Kuwait Real Estate Company (AQARAT) has awarded an infrastructure development contract for its Al Tay Hills residential project in Sharjah.

The 198 million UAE dirhams ($53.91 million) contract was awarded to an unnamed UAE contractor, the company said in a statement published on Boursa Kuwait on Tuesday.

In January 2024, AQARAT and IFA Hotels and Resorts launched the AED 3.5 billion Al Tay Hills project.

Covering an area of six million square feet, the project includes 1,100 villas and townhouses, with the first phase of the project scheduled for delivery in the first quarter of 2028.

(Writing by P Deol; Editing by Anoop Menon)

(anoop.menon@lseg.com) 

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