Negotiations are under way for the enabling works contract for the Dh2.1 billion ($762 million) Ajman 1 project with its developer Aqaar expected to appoint the main contractor by March end.

According to Aqaar, the initial enabling works contract is worth Dh70 million ($19 million).
The super-structure construction of phase one of the 72,000 sq m project will get off the ground by the second half of this year.
“We are negotiating with several international contractors on all aspects of construction on Ajman 1. Aligning Aqaar with industry experts will ultimately help to deliver on our promises,” said Rami Dabbas, COO, Aqaar and Head of Real Estate Development, ADIA.
Phase one, which is to be completed by 2009, will have 12 freehold residential towers that will form the core of the development. The entire project, to be completed by 2010, will house a world-class hotel to be managed by an international operator, a freehold commercial tower, serviced apartments and a tower for leased apartments.
“Plans are on track for work to begin on phase one of Ajman 1 and we are concentrating on making sure that a solid foundation is in place so that construction will remain on course and progress methodically so that everything is delivered on time,” added Dabbas.
Ajman 1 will form a seamless fusion of residential, commercial, hospitality and lifestyle elements, with the UAE-based National Engineering Bureau, one of the country's leading design consultants, behind the project's master plan.
Aqaar – which translates from Arabic as ‘Property’ – was formed in 2006 as a semi-governmental company in association with Ajman Development and Investment Authority (AIDA).