MANAMA, 11 May 2008 — Bonyan International Investment Group, one of the leading real estate companies based in Dubai, announced the launch of its “Eye of Ajman”, an 3.5 billion-UAE-dirham ($933 million) community development spread over 6.27 million square feet and comprising of 109 multi-purpose plots.
Strategically located along Emirates Road in the Al-Hamidiyah area, the development is Bonyan’s first project in Ajman and will comprise residential, office, hospitality and retail plots. In line with its aim to provide outstanding residential and commercial plots that offer high return on investment to local and foreign investors, the developer will hold a sales road show in Dubai today.
Located 20 minutes from Dubai, the “Eye of Ajman” project is an accessible community development, which is comprised of well-appointed plots to provide an outstanding site for mixed-use developments, with a strategically outlined network of roads to facilitate smooth traffic within the city.
The developer has committed toward ensuring electricity supply upon occupancy in the plots, which are being offered on a 100 percent freehold basis with attractive payment terms.
“We are truly proud to launch the “Eye of Ajman” project, as this reiterates our strong presence in the UAE’s real estate market,” said Abdullah Atatreh, chairman, Bonyan International Investment Group. “We have identified Ajman to be the perfect location for our flagship project that is based on the sale of mixed use plots, due to its rapid advancements in infrastructure and land ownership legislation. We are sure that “Eye of Ajman” will play a significant role in the continuing growth of Ajman as a business hub by attracting huge investments from across the region.”
The project has been designed to give a stunning representation of the “Eye of Ajman” concept, where a number of plots within the main garden will accommodate buildings within a specific distribution plan to take the form of a human eye. The community development will have a total built up area of 38 million sq. ft, which will also house schools, hotels, a mosque, a clinic, health club and an electric sub station amidst a sprawling urban landscape. In addition, Bonyan is set to develop the complete infrastructure within the project by 2010 and is also offering total development flexibility within the project along with resale options for all investors.