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#PROJECT: AL AMEERA VILLAGE

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Freehold property unveiled in Ajman

Staff Report

Dubai: Tameer Holdings, a UAE-based property developer, is building a Dh1.1 billion residential and commercial project in Ajman.
Al Ameera Village is Tameer's first venture in Ajman. The firm's previous ventures include properties in Dubai, Sharjah and Umm Al Quwain. It will cover an area of about 3 million square feet.

Located on the Emirates ring road, about 15 minutes from Dubai, the project will consist of 50 traditionally designed residential buildings, hotel apartments, commercial areas and a shopping mall.

The mall will feature a 500 metre board walk surrounded by gardens, water fountains, coffee shops, restaurants and other facilities.

"Being a freehold property, Al Ameera Village will be available to investors from all nationalities. The project will provide investors with excellent facilities in a superb location.

"Furthermore the development will enhance the flow of foreign direct investment into the UAE real estate market," said Omar Ayesh, president of Tameer Holdings.
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Tameer enters Ajman with Al Ameera Village

Tameer Holdings recently announced the development of a USD 300m residential and commercial project in Ajman.


An artist's impression of Al Ameera Village.

Covering an area of approximately 3 million sq. feet, the project, named "Al Ameera Village", will be modeled as a modern city with facilities including a mall, sports centers, mosques, parks and other recreational & shopping facilities. In their tradition of successful property developments in Dubai, Sharjah, Umm Al Quwain, "Al Ameera Village" is Tameer's first venture in Ajman.

With rapid development in Ajman, Tameer will now add on to the emirate's growth with the development of "Al Ameera Village". Ideally located on the Emirates Ring road, only 15 minutes from Dubai, the project will consist of 50 traditionally designed residential buildings, hotel apartments, commercial areas and a shopping mall. The mall will be a major attraction with unique features including a 500 meter board walk surrounded with gardens, water fountains, coffee shops, restaurants and other facilities, designed to reflect the old "Turath" concept.

Commenting on Tameer's latest project, Omar Ayesh, President of Tameer Holdings declared that, Tameer started its journey of building landmark projects such as the "Princess Tower", currently being registered with the Guinnies Book of Records as the tallest residential tower in the world. This is in addition to "Al Ameera", the tallest tower in Sharjah. In light of the dynamic growth of Ajman, we are poised to enter Ajman's growing property market with the unique Al Ameera project.'

'Being a freehold property, Al Ameera Village will be available to investors from all nationalities. The project will provide investors with excellent facilities in a superb location. Furthermore the development will enhance the flow of foreign direct investment into the UAE real estate market,' he added.

Apart from the architecturally rich buildings, Al Ameera Village will include functional aspects including spacious streets and side walks, convenient parking spaces and more amenities.

In addition to major residential and commercial projects, Tameer undertook the development of the Emirates Industrial Area in Umm Al Quwain, With focus on building a highly functional industrial environment, the project was sold as fast as it was announced.
Tameer opens sale of its AED 1.2 billion Al Ameera Village Project in Ajman

Tameer Holding (Tameer), one of the leading commercial, industrial and residential real estate development conglomerates in the Middle East, has announced that it is opening the entire residential component of its latest project - the AED 1.2 billion Al Ameera Village in Ajman - for sale on the first day of the Cityscape exhibition in Dubai.


An artist's impression of the entrance of Am Ameera project.


The sale of 42 heritage-styled buildings and 161 plots in Al Ameera Village, is among the largest single releases of freehold residential real-estate ever in the Middle East. Further, a senior spokesperson of the company also announced that advanced earthworks for the development was currently underway and was expected to be completed by the end of November. The project is due to be completed by end-2007.

Making these key announcements, Mr. Omar Ayesh, President, Tameer said:
'As with all our projects, Al Ameera Village too has been conceived as a dynamic infrastructure development that is strategically located and offers an attractive Return on Investment to investors. Reflecting the forward-looking and investor-friendly outlook of the Government of Ajman, Al Ameera Village is located close to the bustling metropolis of Dubai, while retaining the languid charm of a seaside development.'


Al Ameera Village in Ajman is a mixed-use infrastructure development on the Emirates Road, a mere 15 minutes from the Dubai International Airport, and spans an array of heritage styled residential buildings, a five star hotel, hotel apartments and a shopping mall across an area of 500,000 square metres.


'The 42 buildings that will open for sale range in height from 3-10 floors. Each of the 161 plots that constitute the development are 10,000 sq. ft in area, and will be sold to developers for the construction of buildings up to 10 floors in height,'
he added.

Tameer, which has been incorporated as a partnership between the leading Al Rajhi Investment Group in Saudi Arabia and Tameer Real Estate Establishment, had announced that its investment portfolio in an array of trailblazing projects across the UAE has crossed over AED 40 billion.

Apart from Al Ameera Village, the company's other significant projects include the AED 30 billion Al Salam City of Umm Al Quwain which will be developed on an estimated area of 220 million square feet; the Princess Towers in Dubai Marina, the tallest residential building in the world; the Dana 1 and 2 developments in International City in Dubai; and the Emirates Modern Industrial Area, also in Umm Al Quwain.

Mr. Ayesh further said that the company's decision to release the project's entire residential inventory at one go, stemmed from the substantial investor interest that it had generated in the last seven days, when it was previewed to key investors and real-estate brokers from across the UAE and region.


'Tameer has always been known for its out-of-the-box and innovative approach to real-estate development and Al Ameera Village is one such venture. We are confident that during the three days of the Cityscape exhibition we will sell most if not all our inventory to strategic investors across the region.'


Providing an update on other development related details of the project, Mr. Ayesh said that advanced earthworks on the entire project had already commenced and were scheduled to be completed by the end of November 2005.
'Over the next few weeks we will be finalizing the tendering process for various aspects of the development, which is due for completion by the end of 2007.'
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