DAMAC Properties has signed a land acquisition agreement with Al Zorah Development Company to develop a mixed-use waterfront residential project in Ajman valued at AED 3 billion, with the first phase set to launch in the first quarter of 2027.
Al Zorah Development Company is a joint venture between the Government of Ajman and Solidere International. The agreement was signed by George Saad, CEO of Al Zorah Development Company, and Amira Sajwani, Managing Director of DAMAC Properties, in the presence of Sheikh Rashid bin Humaid Al Nuaimi, Chairman of the company.
The project will sit along the creek within the Al Zorah master plan and span a planned total built-up area of approximately 1.4 million square feet. The first phase will comprise two residential towers with 421 units across approximately 333,218 square feet, offering studios and one- and two-bedroom apartments alongside two- and three-bedroom loft residences.
The design concept, described as “Oasis Canyon,” draws on Japanese principles of simplicity and connection with nature, translating them into stepped terraces, hanging gardens and landscaped outdoor spaces positioned to face the creek and surrounding mangroves. Amenities across the master plan include swimming pools, yoga and fitness areas, walking trails, an open-air cinema, spa facilities and a waterfront promenade. A dining destination featuring omakase and private dining options is also planned.
Sheikh Rashid bin Humaid said the deal reflects growing developer confidence in Ajman’s investment potential. “Al Zorah plays an important role in achieving this ambition,” he said, framing the partnership as consistent with Ajman Vision 2030’s goals around economic growth and quality of life.
Sajwani described the project as part of DAMAC’s broader UAE expansion. “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,” she said, noting the opportunity to contribute to the emirate’s economic and tourism ambitions.
Saad said DAMAC’s stated intention to expand its presence in Al Zorah over the long term aligns with the company’s strategy of building partnerships that generate sustainable value for the destination.
The project will benefit from Al Zorah’s existing infrastructure, including its championship golf course and established wellness facilities.
