Amber Islands Development


CWC Gulf is raising investment ...

CWC Gulf are working with the developers of the huge Amber Islands construction project in Ajman UAE, in order to raise new investment. A short distance from Dubai International airport, the tiny emirate of Ajman is geared for one of the most ambitous construction projects yet in the United Arab Emirates.

Comparable to Dubai's Royal Palm development but arguably much more comprehensive, Amber Islands will be constructed offshore and will provide thousands of new beach apartments and luxury villas for both sale and lease. It will also incorporate a hostpital, marinas, shopping malls, hotels and a golf resort. Amber Islands will also benefit from the experience gained during the construction of Dubai's Royal Palm, and will take into account slowly rising sea levels. Indeed everything has been thought of.

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A US$ 5 billion development project ...

Plans have been drawn up for the construction of a major real estate project to be built off the coast of the emirate of Ajman and to be called Amber Islands.

The scheme will cover the construction of four new man made islands to be connected by an isthmus. The facilities to be built on the islands include 1234 suites, 5312 villas and townhouses, a golf resort, two marinas, hotels, a hostpital, shopping malls and also a complete marine theme park. The project is estimated to cost US$5 billion and will be developed in phases. A new highway from Dubai International airport direct to Amber Islands is also planned.

The Amber Islands Development Fund development fund has already been established and is registered with the Cayman Monetary Authority which is the largest registrar of offshore funds in the World .

Investment considerations are:-

Administration and Custody provided by Bank of Bermuda owned by HSBC
The prime broker is Deutsche Bank
All Fund documentation has been created or reviewed by Walkers Cayman, legal council Bank of Bermuda and legal council of Deutsche Bank
The guarantee documents, mortgages, agreements have been created or reviewed by Ritter Attorneys at law, Zurich and International Legal Consultants in Dubai
The concession agreement has been reviewed by the legal council of Ajman and has been signed by H.H. Sheikh Humaid bin Rashid Al Nuaimi, The Ruler of Ajman
Preferred payment certificates are issued by the developer to have the required return
The preferred payment certificates (PPCs) are backed by land provided by the Ruler and the whole development via a mortgage

The mortgage will be enforced through the concession agreement from the Ruler
Investors have the right of conversion into property at any time
The conversion rights are enshrined in the prospectus
Investors can choose which properties
The conversion is at 111% of value of holdings in the fund or the guaranteed return and whichever is higher
Buyers will have freeholds
Property cannot be confiscated or nationalised by Ajman or by the Ruler
The Ruler has waived sovereign immunity

About Ajman ..

The Emirate of Ajman is situated on the coast of the Arabian Gulf, extending over a distance of 16 km, between the emirates of Umm Al-Quwain and Sharjah. The area of the emirate is 259 square kilometers, equivalent to 0.3% of the country's total area, excluding the islands. The population was estimated to be 80,000 in 1992.

The town of Ajman, the capital of the emirate, lies on the coast of the Arabian Gulf. lt comprises the Ruler's office, companies, banks and commercial markets. The port of Ajman is located along a natural creek (Khor) which penetrates the town.

The two major regions in the emirate are Masfout, an agricultural area, lying at a distance of 110 km long at the South east, and Manama located 60 to the east.

Amber Islands currently represents one of the greatest and most secure investment opportunities in the UAE. If you are interested to invest in this development then we invite you to contact us.