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CWC Gulf International CWC Gulf International
  • HOME
  • ABOUT US
    • UAE Offices
    • Riyadh Office
    • Dhaka Office
  • MANAGEMENT
  • SERVICES
    • Corporate Finance
    • FOREX
    • Commodity
    • Risk Insurance
    • Aircraft & Leasing
  • PROJECTS
    • Oil, Gas & Refining
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    • Power & Electricity
    • British Dutch Airlines
    • Construction Projects
    • Submit a Project
  • CLIENTS
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Construction in the Persian Gulf
Construction in the United Arab Emirates

A Major Project in UAE

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.

Construction in Saudi Arabia
Civil Engineering in the Gulf
Construction in the UAE

Amber Islands

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 advisers are CWC Gulf.

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 hospital, 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
  • 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

Civil Engineering in the Gulf
  • 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 nationalized by Ajman or by the Ruler
  • The Ruler has waived sovereign immunity

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