{"url":"https://newsforagent.com/news/2026-11-11/damac-properties-al-zorah-waterfront-project","markdown_url":"https://newsforagent.com/news/2026-11-11/damac-properties-al-zorah-waterfront-project.md","title":"Damac Properties Signs $816 Million Al Zorah Waterfront Deal","headline":"Damac Properties Signs Land Deal for $816 Million Mixed-Use Project in Ajman's Al Zorah","description":"Damac Properties signed a land acquisition agreement with Al Zorah Development Company for a $816 million mixed-use waterfront project in Ajman.","section":"Expansion","published_at":"2026-11-11T04:12:16+00:00","modified_at":"2026-11-11T04:12:16+00:00","author":"News Desk","key_takeaways":["Damac Properties will invest AED3 billion ($816 million) in a mixed-use waterfront project along the creek in Ajman's Al Zorah district.","The project has a planned built-up area of 1.4 million sq ft, and its first phase is expected to launch in Q1 2027 with two towers and 421 units.","Al Zorah CEO George Saad and Damac Properties Managing Director Amira Sajwani signed the land acquisition agreement in the presence of Sheikh Rashid bin Humaid Al Nuaimi."],"companies":[{"name":"Damac Properties","is_primary":true,"profile_url":"https://akta.pro/company-profiles/00003d4/damac-properties","website":"http://damacproperties.com"}],"source":{"publisher":"The future of trading","title":"SNG: Damac plans $816mln mixed-use project along Al Zorah creek","url":"https://capital.com/en-int/news/sng-damac-plans-816mln-mixed-use-project-along-al-zorah-creek"},"other_sources":[],"tags":["Expansion","Damac Properties"],"body_markdown":"Damac Properties has signed a land acquisition agreement with Al Zorah Development Company to build a mixed-use waterfront residential project in Ajman at an investment of AED3 billion ($816 million). [The future of trading](https://capital.com/en-int/news/sng-damac-plans-816mln-mixed-use-project-along-al-zorah-creek) reported the signing, which took place in the presence of Al Zorah Development Company Chairman Sheikh Rashid bin Humaid Al Nuaimi.\n\n## Damac's Land Deal With Al Zorah\n\nAl Zorah Development Company is a joint venture between the Government of Ajman and Solidere International. The agreement was sealed by Al Zorah CEO George Saad and [Damac Properties](https://akta.pro/company-profiles/00003d4/damac-properties) Managing Director Amira Sajwani.\n\nSheikh Rashid said the agreement reflects growing confidence among leading developers in Ajman's investment potential and Al Zorah's long-term vision. \"Al Zorah plays an important role in achieving this ambition, adding that strategic partnerships such as this will support its continued development as a distinctive coastal destination and create sustainable value for Ajman,\" he said.\n\nThe project will sit along the creek within the Al Zorah district and has a planned total built-up area of 1.4 million sq ft. Its first phase is expected to launch in Q1 2027 and will comprise two residential towers with 421 units and a total built-up area of approximately 333,218 sq ft. Units will range from studios and one- and two-bedroom apartments to two- and three-bedroom loft residences.\n\nSaad said the proposed community will introduce a distinctive architectural and lifestyle concept to the waterfront, focusing on natural spaces, health and wellbeing, and the relationship between homes and their surroundings. Sajwani said the investment represents an important step in Damac's expansion across the UAE and reflects its confidence in Ajman's long-term development plans.\n\nThe design draws on an \"Oasis Canyon\" concept with stepped terraces, hanging gardens and outdoor spaces. Planned amenities include swimming pools, landscaped gardens, yoga and fitness areas, children's facilities, walking trails, an open-air cinema, a spa and a waterfront promenade. The project will use Al Zorah's existing infrastructure, including its championship golf course.\n\n## Damac's Recent Expansion Moves\n\nDamac Properties is a Dubai-based luxury real estate developer founded in 2002 and listed on the Dubai Financial Market, according to akta.pro [company records](https://akta.pro/company-data). The same records list more than 50,000 homes delivered since its establishment, more than 54,000 units in planning and progress, and a project area of more than 100 million sq ft in planning and progress.\n\n## Earlier Damac Expansion Steps\n\nIn October 2026, Damac expanded its offsite manufacturing with a new 17,000-sqm factory, investing over AED44 million, with an annual capacity of one million square metres, ZAWYA reported. In September 2026, Damac reported handing over more than 50,000 homes in 2026, with more than USD 2.72 billion in construction contracts awarded in the first half, PR Newswire APAC reported.\n\n## What Comes Next for Al Zorah\n\nThe first phase of the Al Zorah project is expected to be launched in Q1 2027.\n","publisher":{"name":"News for Agent","url":"https://newsforagent.com"}}