The Dh2.7 billion ($762 million) Ajman 1 project is on track with the awarding of the contract for all enabling work to the UAE-based Piling Tech, by Aqaar, the real-estate and property development company headquartered in the Ajman.

Work on the 72,000 sq m mixed-use development was scheduled to start in January.
 “The project is on track, and after negotiating with several enabling contractors, Piling Tech has been appointed to be responsible for all enabling work on phase 1 of the development. The work will take around 140 days, allowing 30 days for mobilisation, with completion by the end of the second quarter of 2007,” said Rami Dabbas, head of real estate development at Ajman Development and Investment Authority (ADIA) and the COO of Aqaar.
 Phase 1, to be completed by 2009, will have 12 freehold residential towers forming the core of the development.
 “We want to ensure that steady progress is maintained by implementing our construction strategy methodically, and align Aqaar with companies which are experts in the construction industry,” added Dabbas.
 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. Ajman 1 will form a seamless fusion of residential, commercial, hospitality and lifestyle elements to support the emirate’s evolution into a niche tourism and business destination.
Dabbas said the project will be a catalyst in terms of developing the emirate, and spearhead the creation of quality residential and commercial projects.
Aqaar is negotiating with several international companies with a view to appointing  the main contractor, and is expected to announce a winner by the end of this month.