Ajman To Add 150,000 Housing Units Within Next 3 Years

Sweet Homes Holdings, or SHH, a UAE-based developer and multi-service provider to the real estate sector, has announced that it will be one among the few real estate players who will be able to deliver projects from its Dh4.7 billion portfolio by 2010. In a Press statement issued on Tuesday the company stated that approximately 150,000 housing units will be completed in Ajman within the next three years. This includes high profile residential properties such as the luxurious villas within ‘Ajman Uptown’ and state-of-the-art apartments within ‘Rainbow Towers’. In line with the regulations set by the Ajman Real Estate Regulatory Authority or ARRA, Sweet Homes Holdings has recently announced that it has signed an agreement with Dubai Islamic Bank for the escrow accounts of its ‘Ajman Uptown’ and ‘Rainbow Towers’ projects. This follows the developer’s registration with the ARRA, which made it one of the first master developers to adhere to the rules set by the newly-formed agency. Furthermore, SHH has taken on all aspects of development within ‘Ajman Uptown’, with its construction arm — Sweet Homes General Contracting undertaking the Dh2.2 billion main contract, as well as the project’s initial groundworks.