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Old July 25th, 2005, 02:58 PM   #1
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#PROJECT-Umm Al Quwain: AL SALAM CITY

Tameer launches AED 30 billion Al Salam City in Umm Al-Quwain

Tameer Holding recently announced the launch of its latest, largest project - the Al Salam City in Umm Al Quwain. The Project is expected to cost over AED 30 Billion and will be built over an area covering 220 Million Square feet.



Um Al Quwain vice ruler - Al Rajihi & Omar Ayesh during the launch ceremony.


The unique project follows a string of consecutive real estate successes from Tameer, including the Princess Village in Ajman and the Modern Emirates Industrial Area in Umm Al Quwain.

Located at a distinctive location on the Emirates Road, the Al Salam City is an integrated residential & commercial city, consisting of a number of residential districts. The development will house over half a million residents and will include a number of prominent towers. Apart from this, the mammoth project will also realize the construction of parks, playing grounds and entertainment centers. The Al Salam City will also include a unique, colossal shopping mall, which is to be built in a distinctive, architectural style.

The Project is planned to be executed in 3 phases, with each phase expected to cover 5 years with an investment of AED 10 Billion each. The first phase of the Project will include the development of the infrastructure of the whole city, including the 'Down Town' area. The Downtown will house the distinct shopping mall, which will be the first of its kind in the Middle East and the fourth worldwide, after USA, Singapore, and Australia. Another distinguishing feature of the mall will be a huge garden that will extend throughout the mall with water surfaces such as lakes and water falls, in addition to entertainment facilities, restaurants, cafes and retail stores.

The Down Town will also include a main hotel tower composed of more than 50 floors, apart from 20 residential and commercial towers of 20 to 25 floors. The First Phase will also realize the development of residential districts, where the first district will include 1000 residential villas while the second will compose of 200 buildings of 5 to 10 floors.

Development of the first phase of the Project will begin at the end of the current year and it will extend over an area of 15 million feet covering 15 thousand residential units.

The City further consists of mosques, schools, banks, commercial shops and a number of distinct cafes & restaurants, in addition to excellent public facilities characterized by vast streets, huge green spaces, a number of parking areas and entertainment centers.

Omar Ayesh, President of Tameer Holding confirmed that the Al Salam City project is an integrated real estate project in Umm Al-Quwain, open to investors from different nationalities. He said that the project is an extension of Tameer's ongoing success and is a clear representation of Tameer's commitment towards developing quality real estate projects in the UAE. Ayesh also emphasized on the growing importance of the real estate environment in the Emirate of Umm Al-Quwain.

'Following the completion of the highly successful Modern Emirates Industrial Area, the Al Salam City project is Tameer's second project in the Emirate of Umm Al-Quwain. The major real estate development is definitely going to put the Emirate on the regional and global investment map,' said Ayesh.

Tameer had entered Dubai's real estate market through Dubai Princess, the world's tallest residential tower, which is to be registered in the Guinness Book of World Records. The leading real estate firm was also involved in the two projects of Al-Dana in the Global City. Additionally, Tameer ventured into Sharjah's real estate market through Sharjah's tallest residential tower, Princess Tower. Ajman's Princess Village Tower is also well known for its architectural style, focusing on the local environment & heritage.



Dedicated website for investors: www.alsalamcity.biz

Last edited by malec; July 29th, 2008 at 08:06 PM.
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Old July 25th, 2005, 02:59 PM   #2
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let me ask you a question:

WHAT THE HECK IS GOING ON IN UMM AL QUWAIN?

damn, they launched 2 mega projects in 3 days!
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Old July 25th, 2005, 03:20 PM   #3
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keep rollin
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Old July 25th, 2005, 03:34 PM   #4
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lol, great going UAQ. It's funny, who's financing these projects?
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Old July 25th, 2005, 03:54 PM   #5
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^

I dont know if this was mentioned in some articles here.

For this project Tameer which is responsable for building princess tower in Dubai is the developer if this project. It is owned by 50% UAE national amd 50% Saudi Nationals. I dont really know what would be Umm Al Quwain's share in this project. For Umm Al Quwain marina it would be 62% for Middle east Emaar, 20% for the government of UAQ and 18% for another company.
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Old July 25th, 2005, 04:12 PM   #6
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Ive found another source. UAQ will own 23% of AL Salam city project.
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Old July 25th, 2005, 05:45 PM   #7
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Add a few billion and this Dubai land budjet if i am not wrong,is it me or i have the feeling that in the UAE soon their will be a probleme of oversupply.

Maybe after all this is not bad, accomodation in the UAE is quit expensive (at least dubai and abu dhabi) and it can be good to see prices go down a little bit.
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Old July 25th, 2005, 07:04 PM   #8
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I heard about twin towers in this project and they would be the tallest in the region, hence taller than Emirates towers (I don’t know what new name they have got!).
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Old July 25th, 2005, 07:09 PM   #9
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Quote:
Originally Posted by ulb.
Add a few billion and this Dubai land budjet if i am not wrong,is it me or i have the feeling that in the UAE soon their will be a probleme of oversupply.

Maybe after all this is not bad, accomodation in the UAE is quit expensive (at least dubai and abu dhabi) and it can be good to see prices go down a little bit.
You should have seen the DESERT SNOW VILLAGE. It's 50 Billion Dollers.
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إن الحاضر الذي نعيشه الآن على هذه الأرض الطيبة هو انتصار على الماضي وقسوة ظروفه" المرحوم الشيخ زايد بن سلطان آل نهيان
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Old July 26th, 2005, 12:10 AM   #10
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i dont htink there is anymore space left in umal quwain for projects hehe
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Old July 26th, 2005, 12:22 AM   #11
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Old July 26th, 2005, 07:24 AM   #12
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OMG , this is like GREEEEEEN
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Old July 26th, 2005, 07:58 AM   #13
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Tameer to invest Dh30b in UAQ

By Kokila Jacob, Staff Reporter

Dubai : Sharjah-based Tameer Holding yesterday announced a Dh30 billion residential city in Umm Al Quwain designed to accommodate half a million people.
Al Salam City located alongside the Emirates Road is Tameer's largest project covering 220 million square feet.

The agreement was signed on location yesterday by Shaikh Abdullah Bin Rashid Al Mualla, Deputy Ruler of Umm Al Quwain; Omar Ayesh, president of Tameer Holding, and Ahmad Al Rajhi, representing Al Rajhi Banking and Investment Corp of Saudi Arabia.


The project will be completed in three phases, with each one expected to take five years at an investment of Dh10 billion. Work on the first phase will begin by the end of this year and will cover 15 million square feet comprising 15,000 residential units.


Tameer and Al Rajhi each have a 38.5 per cent stake in the project and the Umm Al Quwain government holds the remaining 23 per cent, said Ayesh.

The project will be completed in three phases, with each phase expected to take five years at an investment of Dh10 billion, he said.

Development of the first phase will begin at the end of this year and will extend over 15 million square feet comprising 15,000 residential units.

Ayesh said the project will be initially financed by Tameer but is open to local and foreign investors.

Residential units will be sold on a 99-year lease with residence visas provided for foreign buyers in accordance with local laws, he said.

"Prices will be very competitive and payment terms and conditions will be very easy. There will be an initial 10 per cent deposit followed by financing spread over 15 years after delivery of units," said Ayesh.

"The most attractive selling point is that the monthly mortgage payments will work out less than rents in other emirates," he said.

Tameer Holding was set up in 2003 with a capital base of Dh1 billion.

Sharjah investor Ayesh and the Al Rajhi Banking and Investment Corp, Saudi Arabia's largest listed bank and the largest Islamic bank in the Arab world, are equal shareholders.

Tameer entered Dubai's real estate market through Dubai Princess, one of the tallest residential towers in the UAE.

It has several other ambitious real estate projects underway in Dubai, Sharjah and Ajman.

AT A GLANCE
Main features of the city

The Al Salam City is an integrated residential and commercial city consisting of a number of residential districts, prominent towers, parks, playgrounds and entertainment centres.
The 'Downtown' area will have: a mega shopping mall; a main hotel tower composed of more than 50 floors; 20 residential and commercial towers of 20 to 25 floors; 1,000 residential villas; 200 residential buildings of five to 10 floors.
The City further consists of mosques, schools, banks, commercial shops and a number of distinctive cafes and restaurants.
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Old July 26th, 2005, 10:40 AM   #14
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there's a big ad in today's gulfnews

some captures

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Old July 26th, 2005, 02:31 PM   #15
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renders looks great .. i hope they build it the way it is
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Old July 27th, 2005, 07:23 AM   #16
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Dhs30b property project for UAQ



Close on the heels of Emaar’s dhs12 billion Marina announcement, Umm Al Quwain has announced another mega project: a dhs30 billion Al Salam City. The City will be built by Saudi and UAE investors and will cover about 220 million square feet.

Located along Emirates Road, the development encompasses a residential and commercial city. It will eventually house more than half a million residents and include several prominent towers, parks, playing grounds and entertainment centres, and a massive shopping mall.

The project will be executed in three phases; each phase is expected to cover five years with an investment of ten billion dirhams each. The first phase will include the infrastructure development, including a “Down Town” area. Work is expected to start by the end of this year and will cover 15 million feet.

The president of the UAE firm Tameer Holdings, Omar Ayesh, said foreign nationals would be able to buy homes in the residential and commercial project on a 99-year lease basis.

“Al Salam City is Tameer's second project in the emirate of Umm Al-Quwain. The major real estate development is definitely going to put the emirate on the regional and global investment map,' said Ayesh.

Sharjah-based Tameer Holdings and the Al Rajhi Group of Saudi Arabia each own 38.5 per cent of the project in the northern emirate of Umm Al Quwain. The local government of Umm Al Quwain, which is one of seven that constitute the UAE, holds the remaining 23 per cent.
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Old July 27th, 2005, 01:55 PM   #17
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that huge render reminds me of sports city.
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Old August 2nd, 2005, 03:46 AM   #18
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reminds me of one of those famous chinese CBD projects
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Old August 21st, 2005, 02:11 AM   #19
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woOOOOow
I envy you guys… you really have nice projects

can you bring some of your projects in qatar
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Old August 25th, 2005, 05:24 PM   #20
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Very nice, I like the idea of building new residential areas.
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