City, but it will be smaller. We will wait until next week.”

Developers unwilling or unable to build in Marmooka City will be given the option of cancelling their contracts and buying properties owned by the REIE elsewhere. They will receive credit notes for what they have already paid for the land, minus 30 per cent. Mr Jaber said this was a fair deduction because “the value of land has gone down by 50 per cent in the whole country; this burden must be carried by developers too, not just REIE”.

Marmooka City is one of a dozen suburban cities launched in Ajman along the Emirates Road in the past two years.
The majority of developers who bought land in Ajman have sold off-plan properties, but not yet started construction.

It is not clear how the off-plan buyers will be affected, although it is thought that they in turn will be offered apartments in whatever deal their developer accepts.
The developers are clubbing together to try to persuade the master developer to renegotiate the terms of their initial contract, according to Omar Bissar, their legal adviser.

Mr Bissar said his clients had paid more than Dh1 billion (US$272 million) for land in Marmooka City. They now wanted to be given new properties elsewhere in Ajman, and were unhappy with the options from the REIE, and the 30 per cent cancellation fee.

“How can developers pay back end-users if they are charged 30 per cent?” said Brian Pepper, an Irish developer in Marmooka City. “Also, plots were meant to be handed over in July last year. But none of them has. And since REIE took over the entire project in February, even the entrance gate is closed.”

Mr Bissar, who represents about 40 other developers, sent a counter proposal last week. “We want an independent institution, like Colliers for instance, or somebody else to do the pricing of the properties that developers could buy with the credit notes.”
He said his clients would accept a 10 per cent deduction of what had been paid. “According to Sharia law, any penalty has to reflect the damage. But they sat on their money for one year. Nothing in the contracts is mentioned about any penalty. They just want to cancel the developers’ contracts one by one.”

Mr Pepper said he wanted a fixed rate per square foot for properties that developers would be able to purchase from the REIE. “If they charge a 30 per cent penalty and sell their properties at a higher price than the current lower market prices, we will lose twice,” he said. “And since REIE, as a government entity, was granted their land by the Government at a very low price, they won’t be losing any money.”

The developers who were willing to build said they could not do so because they had not been given the land. Some were even uncertain about the ownership of some of their plots because they were still occupied by farms, according to Mr Bissar.

Among the REIE-owned projects to which developers can shift their money are Aqua City, a 21-plot development, and Awali City along the Emirates Road – both of which have not started building. Developers can also go for ready properties in Al Khor, according to Mr Jaber.

He said that the REIE had been very generous. “The first thing we did when we took over all of Marmooka City was to give developers six months’ delay [of instalments] in December. Whenever a cheque was bounced we did not go to the police or the court.”

http://www.propertycommunity.com/forum/dubai-property/13817-rumors-marmooka-city-cancelled.html

Does no one care marmooka is almost on the verge of cancellation and number of developers who have run off with investors money now stands at 5. Even ARRA cannot do anything in these cases.

With ARRAs 100,000aed (every month they are late) fine for developers who have missed the 1st May registration the number of developers to run off/go bust will grow daily.

My developer M Holding has already disappeared.

ARRA is imposing fines now...to developers i am not sure but one of my poor friend who bought few units and advertised to sell got 100,000 dirhams fine. For what he is still not sure.....

Anybody who have investment in Marmooks city should contact their developers immediately because the project is cancelled and many developers and land owners are getting refunds. Act fast and stop paying installments.

Dear Investors
We have invested in M Holdings Midas towers in Marmooka City(Plot MC09 and MC10) both towers were fully sold out 450million aed. M Holding have since stolen everyones money and disappeared. Todate we have only come accross 1 other investor who even knows about this Fraud. We are trying to join forces with other M holding investors.

They also were selling Mirdiff Hill in deira(15 buildings) and again no one on these projects seem aware that M Holding have stolen everyones money.

If there are any other M Holding investors lets begin to communicate and plan our course of Action.

The master developer of Marmooka City REIA confirms M holding till October 2008 had paid 15million aed for each plot MC09 and MC10. Since then no further land payments were made by M Holding.
According to the General director of REIA investors have a claim to this money.

Dashin.

Anybody who have investment in Marmooks city should contact their developers immediately because the project is cancelled and many developers and land owners are getting refunds. Act fast and stop paying installments.

Dear Raza,

Please provide the source of this information. Is't already confirmed?

Thanks

Dear Raza,

Please provide the source of this information. Is't already confirmed?

Thanks

Source is me...... i was there when around 100 plots cancelled by land owners. So it clearly shows that project is no more. If you still believe your devlopers then good for you.

Source is me...... i was there when around 100 plots cancelled by land owners. So it clearly shows that project is no more. If you still believe your devlopers then good for you.

Hello,

I heard that Marmooka city will go ahead but with 50 plots only (Marmooka area will be decreased from 200plots). Does anybody has information?

Thanks

Hello,

I heard that Marmooka city will go ahead but with 50 plots only (Marmooka area will be decreased from 200plots). Does anybody has information?

Thanks

Dear All,

On the below link you will find the last news about Marmooka city (it is in arabic).

http://www.ajman.ae/ar/index.php?option=com_content&view=article&id=681:2009-05-14-04-06-54&catid=18:2008-09-18-16-32-45&Itemid=33
Thanks

Dear All,

On the below link you will find the last news about Marmooka city (it is in arabic).

http://www.ajman.ae/ar/index.php?option=com_content&view=article&id=681:2009-05-14-04-06-54&catid=18:2008-09-18-16-32-45&Itemid=33
Thanks

I dont think so. As i am not seeing any 50 developers in that area who are interested or can build any more. Its better for every investor to keep an eye on there developers and if there is no activity and they are not still registered with ARER then do not pay them.

I dont think so. As i am not seeing any 50 developers in that area who are interested or can build any more. Its better for every investor to keep an eye on there developers and if there is no activity and they are not still registered with ARER then do not pay them.


Raza do you work at Govt ?
Have land owners canceled plots at Humaid and have many registered anyway ?

Raza do you work at Govt ?
Have land owners canceled plots at Humaid and have many registered anyway ?

No i am not working for Gov. I have seen only documents of Marmooka city.

Hi,

Does any person has inforamtion about Marmooka city?.Also I need to know if somebody knows the developer Emerald Holdings.

Thanks

zz

zz

PS My understanding is that Govt is trying to come up with a new "masterplan" for the project.

Hope that we hear what has been finalised soon. It's now over a year since the initial purchase and not a thing on any site in Marmooka.

Kevin,

Did you receive any iformation from developer about the properties payment.

I think we should froze the payment till receive the new marmooka design.

does anyone have any information regarding electricity and water supply for this planned city?

zz

zz

Hi All,

Does anyone know Progressive Real Estate? They have some projects on Marmooka ( Al Wasay Towers), and they are not responding anymore. The last I heard that the owner of the company is in Jail. Did anyone try to contact the AJman Real Estate authorite? Are they of any help?

I would like your feedback please.

hi there,

i have purchased two flats through best eastern, in a tower to be named golden lily garden, has anyone heard of it ?

i have now found that the building is not registered with ARRA nor are they escrow registered.

the company are saying they will now use my money to invest in a building named China tower, which i can find no evidence of.

can anyone shed any light on this ?

amanda, scotland x

Dear Amanda. I have also had a deal with best eastern but for another building, royal rose garden. in fact, this project nor has been registered with arra and neither got the escrow account.they give the confusing and completely differente informations to investors and i do not know to what believe. But I think in best case for us they will try to consolidate 3 or 4 projects in 1.

zz

Just got the official document from REIE (Real Estate Investment Est.) about new plots of Marmouka city.
I dont know how to attached the documents so I put the information below. Hope it will be usefull for somebody.

Original New
1 MA 04 MA 121
2 MA 11 MA 114
3 MA 13 MA 109
4 MA 14 MA 110
5 MA 33 MA 88
6 MA 42 MA 111
7 MA 53 MA 61
8 MA 56 MA 65
9 MA 67 MA 67
10 MA 83 MA 83
11 MA 133 MA 108
12 MC 14 MC 08
13 MC 18 MC 28
14 MC 20 MC 20
15 MC 21 MC 21
16 MC 22 MC 22
17 MC 23 MC 23
18 MC 24 MC 24
19 MC 27 MC 27
20 MD 03 MD 03

Just got the official document from REIE (Real Estate Investment Est.) about new plots of Marmouka city.
I dont know how to attached the documents so I put the information below. Hope it will be usefull for somebody.

Original New
1 MA 04 MA 121
2 MA 11 MA 114
3 MA 13 MA 109
4 MA 14 MA 110
5 MA 33 MA 88
6 MA 42 MA 111
7 MA 53 MA 61
8 MA 56 MA 65
9 MA 67 MA 67
10 MA 83 MA 83
11 MA 133 MA 108
12 MC 14 MC 08
13 MC 18 MC 28
14 MC 20 MC 20
15 MC 21 MC 21
16 MC 22 MC 22
17 MC 23 MC 23
18 MC 24 MC 24
19 MC 27 MC 27
20 MD 03 MD 03

And ? What does this mean ? Is the project going ahead ?

I am currently with the original payment plan and am still continuing to pay.

Emerlad Holdings has an ESCROW account so the money will be secured.

The future of Marmooka was supposed to be decided over 4 weeks back and I really do not know why they will not go public with this information.

What are the Government doing? Why don't they give the investors any information?

If ARRA can't even get a website up and running after 6 months then what can we realistically expect from the Ajman Govt????????:bash:

Hi Kevin,

Please could you advise the price which you paid for your apartment in Emerald holdings.

Thanks

Marmooka City cut down to size

Nathalie Gillet

Last Updated: July 19. 2009 7:49PM UAE / July 19. 2009 3:49PM GMT

Ajman’s largest residential property project will go ahead at just a fraction of its original size, after the developer cancelled more than 180 towers in response to a downturn in investor demand.

Marmooka City, the largest planned community along Emirates Road in Ajman, has been scaled back from 206 towers to just 20 buildings

http://www.thenational.ae/apps/pbcs.dll/article?AID=/20090719/BUSINESS/707199916/1133

yeh i read that... ajman was never a place to invest..

Marmooka City project in Ajman scaled back

Staff Report
Last updated: July 20, 2009, 08:17


Ajman: Marmooka City, the largest planned community along Emirates Road in Ajman, has been scaled back from 206 towers to just 20 buildings as a result of downturn in investor demand, according to a senior official at Real Estate Investment Establishment (REIE), the master developer.

The initial project plan of the luxury suburban development was to have a 206 residential and commercial buildings and feature Manara Ajman the tallest tower in the emirate with a school, clinics, a large shopping mall and five-star hotels.

The project was scheduled to be completed next year as originally due for completion next year.

More than Dh1 billion (US$272 million) have been paid so far by developers to buy a land within the planned Marmooka project.

They will be partially refunded but not in cash for projects that have been shelved or cancelled.

http://www.gulfnews.com/business/Real_Estate_Property/10333020.html

so far, nearly 60 towers have been approved, so about 40 of them will be cancelled :ohno:

Wait a minute... People are still interested to invest even without being able to get the Residence Visa??
Please explain why?

I am currently with the original payment plan and am still continuing to pay.

Emerlad Holdings has an ESCROW account so the money will be secured.

The future of Marmooka was supposed to be decided over 4 weeks back and I really do not know why they will not go public with this information.

What are the Government doing? Why don't they give the investors any information?

If ARRA can't even get a website up and running after 6 months then what can we realistically expect from the Ajman Govt????????:bash:


Kevin,

Emerald Holdings is not approved by ARRA and has not legal Escrow account.

Please advise the actions which you take/will take with the developer regarding your money.

Thanks

zz

Arra have emailed me previously stating that Emerald Holdings are fully registered so I'm assuming for the time being that the info on ARRAs website is not complete.

Emerald Holdings have their registration certificates on their website as well as the ESCROW certificates.

Anyone have any news on Marmooka? I emailed ARRA again last week regarding the development but have not had any response!

Please would you post ARRA e-mail regarding Emerald Holdings registration.

Thanks

zz

People dont buy property just for a Residence Visa!!! there are other reasons like investment, holiday home, a home if you decide to move to the country to work, etc.

Wait a minute... People are still interested to invest even without being able to get the Residence Visa??
Please explain why?

zz

Click to view:

http://www.thekingsofmarmooka.com/marmoo3large.jpg

http://gulfnews.com/business/property/developers-join-forces-in-ajman-1.557166

Developers join forces in Ajman
The year-long efforts to clear the debris littering Ajman's real estate landscape seem to be yielding good results.

by Manoj Nair, Editor, Property Monthly
Published: 00:00 January 1, 2010


The Ajman property market is beginning to see a certain amount of measured progress after what it went through since the beginning of 2009, industry officials sayImage Credit: Grace Paras Four developers have joined forces to launch construction on a tower in Marmooka City — one of the many ‘city' developments originally planned for Ajman — and expect to do so on a second one as well.

While the two projects in themselves are not going to get the market moving again, the reasoning is that other developers would also come together to effect a similar strategy.

"Consolidation of land holding and pooling resources on select projects is the way forward for developers to get things started on the ground in the next few weeks and months," notes Peadar Malone, director of Kings Group, which has aligned with Emerald Holdings, Pride Properties and Century under The Kings of Marmooka umbrella. They each hold equity in the Kings Tower, a G+7+25-storey residential structure with 460 units, and Malone is certain that construction will start this month itself and is scheduled for completion by mid-2012.

All of this is far removed from the full-blown crisis that overtook Ajman's property space when the correction took over in late 2008. Values crashed on property that was only ever seen on paper, grandiose projects that were to reshape Ajman's skyline slipped into a terminal coma, developer sightings became scarce and investors had only themselves to blame.

Since then, the Ajman Real Estate Regulatory Agency has been working overtime to put a measure of normalcy back into the proceedings. Select developers who would go the distance with their projects, either on their own or in the company of others were identified.

"Other developer groupings with plots that are fully paid up are working on similar strategies and some have even approached and asked us to be involved with theirs," Malone says.

"And by starting on projects as soon as the plot payments are complete, we as developers are trying to restore investors' confidence, which has taken a severe hit in recent months," he adds.

By the looks of it, investors are reposing faith in what this developer grouping has to say. Around 140 buyers have so far been brought in for the Kings Tower, which includes those who had earlier acquired apartments in the developers' other projects and those with exposure to other projects in Ajman and even Dubai.

Now, why would an investor holding property in a delayed project in Dubai wish to trade it in for one in Kings Tower? "Because we could convince them that we have a project that is definitely going ahead and offered them contractual terms that are favourable to them as well as us," adds Paul Pepper, also a director in Kings of Marmooka.

"Also, their payments are made directly to escrow, which we can only use upon reaching specific milestones in the construction project.

"After all that Ajman's property market has gone through since the beginning of 2009, what we are starting to see now represents measured progress. That is exactly what the market requires now."

Given that investor payments are placed in escrow, the initial construction-related payments will be met through developer equity. Malone says that the grouping has enough cash reserves to get through the first phases of the project.

Initially, the four developers, which are part of The Kings of Marmooka had eight plots in Marmooka City, with Kings Group alone accounting for three. These have been consolidated to two plots which are fully paid for. The Ajman authorities have taken a similar tack in regard to Marmooka City as a whole, which will now be limited to 25 plots instead of the 214 initially envisaged.

Consolidation seems to be working in the Ajman context. Any lesson there for the others? We hope other developers will take a leaf from the Ajman experience

Kevin,

Sounds to me like you work for Kings of Marmooka. If not they ought to employ you as their PR person. Good luck with your 'transfer'

For the rest of us who refuse to be palmed off with expensive fesh air and bullied by Kings of Marmooka then please see www.ajmaninvestors.com

zz

zz

Don't worry: the Ajman Government is clamping down. :lol:

I bet the crooked developers are quaking in their boots.

Invest in Ajman? One question - WHY?


Builders who do not complete projects face clampdown

Yasin Kakande

AJMAN // Property regulators are clamping down on building contractors who fail to meet their commitments, a senior official said yesterday.

Omar al Barguthi, the director general of the Ajman Real Estate Regulatory Authority (Arra), said the biggest disputes between investors and developers recently had involved developers absconding. As many as five such cases have been referred to public prosecutors, he said.

However, Arra planned to pursue them using warrants issued through Interpol. The Ajman Government would also buy into projects to protect investors.

“Our first approach to the disputes is mediation,” Mr al Barguthi said. “We ask each side to refer to the contract and find a solution.

“Our problem is when a developer fails to meet the commitment, closes his office and runs out of the country. Then we have no option but to hand it to police.”

The Government has already bought three troubled projects in the Marmooka City development on Emirates Road.

Sheikh Humaid bin Rashid Al Nuaimi, the Ruler of Ajman, ordered the Government to intervene to ensure that they were finished on time, Mr al Barguthi said.

Over-eager investors were to blame in some cases, he added.

Many bought buildings without knowing their locations, while others put faith in false advertisements without verifying their accuracy.

“One misleading advert was urging people to buy property in Ajman and get a visa for life in a European Union country,” Mr al Barguthi said.

Commenting on the impact of the continuing power crisis in the emirate, Mr al Barguthi said it had helped developers to become more creative. “We have got proposals from developers seeking to build solar-powered towers,” he said.

“There is also a proposal [from] one developer seeking to use a German technology to power high-rise buildings using wind.”

Where did you get this information? Can you post a link?

Any idea on which 3 towers have been taken over? From the ARRA website there are only 2 towers approved in Marmooka (Sky Tower and the Kings Tower)

Regards,

Kevin

The UAE and in particular Ajman became a center for crooks selling fake property. They became millionaires and thousands of middle income investors became bankrupt. The Ajman government is doing too little too late, it should never have reached this stage. These crook's are long gone, they have crawled back into their holes, just a lot richer than they were before.

But there are also "established" developers, who are still in the country, who have delivered nothing, actually led by the Sheikh's family run business R-holding. So let's not get mixed up here: Sure there were crooks from all over the world operating in the UAE, but what about Star Giga, ETA Star, R-Holding, Chapal etc. etc. they are still in the country and they hold investors monies. Ajman is definitely not ready to address any of the problems they face and I bet 99% of the investors regret having trusted this government.

i guess the original idea was to modernize Ajman using innocent investors money (being the smallest emirate their "allowance" must be second to none). Unfortunately this has back fired in their faces and is a good example to the rest of the world what greed and corruption goes on here. WHO IS GOING TO CLEAR THIS UP??????

zz

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Join Date: Apr 2008
Location: Toronto-Dubrovnic-Dubai
Posts: 1,495

Originally Posted by catherinez View Post
I do have the names and numbers of individuals I mentioned. I can forward you by PM or email, please confirm. The firm's name is TLG.


We know the firm's name is TLG. Forty investor's, and I already knew that more than a year ago. We even spoke to Mr. Thucker. The problem is the firm want's to be paid up front, but no body has concrete proof the investor's who got they're money back really exist, and we all know there's a lot of people who pray on investor's who are stuck in bad realestate investment's in the UAE.

What we are interested in is proof they really exist, and got they're money back as I mentioned in the above post. Show me what I requested since you state you got your money back, and that should do the job.

All I'm getting from you, and other unknown forum member's is pumping business to TLG, that's all, and the worst part of all is it's all over the UAE forum where construction is at a stand still, hold, or cancelled.

In short, prove to me, and my fellow investor's who you are, and show me the paper work to back up your story. It's that simple if it's true, if you can't back it up then obviously it's a farse. I don't want other people's number's, nor email's, I want YOUR'S since you very well stated you dealt with the firm, and got your money back.

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