Designed with a focus on families, the villas are set within a gated community and offer uninterrupted sea views. Photo: Al Zorah
Designed with a focus on families, the villas are set within a gated community and offer uninterrupted sea views. Photo: Al Zorah
Designed with a focus on families, the villas are set within a gated community and offer uninterrupted sea views. Photo: Al Zorah
Designed with a focus on families, the villas are set within a gated community and offer uninterrupted sea views. Photo: Al Zorah

Destinations

Ajman's Al Zorah launches collection of luxury beachfront villas

The four-bedroom residences will offer uninterrupted sea views

Selina Denman
Selina Denman

May 24, 2022

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  • Arabic

A collection of 21 luxury villas is set to be developed on Ajman's Al Zorah beachfront.

The project is being undertaken by Al Zorah Development Company, a joint venture between the government of Ajman and Solidere International. Dubbed Exclusive 21 and designed with a focus on families, the villas will be contained within a gated community and offer uninterrupted sea views. Set on 10,000-square-footplots, the four-bedroom villas will offer a built-up area of 5,651 square feet, and are located adjacent to The Oberoi Beach Resort.

“The Exclusive 21 development offers direct access to a private beach and stunning views of the Arabian Gulf, making it an exciting opportunity for those seeking privacy and exclusivity in a natural setting with an urban feel,” says George Saad, chief executive of Al Zorah.

“In addition to quality design and luxurious indoor and outdoor spaces, it invites discerning residents to enjoy all the premium features within the iconic Al Zorah destination, such as The Oberoi Beach Resort, the Al Zorah Golf Club and its 18-hole championship golf course, and Al Zorah Marina 1 and Park.”

Set on 5.4 million square metres of coastal land, Al Zorah is a mixed-use community. Photo: Al Zorah
Set on 5.4 million square metres of coastal land, Al Zorah is a mixed-use community. Photo: Al Zorah

This follows the opening in April of Al Zorah's Zoya Health & Wellbeing Resort, which has been billed as the first of its kind in the region and offers a range of holistic wellness treatments, complemented by a plant-based menu and a selection of leisure activities.

Set on 5.4 million square metres of coastal land interspersed with creeks and mangrove forests, Al Zorah is a mixed-use community centred on healthy living and tourism. Designed to blend elements of nature with world-class urban amenities, the development includes resorts, residences, commercial spaces, and leisure and wellness facilities. A marina offers berthing facilities and rescue services for boats and yachts between 8 and 40 metres in length, and visitors and residents can also make use of the Wake Boarding Park, rent a kayak for a journey through the mangrove forest, or take an abra tour around the creek of Ajman.

The area is home to the Al Zorah natural mangrove reserve, which offers a welcoming environment for local and migratory birds, in addition to plenty of native plant varieties.

How to join and use Abu Dhabi’s public libraries

• There are six libraries in Abu Dhabi emirate run by the Department of Culture and Tourism, including one in Al Ain and Al Dhafra.

• Libraries are free to visit and visitors can consult books, use online resources and study there. Most are open from 8am to 8pm on weekdays, closed on Fridays and have variable hours on Saturdays, except for Qasr Al Watan which is open from 10am to 8pm every day.

• In order to borrow books, visitors must join the service by providing a passport photograph, Emirates ID and a refundable deposit of Dh400. Members can borrow five books for three weeks, all of which are renewable up to two times online.

• If users do not wish to pay the fee, they can still use the library’s electronic resources for free by simply registering on the website. Once registered, a username and password is provided, allowing remote access.

• For more information visit the library network's website.

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Mercer, the investment consulting arm of US services company Marsh & McLennan, expects its wealth division to at least double its assets under management (AUM) in the Middle East as wealth in the region continues to grow despite economic headwinds, a company official said.

Mercer Wealth, which globally has $160 billion in AUM, plans to boost its AUM in the region to $2-$3bn in the next 2-3 years from the present $1bn, said Yasir AbuShaban, a Dubai-based principal with Mercer Wealth.

“Within the next two to three years, we are looking at reaching $2 to $3 billion as a conservative estimate and we do see an opportunity to do so,” said Mr AbuShaban.

Mercer does not directly make investments, but allocates clients’ money they have discretion to, to professional asset managers. They also provide advice to clients.

“We have buying power. We can negotiate on their (client’s) behalf with asset managers to provide them lower fees than they otherwise would have to get on their own,” he added.

Mercer Wealth’s clients include sovereign wealth funds, family offices, and insurance companies among others.

From its office in Dubai, Mercer also looks after Africa, India and Turkey, where they also see opportunity for growth.

Wealth creation in Middle East and Africa (MEA) grew 8.5 per cent to $8.1 trillion last year from $7.5tn in 2015, higher than last year’s global average of 6 per cent and the second-highest growth in a region after Asia-Pacific which grew 9.9 per cent, according to consultancy Boston Consulting Group (BCG). In the region, where wealth grew just 1.9 per cent in 2015 compared with 2014, a pickup in oil prices has helped in wealth generation.

BCG is forecasting MEA wealth will rise to $12tn by 2021, growing at an annual average of 8 per cent.

Drivers of wealth generation in the region will be split evenly between new wealth creation and growth of performance of existing assets, according to BCG.

Another general trend in the region is clients’ looking for a comprehensive approach to investing, according to Mr AbuShaban.

“Institutional investors or some of the families are seeing a slowdown in the available capital they have to invest and in that sense they are looking at optimizing the way they manage their portfolios and making sure they are not investing haphazardly and different parts of their investment are working together,” said Mr AbuShaban.

Some clients also have a higher appetite for risk, given the low interest-rate environment that does not provide enough yield for some institutional investors. These clients are keen to invest in illiquid assets, such as private equity and infrastructure.

“What we have seen is a desire for higher returns in what has been a low-return environment specifically in various fixed income or bonds,” he said.

“In this environment, we have seen a de facto increase in the risk that clients are taking in things like illiquid investments, private equity investments, infrastructure and private debt, those kind of investments were higher illiquidity results in incrementally higher returns.”

The Abu Dhabi Investment Authority, one of the largest sovereign wealth funds, said in its 2016 report that has gradually increased its exposure in direct private equity and private credit transactions, mainly in Asian markets and especially in China and India. The authority’s private equity department focused on structured equities owing to “their defensive characteristics.”

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Updated: June 06, 2023, 10:31 AM
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