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The many water activities are a major attraction for tourists to Umm al-Quwain. The city is built around a creek, which is used for all forms of water sport. Umm al-Quwain also boasts Dreamland the world's largest Aqua Park. Umm al-Quwain law number three for 2006 states that non-UAE or GCC (Gulf Cooperation Council) nationals cannot own land but can own property in designated investment areas. It goes on to say that expats are able to benefit from the ownership of surface property under 99-year lease contracts. One current development that allows foreigners to invest by way of purchasing 99-year leasehold of the properties is Al Salam City. The development is being built over fifteen years in three phases; it is expected to be fully completed by 2020. Al Salam City is being built in Um al-Quwain city as a combined residential and commercial project. Phase one of the project will include the construction of the infrastructure for the entire project as well as 1,000 residential villas in the first residential area and the construction of 200 buildings of 5 to 10 floors in the second residential area. This first phase is expected to be completed by 2009 and will include some 15,000 residential units. The entire project when fully completed will house some five hundred thousand residents and is designed to be family friendly, with every apartment and villa cluster having their own access to a private park, nurseries, children's play areas and swimming pools. The Al Salam City development will also contain a 50-storey hotel and a huge shopping mall. The White Bay development has recently begun construction; this development is a resort style residential community being constructed both on the existing natural shoreline and on 2 manmade islands. The development will consist of 8000 residential units made up of a combination of waterfront and park view villas, terraced condominiums, town houses and mid-rise apartments with no building exceeding 15 stories. The development will feature hotels and a shopping strip along with a harbour and marina. The project will be constructed in ten phases with a final completion date of 2011. The property will available under 99-year leasehold. Umm al-Quwain Marina is a development project being constructed in the emirate of Umm al-Quwain. This construction will be another property development that will consist of both the use of the natural shoreline and the construction of manmade islands. It will house some 8000 residential units of various types as well as 1200 hotel and resort rooms.
Article Source: http://www.BharatBhasha.com Article Url: http://www.bharatbhasha.com/real-estate.php/70854 Article Added on Monday, February 18, 2008
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