Memon to Make Ajman Forays

DUBAI - Real estate firm Memon Investments will make forays this year into Ajman which it sees as fast-becoming an attractive alternative for property developers.



“We are focusing much of our resources in identifying viable locations for future projects, and our search has taken us to Ajman, whose development is continually shaping the emirate to be the next important real estate destination in the region,” said Muzammil Shaikhani, Director of Memon Investments.

Memon Investments, a unit of UAE conglomerate Memon Group of Companies aims to replicate its successes in Dubai. For its Ajman expansion, Memon Investments will focus on high quality, affordable residential projects that will cater to middle-income families.

Shaikhani said Ajman’s rapid development of its infrastructure is already encouraging property companies to expand into the emirate.

The Ajman government has invested some $375 million in building roads and intersections, bridges, as well as maintenance and renovation of public facilities in 2008. This figure is almost thrice the amount budgeted for infrastructure projects in 2007.

Another major attraction is the planned construction of an international airport at the emirate’s Al Manama district.

· rocel@khaleejtimes.com


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