Sharjah eyes major transformation with big projects

Sharjah eyes major transformation with big projects
Artist's rendition of The Sharjah Waterfront City project.

Sharjah - The announcements came during the Cityscape Global 2015 exhibition, being held at the Dubai World Trade Centre from September 8-10, 2015.

By Staff Reporter

Published: Thu 10 Sep 2015, 4:49 PM

Last updated: Thu 10 Sep 2015, 7:00 PM

Sharjah offers the most attractive investment environment in the region for local and international investors, especially in the fast growing property market, said Shaikh Sultan bin Ahmed al Qasimi, Chairman, Tilal Properties.
This came during his visit to the Cityscape Global 2015 exhibition, being held at the Dubai World Trade Centre from September 8-10, 2015.  
Shaikh Sultan bin Ahmed al Qasimi was received by Mr Khalifa Al Shaibani, Director General of Tilal Properties, Shaikh Abdullah Shkara, Chairman of Al Hanoo Real Estate Co., Mr Hayssam El Masri, President of Sharjah Oasis Real Estate, which has been awarded the contract of building Dh 20 billion Sharjah Waterfront City, and other senior officials and senior management of various Sharjah companies participating in the international property exhibition being held in Dubai.  
Speaking on the occasion, Shaikh Sultan bin Ahmed al Qasimi emphasised that with the launch of big-ticket projects such as the Tilal City, Sharjah Waterfront City and others, Sharjah is set to undergo dramatic transformation, opening up limitless opportunities for investors and businesses, besides addressing the huge demand for both upscale and affordable housing in the emirate.  
He drew attention to the rich diversity of Sharjah's real estate projects that are in harmony with the leadership's vision of sustainable development and growth. New development projects will further enhance Sharjah's position as an attractive tourism and investment destination besides strengthening its economy, he added.    
Tilal Properties are showcasing their flagship AED 2.4 billion Tilal City development project at Cityscape Global 2015. The first-of-its-kind Tilal City mixed-use development project includes 1,855 land plots, offering the GCC nationals and UAE residents for the first time an opportunity to buy or lease land and develop properties in Sharjah.  

The Sharjah Waterfront City, spread across 36 km of coastline with a total area of 60 million sq. ft. and 10 islands is a fully self-reliant, advanced residential, commercial, and tourism development project in the region. The Sharjah Waterfront City will also include two 5-star hotels - Shaza of Kempinsky and the Dusit.   
The chairman said that the Tilal City project is one of the most exciting developments coming up in Sharjah and the UAE. Considering Sharjah has always been a popular choice of residence for families in the UAE and for people from across the GCC region in view of its celebration of family values, tradition and culture, he said, the flagship project by Tilal Properties is truly special, keeping with the highest international standards in terms of modern amenities, convenience and aesthetics.  
Khalifa Al Shaibani said that Tilal City is the largest development project Tilal Properties has undertaken in the region. With the initial roadworks now completed at the Tilal City, the first plots are on track to be handed over to owners next year as scheduled. The idea is to create high quality and sustainable neighbourhoods in Sharjah offering a better quality of life to residents and visitors, he added.  
On this occasion, Shaikh Sultan was briefed about the Sharjah Waterfront City project, which was formally launched at Cityscape Global on Wednesday, by Shaikh Abdullah Shkara and Mr Hayssam El Masri and the various stages of development underway.  
Shkara said: "We have invested a lot in this project based on the fact that Sharjah is a very attractive investment and touristic destination, and of course based on the success we have achieved in this emirate throughout the many years of our presence here."  
Masri said that in line with the emirate's plan to attract 10 million visitors by 2021, the Sharjah Waterfront City will help fuel the demand for residential and commercial units as well as hotels.
On this occasion, Shaikh Sultan also visited the stands of Al Rayyan International Real Estate and Al Thuriah developers. He was briefed by the management of these companies about the progress made on their projects. 
While Al Rayyan, the Dh 700-million first mixed-use premium real estate project in Al Nahda district of Sharjah, is 70 per cent complete, covering 2.7 million sq ft, offering a total of 504 units, work is proceeding apace on the Sahara 4 and Sahara 5 residential towers by Al Thuriah.
The apartments in Sahara Towers are available for freehold to GCC nationals and Arabs with a UAE resident visa.  
Sharjah has been witnessing huge growth in demand for real estate due to budgetary increase and upgrading of its transportation infrastructure, according to a report by real estate consultancy Cluttons.
The situation in the region has also caused an influx of people to the emirate thanks to its affordable real estate, security and Arab-Islamic heritage.

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