SHARJAH: Omran Properties, the Sharjah-based real estate developer backed by Dubai’s Emaar Properties and Abu Dhabi-based developer Eagle Hills, has announced three new projects in the emirate worth a total of Dh2.47 billion ($672.4 million).
The development will be launched officially later this year.
The company was established in 2016 through a strategic partnership with Sharjah Investment and Development Authority (Shurooq).
The projects include the Dh2.26bn Maryam Island, a mixed-use development located between Al Khan Lagoon and Al Mamzar peninsula, the Dh120.6m Al Khan Village Resort hospitality project and the Dh106m Kalba Waterfront Mall in the emirate’s eastern region.
“These developments are a perfect reflection of Shurooq’s 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 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 Sharjah’s 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.
– By Sheena Amos