Ajman Holding on Wednesday announced that it had signed an agreement with China State Construction Engineering Corporation (CSCEC) Middle East to develop and construct Mirkaaz, a new shopping destination in Ajman.
The $136 million (AED 500 million) project is expected to attract over 10 million visitors in the first year.
Funtastic Engineering Consultancy (FEC) will be responsible for the construction management of the project, according to a company statement.
The construction of Mirkaaz is planned to start in January 2018 and be completed in the fourth quarter of 2019, Ajman revealed.
“Mirkaaz is in line with the ambitious Ajman 2021 initiative, which will set unprecedented standards for Ajman’s economy,” Yahya Al Jasmi, Ajman Holding’s managing director, commented.