SHARJAH, 21st March, 2017 (WAM) -- Omran Properties, the Sharjah-based real estate developer backed by Dubais Emaar Properties and Abu Dhabi-based developer Eagle Hills, has announced three new projects in the emirate worth a total of AED2.47 billion ($672.4 million).
The development will be launched officially later this year, the company, which was established in 2016 through a strategic partnership with Sharjah Investment and Development Authority (Shurooq), said in an emailed press release. The projects include the AED2.26bn Maryam Island, a mixed-use development located between Al Khan Lagoon and Al Mamzar peninsula, the AED120.6m Al Khan Village Resort hospitality project and the AED106m Kalba Waterfront Mall in the emirates eastern region. "These developments are a perfect reflection of Shurooqs ambitions to position Sharjah as a premium lifestyle destination and a lucrative and intelligent commercial opportunity," said Sheikha Bodour bint Sultan Al Qasimi, chairperson of Shurooq and Chairperson of the Board of Directors at Omran Properties. "The huge projects unveiled by Omran Properties are the first in a series of developments in different sectors that will play a crucial role in changing the investment and real estate sphere in Sharjah. Sharjah is increasingly becoming an international focal point for business, hospitality, tourism and trade, and with the vital collaboration between government and the private sector, the emirate becomes an even more attractive proposition for domestic and foreign investors," she said. Maryam Island will stretch across 364,000 square metres with residential housing, apartments, offices, hotels, a cinema and entertainment areas. "As Sharjahs property sector grows, we see a progressive trend towards mid- and high-end real estate, creating a more niche market that meets the requirements of discerning investors," said Mohamed Alabbar, Chairman of Eagle Hills and Chairman of Emaar Properties.Copyright Emirates News Agency (WAM) 2017.
