Ajman Property Boost Following Metro Extension Proposals
Released on: July 23, 2008, 11:18 pm
Press Release Author: Zuber Mohsan
Industry: Management
Press Release Summary: Proposals to extend the Dubai Metro to neighbouring Ajman are currently being discussed. The plans, still in the early stages, would be welcome news for investors who own properties in Ajman.
Press Release Body: Lancashire, UK, July 24, 2008 -- Proposals to extend the Dubai Metro to neighbouring Ajman are currently being discussed. The plans, still in the early stages, would be welcome news for investors who own properties in Ajman.
According to the proposal, the metro will pass through Emirates Road to Al Corniche in Ajman. From there it will go to Al Zawra and then onto new investment areas currently under development.
Sheikh Rashid bin Humaid Al Nuaimi, Chairman of Ajman Municipality and Planning Department has stressed that the proposal is only in discussion stage and many considerations still have to be made before anything is finalised.
Investors looking to buy Ajman property will be following the discussions with interest, as any extension announcement is certain to push up the value of off-plan properties in Ajman.
Zuber Mohsan, CEO for Dubai-based sandastles-property.com commented: \"Infrastructure plays a crucial role in any developing area and if these proposals to extend the Dubai Metro to Ajman come to fruition, then existing investors will certainly reap the benefits as prices for off-plan properties in Ajman will rocket.\"
\"Prices of property in Ajman are currently a third of what they are in Dubai, and with industry experts already predicting an increase in Ajman property prices of up to 100% within the 12 months, any definite announcement of a Metro extension for Ajman will certainly fuel further growth,\" added Mohsan.
Construction of the Dubai Metro system is well underway with the first line (Red Line) due to open in September 2009 and the entire system scheduled to be fully operational by 2012. British-based international services company Serco, who also run the DLR in London, will operate and maintain services, including trains, tracks, stations and associated facilities in a contract said to be worth 500m over 12 years.
Up to 600,000 passenger journeys per day are forecast by the Dubai RTA, with extensive park-and-ride facilities to encourage car users on to the trains. The first of 87 five-car metro trains, built by Kinkisharyo, of Japan, was delivered in March and has already been tested up to 92 kmh (57 mph).
The Red Line will immediately achieve another Dubai \'first\' - becoming the largest, driverless automated metro system in the world.
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