Solidere International Takes Ajman's Al Zorah to MIPIM Asia
HONG KONG, Nov. 18 /PRNewswire-AsiaNet/ --
- The 'Artisan of Living Cities' to Showcase Growing Profile in Hong Kong
Solidere International, one of the most prominent master and urban developers in the region, will
bring its unique development initiatives to MIPIM Asia, the international property exhibition taking
place at the Hong Kong International Convention & Exhibition Centre from November 19th to 21st.
MIPIM Asia provides an exclusive platform for local developers to network with regional and
international investors looking for opportunities in the Asia-Pacific market.
The centrepiece of Solidere International's presence at MIPIM Asia will be its ambitious US$60
billion, master planned coastal city, Al Zorah, being developed in Ajman, United Arab Emirates. The
master developer's current portfolio also includes Westown Cairo and Eastown Cairo, the two city
centres under development in Cairo, Egypt; revival of Jeddah Central District (Saudi Arabia) and its
waterfront as well as varied projects in Riyadh (Saudi Arabia), Turkey, Portugal and Montenegro.
The master developer, hailed as the 'artisan of living cities', has also been shortlisted for the
'Urbanisation en mer' real estate project in Monaco, following a partnership with 'VINCI', the leading
French construction firm.
Al Zorah is the largest project launched to date in Ajman and brings the city making skills of
Solidere International, famous for its reconstruction of Beirut City Centre, to this newest real estate
and investor destination in the Arabian Gulf. One of the seven emirates that make up the United
Arab Emirates, Ajman is 20 minutes drive from Dubai International Airport, and boasts a long
coastline of pristine beaches, wetlands and rich marine flora and fauna. Recently, Al Zorah Riviera,
the first residential project in the city has been announced at Cityscape Dubai.
"Al Zorah is a transformational initiative that embodies the vision of His Highness Sheikh Humaid
bin Rashid Al Nuaimi, UAE Supreme Council Member and Ruler of Ajman to further enhance
Ajman's reputation as a destination for high-value investment," said Sheikh Rashid Bin Humaid Al
Nuaimi, Chairman of the Al Zorah Development Company.
Dr Nasser Chammaa, Chairman and CEO of Solidere International said that MIPIM Asia will be a
unique opportunity to connect with investors and highlight the significant progress achieved in the
project in less than six months of its launch.
"The concept design stage is complete, construction work of the five major roads has reached an
advanced stage, and now we are in the preliminary and detailed design stage," said Dr Chammaa.
Ajman is already developing its utilities and infrastructure to meet anticipated growth and offer a
sustainable and high quality residential and business environment, said Imad Dana, CEO of Al Zorah
Development Company. "The first coal-driven power plant in the UAE will go on stream in Ajman in
the coming three years, supplying Al Zorah city as well as other projects in Ajman," he added.
Senior officials and representatives of Solidere International will be present at MIPIM Asia Stand
No: 1-G26/J25, Hall No. 1, Level 2, 1 Expo Drive, Wanchai to provide details of projects and respond
to enquiries.
Facts and Figures
- Al Zorah will be developed by the Al Zorah Development Company, a joint
venture between the Government of Ajman and Solidere International
- Solidere International is a subsidiary of Solidere, the Lebanese
Company responsible for the development and reconstruction of Beirut
City Centre
- Solidere International and the Government of Ajman are 50:50 owners in
Al Zorah
- Al Zorah is a freehold, 12 sq km mixed use development on the northern
coast of Ajman
- Located just 25 minutes away from Dubai International Airport, and 10
minutes away from Sharjah International Airport
- The master plan is focused on the preservation of the natural
environment which includes, 30 species of mangroves, more than 20
species of birds, other wildlife, countless coastal fish, trees and
sand dunes
Amenities
- Sixteen kilometres of sandy white beaches and waterside walks
- An 18-hole championship golf course and club house
- Five public marinas, with private marinas adjacent of residential communities, 20 kilometers of
canals and waterways
- 5-star resort hotels
- Retail mall of 200,000 square meters
- Equestrian Centre
- Jogging and horse trekking tracks
- Hospitals and other community healthcare facilities
- Three schools, offering American, French and Indian curriculum
- Public transport facilities
About Al Zorah Development (Private) Company P.S.C.
The Al Zorah Development (Private) Company P.S.C. is a joint venture between the government
of Ajman and Solidere International. It was incorporated on October 31, 2007 as a Free Zone
Company under the laws of Ajman, United Arab Emirates. Its objective is to carry out all business
relevant to the development of the Al Zorah area, as well as acquire land and property and then
market, manage and lease these for the Company or other parties, including real estate brokerage
services. The company's capital is AED4 billion,
About Solidere
Solidere, the Lebanese Company for the Development and Reconstruction of Beirut Central
District, is a joint stock company formed in 1994 to spearhead the reconstruction and development of
Beirut city centre and its restoration to its famed beauty and architectural marvel. Solidere was
capitalized by bringing together property rightholders and cash investors. Over the years the
company has established a track record and a unique interdisciplinary team with practical experience
in urban planning, real estate development, property management and marketing of large scale
developments, including public utilities.
About Solidere International
Solidere International, partly owned by Solidere, is registered in Dubai International Financial
Centre. Other shareholders in the company include individual and institutional investors from the
Middle East and Europe as well as international funds. Drawing on Solidere's 15-year expertise in
urban planning, project consultancy and management, Solidere International offers a complete
package that includes master planning, financing, marketing and management for developers and
planners in the region and beyond.
For more information, please contact:
Nizar Saab/Sara Hamam
ASDA'A Public Relations
Tel: +971-4-3344550, Fax: +971-4-3344556
E-Mail: n.saab@asdaa.com/ s.hamam@asdaa.com
SOURCE: Solidere International
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