USD 100 million Marsa Ajman is underway

Ajman is on its way to welcoming a new hospitality and retail destination named Marsa Ajman. The project consists of a prominent strip retail development featuring a view of the Marina. The site is located close to prominent properties, the Kempinski Hotel Ajman and Ajman Saray. With a gross leasable area of 9,500 square meters, the venture is expected to feature a varied mix of 49 units and tenants, including a supermarket, department store, entertainment outlets, cafes and restaurants. The project is being developed by Marsa Properties, which is wholly owned by the Ajman Government, Faisal Al Nuaimi, CEO of Marsa Properties Marsa Ajman revealed in an exclusive interview with Hospitality News ME. “Sixty percent of the units are dedicated to F&B, and 40 percent to services and retail,” he said. The project will also showcase the largest dry-deck fountain in the region and two main plazas for events and carnivals as well as 13 kiosks for temporary markets such as Friday Market or seasonal occasions. F&B investors, tourists and residents are the main targets. Investment in Marsa Ajman stands at AED 370 million (USD 100 million) which represents phase one of five for Marina Ajman, according to Al Nuaimi. The total investment of all five phases combined will be AED 1 billion (USD 273 million).