DAMAC Signs Land Deal for AED3 Billion Waterfront Project in Ajman's Al Zorah

Al Zorah Development Company is a joint venture between the Government of Ajman and Solidere International, and is chaired by Sheikh Rashid bin Humaid Al Nuaimi, who attended the signing. George Saad, chief executive of Al Zorah Development Company, and Amira Sajwani, managing director of DAMAC Properties, signed the agreement, according to a statement carried by the state news agency WAM.

The deal is one of the larger developer commitments in Ajman, which has drawn less investment than Dubai and Abu Dhabi. The companies said it is the start of broader, long-term investment by DAMAC in Al Zorah. The price paid for the land was not disclosed.

The project sits along the creek inside Al Zorah and is planned to have a total built-up area of about 1.4 million square feet. The first phase is expected to launch in the first quarter of 2027. It will have two residential towers with 421 units and a built-up area of about 333,218 square feet, ranging from studios to two- and three-bedroom lofts.

The companies said the design draws on Japanese principles of simplicity and closeness to nature, with stepped terraces and hanging gardens, and buildings placed to look over the creek and nearby mangroves. Planned amenities include pools, fitness areas, walking trails, an open-air cinema, a spa and a waterfront promenade. The developers said they are exploring partnerships with wellness, hospitality and dining brands.

Sheikh Rashid said the agreement reflected growing confidence among leading developers in Ajman's investment potential, and tied it to the emirate's Ajman Vision 2030 plan. Sajwani said the investment was an important step in DAMAC's expansion across the UAE and showed its confidence in Ajman's long-term development plans.

The project will use Al Zorah's existing infrastructure, including its championship golf course. Sales details for the first phase have not been announced ahead of the planned launch in early 2027.