Construction work has started on the first phase of the Dh2.7 billion ($736 million) Ajman One, which is being developed by Aqaar, an Ajman-based real-estate and property development company.

Piling work, being carried out by Piling-tech, is currently under way while the UAE-based Sino Construction Group has been awarded the Dh1.4 billion ($382 million) main construction contract for the mixed-use residential, commercial and hospitality complex.
Ajman One is to be built in two phases over a 72,000 sq m area by early 2010. It will consist of 3,000 apartments housed in 12 freehold residential towers, plus a hotel, a freehold commercial tower, serviced apartments and a tower for leased apartments. The project will be located at the entrance to the emirate’s coast road near the Coral Beach Roundabout in Sharjah and has been master planned to take full advantage of its proximity to Ajman’s pristine beachfront and strategically positioned only 20 minutes away from Dubai International Airport.
The estimated $465 million first phase will have 12 freehold residential towers, which will have 26 to 32 storeys, offering a combination of studio, one, two and three-bedroom apartments, forming the core of the development.  The freehold residential towers will be built on a podium structure allowing up to four storeys of car parking underneath. The residential offering, which will eventually be home to 6,000 residents, targets the mid-range segment and is priced competitively. Residents will be able to utilise services including 24-hour security and full maintenance.
Phase 2 will concentrate on the construction of a world-class hotel to be managed by an international operator, one freehold commercial tower, serviced apartments and a tower for leased apartments. The technologically advanced commercial tower will form the centre point of the business offerings. State-of-the-art features have been integrated into the structure to create an efficient and comfortable work environment.
The Ajman 1 will feature a retail area, which will house a convenient supermarket, restaurants and a community centre complete with men’s and women’s gyms, indoor and outdoor playgrounds for children, and two swimming pools.
The entire development will include a world-class hotel with serviced apartments and a convention centre, which will be managed by an international operator. There will also be three other freehold commercial towers, making a total of 16 towers in all.
The architect of the project is National Engineering Bureau (NEB).
Riding on the rapid improvement in infrastructure facilities in the Northern Emirates, the Ajman One project has reached near sellout status, within six months of its launch.
“Ajman is the new real estate hotspot in the UAE,” explains Rami Dabbas, CEO of Aqaar. “The success of the Ajman One project points to the growing profile of the Northern Emirates among both regional and international investors.”
After the opening up of the Ajman real estate sector in 2004, the region has succeeded in attracting commercial and hospitality investors as well as developers who are launching properties with international standards in the fast developing emirate, he adds.
Aqaar – which translates from Arabic as 'Property' – was formed in 2006 in association with Ajman Development and Investment Authority (ADIA) to spearhead the expansion of Ajman into a successful tourism and business hub.
Leading property services company Asteco exclusively manages the sales and leasing for Ajman One, which complements the company’s other projects in the Northern Emirates such as Bab Al Bahr in Marjan Island, Ras Al Khaimah.