11/11/2026 04:26 AST
Leading UAE developer Damac Properties has entered into a land acquisition agreement with Al Zorah Development Company, a joint venture between the Government of Ajman and Solidere International, to build a mixed-use waterfront residential project in Ajman at an investment of AED3 billion ($816 million).
The project marks the beginning of broader, long-term investments by Damac in Al Zorah, supporting its continued growth as an integrated coastal community, said senior officials at the signing ceremony held in the presence of Al Zorah Development Company Chairman Sheikh Rashid bin Humaid Al Nuaimi.
The land acquisition agreement was sealed by Al Zorah CEO George Saad and Damac Properties Managing Director Amira Sajwani in the presence of senior officials from both companies.
Speaking on the occasion, Sheikh Rashid said the agreement with Damac Properties reflects growing confidence among leading developers in Ajman's investment potential and Al Zorah's long-term vision.
He added that, in line with Ajman Vision 2030, efforts remain focused on attracting investments that support economic growth, enhance quality of life and strengthen the emirate's appeal as a destination to live, visit and invest.
"Al Zorah plays an important role in achieving this ambition, adding that strategic partnerships such as this will support its continued development as a distinctive coastal destination and create sustainable value for Ajman," he added.
Located along the creek within Al Zorah district, the project will have a planned total built-up area of 1.4 million sq ft. The first phase is expected to be launched in Q1 2027 and will comprise two residential towers featuring 421 units, with a total built-up area of approximately 333,218 sq ft.
Residential units in the first phase will range from studios and one- and two-bedroom apartments to larger contemporary two- and three-bedroom loft residences. The project has been designed as a tranquil neighbourhood within Al Zorah's master plan, drawing inspiration from Japanese principles of simplicity, serenity and connection with nature.
Its design combines contemporary architecture with landscaped green spaces and water features, while residential buildings and communal areas will be positioned to offer views of the creek and surrounding mangroves. Generous spacing between buildings will also provide a greater sense of openness and privacy.
On the Damac tieup, Saad said it marks another step in Al Zorah's development journey. "The proposed residential community will introduce a distinctive architectural and lifestyle concept to the waterfront, focusing on natural spaces, health and wellbeing, and the relationship between homes and their surroundings," he stated.
Saad added that Damac's interest in expanding its presence in Al Zorah over the long term aligns with the company's commitment to building strategic partnerships that generate sustainable value and support the destination's continued growth.
Sajwani said the investment in Al Zorah represents an important step in Damac's expansion across the UAE and reflects its confidence in Ajman's long-term development plans.
"The project presents opportunities within the emirate's vision to strengthen its economic and tourism assets, attract further investment and consolidate its position as a leading destination in the UAE, she noted.
The architectural concept draws on the 'Oasis Canyon' design, reinterpreting natural landscapes within a vertical urban setting through stepped terraces, hanging gardens and expansive outdoor spaces. The approach aims to create a residential experience integrated with Al Zorah's natural coastal environment.
The project's master plan includes a range of proposed amenities, including swimming pools, landscaped gardens, yoga and fitness areas, children's facilities, walking trails and water-based leisure activities.
It will also feature an open-air cinema, spa and wellness facilities and a waterfront promenade.
Wellness and hospitality form central elements of the project's vision, with potential partnerships being explored with brands operating in these sectors, as well as lifestyle and dining brands.
"The partnership aims to contribute to that vision by developing a destination that creates sustainable long-term value, enhances quality of life and strengthens Ajman's appeal as a place to live, work, and visit," she added.
According to Damac, the project will benefit from Al Zorah's existing infrastructure, green spaces and integrated leisure facilities, including its championship golf course and established wellness and hospitality destinations.
The development also features a dining destination offering intimate omakase experiences, private dining options and a waterfront terrace, complementing the community's focus on nature, wellbeing and waterfront living.
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