Ajman’s new 2 million sq ft project to offer residences, hotel and retail hub
MAG Group inks land deal for waterfront development in Marina 1
DUBAI: Al Zorah Development Company, a joint venture between the Government of Ajman and Solidere International, has signed a strategic land acquisition agreement with MAG Group Holding to develop a premium waterfront destination in Al Zorah City.
The agreement was formalised between George Saad, CEO of Al Zorah Development Company, and Moafaq A. Al Gaddah, Founder and Chairman of MAG Group Holding. The signing ceremony was attended by Salim Fleifel, Chief Commercial Officer of Al Zorah Development Company, and Sarhad Haffar, Regional Director of MAG Group Holding, along with other senior executives from both parties.
The landmark development will transform a 261,180 square foot plot situated in the heart of Al Zorah Marina 1, an area known for its exceptional natural setting and connectivity.
Prime waterfront plot
The project is set to boast a built-up area of approximately two million square feet. Located in one of Ajman's most scenic and strategically positioned neighbourhoods, the development will combine modern infrastructure with coastal aesthetics.
Designed as a comprehensive mixed-use destination, the master plan includes residential units, branded and serviced residences, office spaces, retail facilities, and a hotel. The vision is to create a vibrant urban community that attracts both residents and visitors while embracing environmental stewardship.
Strategic collaboration
Commenting on the partnership, George Saad stated, “We are pleased to welcome MAG Group into Al Zorah City. MAG’s waterfront project will further enrich the range of products that we are offering to investors. This project reflects our dedication to creating sophisticated eco-living environments where innovative urban design and natural beauty coexist in harmony.”
Echoing the sentiment, Moafaq A. Al Gaddah noted, “We are pleased to sign this agreement with Al Zorah, which perfectly aligns with our mandate to expand our portfolio through premium developments across strategic locations. This project reflects our ongoing commitment to creating exceptional living spaces that elevate the standard of urban living for residents and visitors alike.”
Sustainable urban vision
The agreement underscores a mutual commitment to sustainable urban growth. Both parties aim to integrate cutting-edge design and responsible building practices into the development, setting a new benchmark for mixed-use communities in the region.
The waterfront project is expected to contribute significantly to Ajman’s real estate landscape, aligning with broader urban planning goals and investor demand for high-quality, eco-conscious living.
Additional details on the project timeline, investment size, and design specifics will be released at a later stage.