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Dubai: R Holdings, a new property developer, yesterday launched a Dh15 billion mixed-use freehold development Emirates City in Ajman. The project near Emirates Road will have about 72 residential and commercial properties with lakes, parks, a shopping district, mosques, five-star hotels besides educational and medical facilities. The towers range between 20 and 50 floors. Shaikh Rashid Bin Humaid Al Nuaimi, chairman of the Ajman Municipality and Planning Department, said, "We envisage that this development, like all major projects under development in the UAE, will continue to draw a large number of international investors." Dr Ahmad Al Samerai, board member of R Holdings, said, "The social and economic benefit that this city will give to Ajman and its neighbouring emirates is not measurable.
"In the Emirates City, there will be more than 25 towers breaking ground in the first phase. The downtown area coming at a later phase will contain a shopping mall featuring all branded retail outlets." "People are looking for affordable prices away from traffic and the noise, while having easy access to their workplaces. All those elements and more will be available in the Emirates City," Al Samerai said.
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