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Published: 17/06/2007 12:00 AM (UAE)

Majestic Towers in Ajman to offer affordable apartments to expats
Staff Report



Dubai: Monarque Properties and Investments has said that its first venture, Majestic Towers, comprising freehold apartments, "will offer affordable prices for the expat population".

Sujul Bose, brand manager for Monarque Properties and Investments, said what differentiates their development plan from the others is that it offered a competitive pricing structure. He added that this was because the company is aiming to encourage the expat community to climb onto the property ladder.

Bose said: "There are more than 120 different communities residing in Dubai and it looks like this figure will continue to rise. The Dubai government is more liberal towards non-UAE nationals.


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"Now, more expats are making Dubai their permanent place of residence, which is a good opportunity for us, as we are in the position to provide affordable homes for what appears to be a growing sector."

The Majestic Towers, worth Dh250 million, will consist of one- and two-bedroom flats. The smallest will be 739 square feet and will come with an asking price of Dh265,000, going up to Dh445,000 for the largest one.

According to Bose, anyone earning between Dh12,000 and Dh15,000 a month would be able to afford the apartments.

He added: "All that is required is a 10-15 per cent down payment. Then the buyer would pay Dh6,000 a month for two months before moving into their new home."

Situated in Ajman, Monarque Majestic Towers, consisting of two towers, will have 29 storeys. The project will be completed by the middle of 2009.

Riyaz Mohammad, vice-president of Monarque Properties and Investments, said there were plans build three other apartment blocks in Sharjah, Dubai and Abu Dhabi.
 

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#APPROVED:Majestic Towers, 2x30F Res ( Emirates City )



Welcome to a refreshing new concept in the emirate of Ajman where you can add a shade of royalty to daily living.

A masterly combination of elegance and economy like never before now comes to the fore. Monarque Majestic Towers, the prestigious twin tower landmark that will soon change the Ajman skyline. 25 floors of prime living space that would redefine lifestyles for many. Ground plus 4 floors of car parking convenience. Located in The Emirates City at the heart of Ajman - the emirate that blends the best of both worlds. Fast growing and futuristic as well as retaining an old world serenity and charm. Monarque Majestic Towers is situated close to Emirates Road...the lifeline that connects the Northern Emirates with Dubai.

Monarque Majestic Towers. A choice of 1 and 2 bedroom apartments. Spacious living rooms and bedrooms with balcony opening out to enchanting view. Kitchen and toilets functional with a touch of unmistakable class. You will find a flawless finish about everything around.


 
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