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• Freehold and 100-year leasehold offering continue to drive sales for the first-of-its-kind project
• Unique investment opportunities to be showcased at Cityscape Abu Dhabi 2015
Sharjah - Tilal Properties today announced its flagship development, Tilal City - the first-of-its-kind mixed use community in Sharjah - has registered sales of 70 per cent of land plots within two of its key zones.
Tilal Properties, a joint venture between Sharjah Asset Management and Eskan Real Estate Development LLC, seeks to lead the evolution of Sharjah's real estate sector.
Launched in November 2014, Tilal City comprises 1855 land plots, offering the opportunity to UAE residents to buy or lease land and develop properties in Sharjah for the first time ever. The development allows investors to build for sale, leasing and personal use. Non-Arab expats can purchase land plots on a 100-year leasehold basis within the scheme, with freehold land plots available for GCC nationals and UAE's Arab residents.
Split into five zones (A-E), the masterplanned community will occupy an area of 25 million square feet and provide high-quality, affordable housing for 55,000 - 65,000 residents in apartments, villas and townhouses.
To date, 70 per cent of all available plots in zones A and C - which are the first two zones to be handed over in end-2016 - have been sold. The new flexibility in owning land has been a key driver behind investors' interest.
"Tilal City is the first development of its kind in Sharjah to present such a broad range of investmentopportunities,"said Khalifa Al Shaibani, Director General of Tilal Properties. "Buyers can choose to build their own home, build to rent, or invest in a commercial or retail property. The high sales volumes we have seen in zones A and C confirms the importance of opening up the project's investment opportunities to UAE residents and the position of Sharjah as an attractive real estate investment area."
An exclusive shopping mall will take shape as the development's anchor facility along with a central park. Adjacent to the mall and the central park area, zone A is connected to the rest of the development through vibrant public gardens lined with shops, restaurants and cafes. Comprising 296 apartment buildings, the land within zone A has also been earmarked for the development of three schools, two community centres and a mosque among other community infrastructure.
Zone C - the largest of the five areas - comprises 673 residential villas with the option to build townhouses, semi-detached or detached villas. Alongside the residential accommodation, zone C features parks and a mosque, in addition to educational and community facilities.
Strategically located on Emirates Road, Tilal City is close to the Al Dhaid interchange, just 10 kilometres from Sharjah's International Airport and within convenient commuting distance to nearby Emirates, with Dubai only 2km away.
Tilal Properties willshowcaseTilal City at Cityscape Abu Dhabi 2015, from 21 - 23 April at the Abu Dhabi National Exhibition Centre.
The event will be attended by Tilal Properties' senior executives, as the company looks to promote the City's unique investment opportunities to regional developers, investors, as well as infrastructure and utilities providers.
"Cityscape Abu Dhabi provides us with a valuable platform to highlight the revolutionary impact that Tilal City is having on Sharjah's property market," added Khalifa Al Shaibani. "We are proud to be the game-changer in the regional real estate industry, and are committed to supporting our buyers and investors throughout the project's entirety."
Cityscape Abu Dhabi is recognised as the leading real estate conference in the region, presenting developers from Abu Dhabi and globe with a platform to showcase leading projects and developments. Tilal Properties will exhibit at stand number Hall 6, stand 6D22.
Cluttons, the global real estate agent, is the exclusive marketing and sales partner of Tilal City. For further information, prospective buyers can visit www.tilaluae.com, or can call 800-TILAL. A dedicated sales office is open in Robot Park Tower, Sharjah. Prospective investors may also visit the sales office onsite.
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About TILAL Properties
Tilal Properties is a joint venture between Sharjah Asset Management and Eskan Real Estate Development LLC, to focus on the establishment, development and management of real estate projects in Sharjah. The vision of Tilal Properties is founded in the developmental boom achieved by Sharjah under the directives of His Highness Shaikh Dr Sultan Bin Muhammad Al Qasimi, UAE Supreme Council Member and Ruler of Sharjah. Tilal Properties plans to develop a series of high quality real estate projects in Sharjah.
Contact:
Baiba Upmale
Four Communications
baiba.upmale@fourcommunications.com
0555 688 761
© Press Release 2015
