10 November 2026
DAMAC Properties will develop a mixed-use residential waterfront project valued at AED 3 billion in Al Zorah, Ajman. The land acquisition agreement with Al Zorah Development Company, a joint venture between the Government of Ajman and Solidere International, was announced by the Ajman Government Media Office on Tuesday, 10 November 2026. The project will have a planned total built-up area of approximately 1.4 million square feet, and its first phase, two residential towers with 421 units, is scheduled to launch in the first quarter of 2027.
What was signed on 10 November 2026
The agreement was signed in the presence of Sheikh Rashid bin Humaid Al Nuaimi, Chairman of Al Zorah Development Company. George Saad, Chief Executive Officer of Al Zorah Development Company, and Amira Sajwani, Managing Director of DAMAC Properties, signed the document in the presence of senior executives from both companies. According to the official announcement, the project marks the beginning of a broader, long-term investment by DAMAC in Al Zorah.
The key terms published so far:
- Type of deal: land acquisition agreement between Al Zorah Development Company and DAMAC Properties.
- Project value: AED 3 billion.
- Location: along the creek within Al Zorah, Ajman.
- Planned total built-up area: approximately 1.4 million square feet.
- First phase: two residential towers with 421 units and a total built-up area of approximately 333,218 square feet.
- Launch of the first phase: first quarter of 2027.
“Our agreement with DAMAC Properties reflects the growing confidence of leading developers in Ajman’s investment potential and Al Zorah’s long-term vision,” Sheikh Rashid bin Humaid said. He linked the deal to Ajman Vision 2030 and the emirate’s focus on attracting investment.
The first phase: 421 homes in two towers
Residential units in the first phase will range from studios to one-bedroom and two-bedroom apartments, as well as two-bedroom and three-bedroom loft residences. The two towers account for about 24% of the planned built-up area of the whole project. The number of later phases, their timing and the total number of homes in the project have not been announced.
Prices, payment plans, the expected handover date of the first phase and the name of the project were not included in the announcement. For a buyer this means that the commercial terms will only become known at launch, which is scheduled for the first quarter of 2027.
Design concept and planned amenities
The project is conceived as a quiet neighbourhood within the Al Zorah master plan, drawing on Japanese principles of simplicity, serenity and harmony with nature. Residential buildings and communal areas will be positioned to maximise views of the creek and the surrounding mangroves, with generous spacing between buildings for openness and privacy.
The architectural concept is called “Oasis Canyon”. It reinterprets natural landscapes within a vertical development through stepped terraces, hanging gardens and large outdoor spaces. The proposed amenities include:
- swimming pools, landscaped gardens, yoga and fitness areas;
- children’s facilities, walking trails and water-based leisure activities;
- an open-air cinema, spa and wellness facilities;
- a waterfront promenade;
- a dining destination with omakase experiences, private dining options and a waterfront terrace.
According to the announcement, potential partnerships with wellness, hospitality, lifestyle and dining brands are being explored. No operator has been named yet. Residents will also have access to the existing Al Zorah infrastructure, including its championship golf course and established wellness and hospitality destinations.
Al Zorah and its earlier land deals
Al Zorah is a coastal destination in Ajman developed by Al Zorah Development Company, the joint venture of the Government of Ajman and Solidere International. The DAMAC agreement follows a similar land deal earlier this year. On 29 January 2026 the Ajman Government Media Office reported that Al Zorah had signed a land acquisition agreement with Samana Real Estate Development Company for an upscale mixed-use waterfront destination in Al Zorah City valued at AED 2.7 billion. That project includes more than 2,000 residential units on a 576,908 square foot plot in Al Zorah Marina 1, next to the natural mangrove reserve.
Ajman has seen other large residential plans this year as well, for example the GJ Properties masterplan in Ajman.
What buyers and investors should check
Off-plan projects in Ajman are registered by the Department of Land and Real Estate Regulation in its Real Estate Projects Register. According to the Ajman government service catalogue, the developer submits, among other documents, the escrow account agreement with the escrow account trustee and a projected deposit plan for the escrow account based on project sales. Before paying a booking amount for any off-plan unit, it makes sense to:
- confirm that the project is registered with the Department of Land and Real Estate Regulation in Ajman;
- make payments only to the escrow account of the specific project named in the sale contract;
- check the payment plan, the handover date and the penalties for late payment in the contract itself, not in the brochure;
- decide in advance whether the unit will be owned personally or through a company, since this affects financing, residency options and exit.
Property can also be linked to residency. The official UAE government portal u.ae lists a minimum of AED 2 million for real estate investors applying for a Golden Visa; the details are in our UAE residency visa guide. Buyers who plan to finance the purchase can compare the conditions for residents and non-residents in our guide to mortgages in the UAE.
How Atlant Capital can help
Atlant Capital works with entrepreneurs and investors who buy property in the UAE and set up a structure around it. We help decide whether to hold real estate personally or through a company, register the company and open bank accounts, and arrange residence visas for owners and their families. If you are looking at Ajman or another emirate for an investment, see our company setup page, or contact us to discuss a specific case.
Conclusion
DAMAC Properties has signed a land acquisition agreement with Al Zorah Development Company for an AED 3 billion mixed-use residential waterfront project along the creek in Al Zorah, Ajman, announced on 10 November 2026. The project has a planned built-up area of about 1.4 million square feet, and the first phase of two towers with 421 units is scheduled to launch in the first quarter of 2027. Prices, payment plans and the handover date have not been published yet.
Source: Ajman Government Media Office, Travels Dubai.
FAQ
What is DAMAC building in Al Zorah, Ajman?
DAMAC Properties will develop a mixed-use residential waterfront project valued at AED 3 billion along the creek in Al Zorah, Ajman. The land acquisition agreement with Al Zorah Development Company, a joint venture of the Government of Ajman and Solidere International, was announced on 10 November 2026. The planned total built-up area is about 1.4 million square feet.
When will the first phase of the DAMAC Al Zorah project launch?
The first phase is scheduled to launch in the first quarter of 2027. It will comprise two residential towers with 421 units and a total built-up area of approximately 333,218 square feet. Prices, payment plans and the handover date were not part of the announcement.
What types of apartments will the DAMAC Al Zorah project offer?
The first phase will include studios, one-bedroom and two-bedroom apartments, as well as two-bedroom and three-bedroom loft residences. The design follows the “Oasis Canyon” concept with stepped terraces and hanging gardens, and the buildings are planned to face the creek and the mangroves.
Who owns Al Zorah Development Company?
Al Zorah Development Company is a joint venture between the Government of Ajman and Solidere International. Its chairman is Sheikh Rashid bin Humaid Al Nuaimi, and its chief executive officer is George Saad. In January 2026 the company also signed an AED 2.7 billion land deal with Samana Real Estate Development Company in Al Zorah City.
