South Koreans on board for new Ajman project

30 December 2007
The local Real Estate Investment Establishment and South Korea’s DSEC International plan to develop a $4bn development in the emirate of Ajman.

The project will involve the construction of commercial centres, residential apartments, towers, villas, hotels, restaurants, retail and shopping malls. Landscaping will occupy about 60 percent of the total land area. Construction is expected to start in September.

'Two months from now the master plan will be ready for Ajman municipality's approval of the environmental aspects of the project, and by mid-2008 the ground-breaking is expected,' DSEC International president and chief executive Sungdol Kim said.

It is the latest major project to be launched in Ajman. Over the last two years it has launched Emirates City, Ajman-1, and Ajman Marina (MEED 28:9:07).

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