Great Properties, a UAE-based real estate agency, has announced that its share of 'Al Helio Downtown' development in Ajman has been sold out only two months after it was launched.

The real estate sales and marketing agency was given exclusive rights to sell the Al Helio Downtown plots, making it the second project that Great has promoted and sold on behalf of Al Rashed Real Estate.

“Savvy investors have realised that Ajman is the next great investment opportunity in the UAE,” said Mohammed Mirza, sales director for Great Properties.

Mirza cited the attractive terms of sale offered by Great Properties and the unparalleled value for money of investing in Ajman as the primary reasons the properties were snapped up so quickly.

Great Properties offered 32 commercial and residential plots in the development with a 10 per cent down payment and a special interest-free introductory offer.

The plots could be purchased for as little as Dh85 ($23) per square foot – compared with Dh350 per square foot in comparable developments in Dubai – and investors were given contractual rights to resell the property once the buyers made their down payment.

“I chose to invest in Ajman because of the phenomenal expansion the emirate is witnessing coupled with the attractive payment terms offered by Great,” said Majid Al Malakouti, general manager, Haafez Properties.

“With the new international airport currently being developed as well as the new residential and commercial developments, Ajman is quickly becoming a key investment hub in the region,” he added.

Al Helio Downtown is a mixed-use, self-contained community covering 115 acres. It sits just five minutes away from Ajman Downtown development, which will reconfigure the emirate’s main business and residential districts. Sharjah’s international airport lies seven minutes away, and Dubai’s is 20 minutes away.

The development will include a school, a nursery, gardens, lakes, health care facilities, a mosque and a shopping district.

To date there are six major investment projects in Ajman worth 40.8 billion – of which Great is managing over Dh2 billion – making them one of the leading real estate agencies in the booming market.-TradeArabia News Service