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Dubai: The developers of the Dh3.5 billion Eye of Ajman project plan to provide a free-of-charge generator to each of the 109 plots if power supply is not available at the time of delivery.
Developer Bonyan International Investment Group Holding claims the plan has federal approval.
Bonyan officials said they have sold 50 per cent of the plots and aim to sell the rest by May 15 at the official launch at Cityscape, Abu Dhabi.
Eye of Ajman, a community development covering 6.27 million square feet and comprising of multi-purpose plots was unveiled on Saturday.
The project will have a total built-up area of 38 million square feet, which will house schools, hotels, mosque, clinic, health club and an electricity substation amidst an urban landscape of hotels, commercial and residential buildings.
Located in Al Hamidiya, Ajman, the project will offer a direct view of the Emirates Road.
Bonyan is set to complete the infrastructure within the project by 2010 and plots will be handed over within 12 months. There is development flexibility offered in the project along with resale options for all investors.
"We want the project to be completed as soon as possible. Our priority is to sell plots to developers and not investors looking to resell," said Bassam Fino, chief commercial officer, Bonyan group.
The company itself will be developing seven plots.
Officials said the project pricing starts at Dh80 per square foot with the most expensive location costing Dh130 per square foot.
The developer said there will be an escrow account for the project.
The master and pre-construction plans designed by the company's consultant Al Saffarini, have been approved by the municipality of Ajman.
Fino said the development is designed in the shape of a blue eye.
The company aims to expand its project portfolio to Dh10 billion in three years.
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