Underlining its optimism towards new prospects in the local industry for the upcoming year, the developer also expressed its high expectations in terms of convenience in obtaining mortgage financing, which will drive more people to move to the emirate.
According to the press release, Ajman's growing strength in the real estate front is being fuelled by the availability of resources that can support various industries as well as residential communities. This includes access to energy at competitive rates and costs, with secured and guaranteed provision and supply on longer terms; raw materials for certain industries and the possibility for extraction of these materials; basic industries for provision of materials required by the finishing and intermediate processing industries; domestic capital and financing; and financial incentives and facilities for investments by many of the domestic and international banks. Furthermore, the press release said that the emirate's convenient location and the development of the infrastructural utilities such as the port, roads and transportation also make it an enviable location for community developments such as 'Ajman Uptown'.
"Over the years, Ajman has witnessed major upgrades as far as infrastructure development is concerned, emerging not only as an attractive site for industrial and manufacturing activities but also as a thriving location for residential projects," said Fahad Sattar Dero, CEO, Sweet Homes Holdings. "Although the emirate, similar to other emirates in the UAE and cities across the region, had been subjected to the harsh realities of the global financial meltdown, it is steadily gaining back its momentum and is on its way to recovery. As the developer of one of the largest residential communities in Ajman, we are looking forward to leveraging the new opportunities as the real estate sector turns around and opens up new prospects for residential and commercial investors alike."
With building works on 'Ajman Uptown' continuing on a 24/7 basis, the developer continues to report significant construction milestones, including the completion of all sub-structures for the 1,504 villas within the massive community development.
"Construction works within 'Ajman Uptown' is proceeding according to our specified timeline, with our appointed subcontractors working continuously to ensure that all processes are completed according to the highest quality standards and in time to hit our delivery deadline. At present, we have completed the sub-structure of all villas, and are currently focusing on the on-going superstructure works for all the VIP villas within the community," concluded Dero.