Al Humaid City, Ajman - U.A.E.

[AliRaza]

Al Owais Heights is located in AL Humaid City, Ajman. One of the most upcoming emirates, Ajman is well-known for its beautiful beaches, close proximity to all major landmarks, and user friendly policies for buying of property and obtaining freehold status.

Located on the Emirates Road, Al Humaid City is a completely self-contained city, featuring residential towers, as well as world class medical, educational, hotel and shopping facilities. R-Holding will be the controllers for the escrow accounts for this project, guaranteeing the financial safety of the customers. The master developer is Al Rashid. Al Humaid City is designed and planned by Adnan Saffirini, who is also the master developer for Emirates City, and is the most well-designed development in Ajman, created around an extraordinarily large sized lakes, which provide the focal point for the city.

At Al Owais Heights, you are within a stone’s throw of any place worth visiting. While your home in restful AL Humaid City provides a haven of calm and serenity, your ideal location on the Emirates Road means that Sharjah International Airport is just 7 minutes away; Dubai International Airport, about 20 minutes’ drive, and world class shopping at Deira City Centre, just 25 minutes away. Al Owais Heights is also connected to all major trading areas and business hubs – you can reach the Business Bay in about 25 minutes, Ha***ya Free Zone in 5 minutes, Umm al Quwain in 10 minutes, Ras al Khaimah in 30 minutes and the north Jebel Ali Free Zone in about 35 minutes.

Any view on this city, please share

 

[fahd]

Tell me more about Ajman. I heard that there will be Electricity and water problem there....
Is it true???

 

[fahd]

also tell me about the construction of the Project, is it started. if not, when can we axpect the costruction started???????????

 

[AliRaza]

Ajman Electricity problem is already solved as ajman government had signed a multi billion agreement with one malaysian firm as quoted below


Source: Gulf News Date: 18 July 2008

Ajman signs multi-billion dollar agreement to set up power plant.

Ajman - Shaikh Humaid bin Rashid Al Nuaimi, supreme council member and Ruler of Ajman witnessed here yesterday the signing of agreement between the Ajman government and MMC of Malaysia to set up in Ajman a 1000-megawatt power plant at a total cost of $2 billion.

In a statement after the signing of the agreement, Shaikh Rashid said the main aim of establishing the coal-driven power plant is to provide enough electricity to the new real estate projects that would be executed in the near future in Ajman, adding that the power plant would be completed within a maximum period of three and a half years. He hinted that two power plants built by the Federal Electricity and Water Authority will start operating in the next few months to provide electricity to the completed building projects until the new power plant projects is completed by MMC malaysia, which will fund the project on a Build, Operate and Transfer (bot) basis in 20 years time.

 

[AliRaza]

also tell me about the construction of the Project, is it started. if not, when can we axpect the costruction started???????????

Construction will start in Dec, 2008 thats why the prices are still prelaunch prices

 

[Saeid]

That's a bunch of none sense. Ajman's Electricity problems are far from over. There are many residential buildings that are running on generators, costing the owners close to 2,000,000 a year in Diesel fuel, because Ajman can not and will not give them power.

we built a house in Mohiyat in Ajman. we are now being told that only emiraties will get W/E.

I can see why sales agents for Real Estate companies would lie to potential clients. After all when the government cheats the expats by allowing them to buy land and then giving them building permit, and then deny them their right to have W/E, what can you expect from a Real Estate Agent?

The bust in the Real Estate market is well deserved.

My advise to you, if you want to buy, ONLY buy if you plan on living in it or renting it. Forget flipping, those days are over!

 

[therealdubai]

Saeid is totally right, we are having a nightmare with a developer in Humaid City

 

[Saeid]

therealdubai
Where in Humaid City did you buy??
we have bought two flats also and payments are construction based. So since there is no activity what so ever, we have stopped making payments. But I think the whole project might have been canceled.

 

[therealdubai]

Highfield by Rashed, can u help?

 

[Ajmanprop]

Here's my experience in Ajman.

1) Pre-launch prices, heavy advertising about milestone payments by developer etc.
2) Pay a booking deposit - 5% or so. The developer asks for postdated cheques for the remainder.
3) At least two more payments come due, get cashed - so now you are around 15% paid.
4) The developer finally produces the contract - if you are lucky, some of what was advertised is in the contract, in other instances nothing. So, in my case the milestone payment plan, was not in the contract.
5) The developer's attitude at this stage - take it or leave it - no changes in the contract...since you've paid 15% already...
6) You sit and wait, keep paying installments and hope it'll get built. I've now paid 35%....soon will be 40%....and counting. The developer has probably done about 5% work. The only way to stop the post dated cheques is to go to court and file... which costs quite a bit of money.

So goodluck... and hopefully you can use these lessons learnt - regardless of where in Ajman the project is being built. I have put my villa for sale at the pre-launch prices, and haven't sold it yet. FYI - the current asking by developer is 1.4M... in my case seeking 1.02M - my original price from 1 year ago !

Just out of academic interest - I've been searching for a single project - launched end of 2006 or so - that is on track, or where payments have been suspended etc. Nothing so far. Goodluck.

 

[Saeid]

I know Emirates City is still on track. Some of the buildings of course being ahead in build than others.

Here's another little trick we fell for. We signed a contract with the Real Estate Investment Office, owned and run by the Ajman government. In it is said that once the hand over, we can apply for residence visas. we have already had the hand over (Rashidia Towers). I went the other day to ask about applying for the visas. They said very casually, oh, there;s no more visas. JUST LIKE THAT!

THat is why there is no genuine interest from Expats in this country. And the unscrupulous Real Estate Agents are still advertising Flats with Residency visas. Something is very wrong with this picture!

 

[red_sky48]

can any body tell me that development of humaid city started or not.

 

[Saeid]

can any body tell me that development of humaid city started or not.

Humaid City, was there yesterday, Nov-27. NOTHING happening, and I mean NOTHING! I have purchased two flats there myself.

 

[overseasinvestor]

Highfield Commercial Towers Al Humaid City

Hi Guys,

I am just new here. I have also purchased in Highfield Commercial Towers. I am also having lots of troubles contacting AL Rashed. They never answer the phone.

My question is does anyone know if there is any penalty to back of the contract with Al Rashed?. Do you loose all of your money or can you get it back?

Thanks Guys

 

[therealdubai]

If they are not answering and no work started, what does that mean? Anybody knows the address?

 

[overseasinvestor]

AL Humaid City

I was given the following contact details at Al Rashed by ACI:

Name: - Muntaha Al Raesi

Mobile Number: - 056-6062656

Direct Number: - 06-7015555

I have tried to contact here for nearly 1 month (always told she is out of the office)

Also I found the follwoing web site with some pictures that suggests work has started in Al Humaid City. Not sure if this is accurate. Anyway the pictures are located at

cando.ae

 

[red_sky48]

delay in construction or cancellation

till now no contruction started.

 

[Saeid]

till now no contruction started.

Savanna Towers 1 and 2 have already started. But nothing else. Piling work is happening. THere are supposed to be about 85 towers in Humaid city. But only the two i mentioned have started.

 

[THEX19MAN]

Al Owais Heights is located in AL Humaid City, Ajman.

Hi all,

New here to.

I signed up 6 months ago to a apartment in this very block: Al Owais Heights located in AL Humaid City, Ajman.

I have made payments according to the payment play (totalling about 20% of the value). Should I be really worried from what I am reading? It is only a studio so at least I am at the low end of the market but wanted to see if I can find out anymore from you guys?

Any help is very appreciated.

G

 

[Saeid]

THEX19MAN
As I have said before we had purchased two flats(1 BD room) in Humaid city. Due to our financial situation we stopped making payments on them. We lost a total of 120,000 Dhs on both flats. But I feel we'll still come ahead should we decide to purchase again later. The way prices are coming down right now I think we can pick up the same two flats in about a year for so much less that it will make up for our loss.

I would have liked to keep making the payments, but we have lost about 45% of our business, so far. So it wasn't something that we really had a choice over.

If building of your flats haven't started, I would strongly suggest you considering doing the same. There are flats inside Ajman city being sold now for 365 Dhs/ sqf.

I don't see a turn around in the market happening for at least another 2 years. Even if the authorities of the UAE try to restore faith in the market, the investor money has evaporated.