Sharjah-based Omran Properties has announced three new projects to be developed in the emirate worth DH2.47 billion ($672.4 million).
Developed through a strategic partnership with Sharjah Investment and Development Authority (Shurooq), the projects will be officially launched later this year.
They will include Maryam Island, a mixed-use development set between Al Khan Lagoon and Al Mamzar peninsula. Al Maryam Island is valued at DH2.6 billion. They will also include the DH120.6m Al Khan Village Resort hospitality project as well as the DH106m Kalba Waterfront Mall.
Sheikha Bodour bint Sultan Al Qasimi, Chairperson of Shurooq and Chairperson of the Board of Directors at Omran Properties, said: “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.”
“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 added.
“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.