DAMAC Announces AED3 Billion Waterfront Residential Development in Ajman's Al Zorah
The new mixed-use project will cover approximately 1.4 million sq. ft., with its first phase featuring two residential towers and 421 homes scheduled for launch in early 2027.
Ajman's real estate sector is set to receive a major investment boost following a new partnership between DAMAC Properties and Al Zorah Development Company to develop a AED3 billion waterfront residential destination.
The agreement involves the acquisition of land within Al Zorah, a coastal development known for its natural surroundings and established leisure facilities. The proposed project will have an overall built-up area of approximately 1.4 million square feet and represents the beginning of a wider investment relationship between the two companies.
Al Zorah Development Company is a joint venture between the Government of Ajman and Solidere International.
The first development phase is expected to enter the market during the first quarter of 2027. It will comprise two residential towers containing 421 homes, with a combined built-up area of approximately 333,218 square feet.
First Phase to Offer Apartments and Loft Residences
The initial release will introduce several residential configurations to accommodate different buyer requirements.
The planned selection includes studio apartments, one- and two-bedroom homes, as well as larger two- and three-bedroom loft residences.
The development is being planned around a residential concept that combines contemporary architecture with the natural coastal environment of Al Zorah.
Its architectural approach, described as Oasis Canyon, takes inspiration from natural landscapes and translates those elements into a vertical residential setting. The proposed design incorporates stepped terraces, elevated gardens and generous outdoor spaces.
Buildings will be positioned to provide greater separation between residential areas, with selected homes and communal spaces benefiting from views of the surrounding creek and mangrove landscape.
Wellness and Leisure Facilities Form Part of the Masterplan
Beyond residential accommodation, the project is expected to incorporate a range of lifestyle facilities designed around recreation, relaxation and outdoor activities.
Proposed amenities include swimming pools, landscaped gardens, dedicated yoga and fitness areas, children's facilities and walking paths.
Additional facilities are planned to include a waterfront promenade, spa and wellness spaces, an open-air cinema and water-based recreational activities.
The masterplan also предусматривает dining and hospitality elements, including a waterfront restaurant concept with private dining spaces and an omakase experience. The companies are exploring potential collaborations with hospitality, wellness and lifestyle brands to support these offerings.
The development will also benefit from Al Zorah's existing infrastructure and leisure destinations, including its championship golf course and established hospitality facilities.
DAMAC Partnership Supports Al Zorah's Expansion Plans
The agreement was signed by George Saad, CEO of Al Zorah Development Company, and Amira Sajwani, Managing Director of DAMAC Properties, in the presence of Sheikh Rashid bin Humaid Al Nuaimi, Chairman of Al Zorah Development Company.
Sheikh Rashid said the partnership reflects the growing interest of major property developers in Ajman's investment opportunities. He also highlighted the importance of attracting strategic investments that support the objectives of Ajman Vision 2030.
He noted that Al Zorah is expected to contribute to the emirate's ambitions by strengthening its residential appeal, supporting economic activity and creating opportunities for sustainable development.
George Saad described the agreement as another milestone in Al Zorah's development strategy. He said the proposed project would introduce a new residential and lifestyle concept focused on architecture, natural surroundings and wellbeing.
DAMAC's Amira Sajwani said the investment reflects the company's confidence in Ajman's long-term development plans and forms part of its wider expansion across the UAE.
She added that the partnership is intended to support the emirate's economic and tourism ambitions while creating a residential destination with lasting value.
Al Zorah Strengthens Its Position in Ajman's Waterfront Property Market
The AED3 billion agreement adds another major residential investment to Al Zorah, where the combination of coastal landscapes, green spaces and established leisure infrastructure provides a distinctive setting for property development.
The proposed project also reflects the continued interest of established developers in destinations beyond Dubai and Abu Dhabi, as Ajman works to expand its residential and tourism offerings.
With 421 homes planned in the first phase and a wider development area of approximately 1.4 million square feet, the DAMAC partnership represents a significant addition to Al Zorah's long-term development pipeline.
The first phase is expected to launch in the first quarter of 2027, marking the initial stage of what the companies describe as a broader investment relationship in the Ajman destination.
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