Three ground-breaking real estate projects have been unveiled in Sharjah, worth a total of AED 2.7 billion (US$ 734m). The trio of projects is the result of a joint project between Sharjah Investment and Development Authority (Shurooq) and Eagle Hills, an Abu Dhabi-based private real estate investment and development company.

At a glance:

• Shurooq and Eagle Hills partner to establish ‘Eagle Hills Sharjah Development’
• Maryam Island, Kalba Waterfront and Palace Al Khan represent unique additions to Sharjah’s flourishing property sector
• Palace Al Khan is the first luxury waterfront resort in Sharjah
• Trio of projects designed to strengthen housing, hospitality and retail offerings and enhance community lifestyle in Sharjah

Shurooq and Eagle Hills will work together in a strategic partnership represented by ‘Eagle Hills Sharjah Development’, a dedicated real estate company to develop the three projects; Maryam Island, Kalba Waterfront and Palace Al Khan. The large-scale projects including high-end hospitality facilities in Sharjah will boost the Emirate’s already thriving property sector, setting new standards for housing, hospitality, retail, and lifestyle options in the Emirate.

The announcement was made during a ceremony held at Expo Centre Sharjah in the presence of Sheikha Bodour bint Sultan Al Qasimi, Chairperson of Shurooq, and Mohamed Alabbar, Chairman of Eagle Hills, as well as a number of CEOs, directors of government and private corporations, in addition to local and international investors.

Commenting on the launch, Sheikha Bodour bint Sultan Al Qasimi, Chairperson of the Shurooq and Eagle Hills Sharjah Development, said: “Sharjah is witnessing a distinctive boom in its diversified economy which has been attracting various investments from business leaders around the world, making the Emirate a premium investment destination for tourism and trade, thanks to the leadership of His Highness Sheikh Dr Sultan bin Muhammad Al Qasimi, Member of the Supreme Council Ruler of Sharjah.”

Mohamed Alabbar, Chairman of Eagle Hills and Vice Chairman of Eagle Hills Sharjah Development, said: “To us, Sharjah is a symbol of traditional and national values, representing our roots and Arabic culture. It is a place of tolerance and welcoming hospitality that brings warmth to all its citizens and visitors in alignment with the wise vision of His Highness Sheikh Dr Sultan bin Muhammad Al Qasimi.”

Alabbar continued: “Unveiling such prestigious projects in Sharjah with our partner Shurooq demonstrates our commitment to the sustained development of the Northern Emirates. These three developments will offer the local community a whole new level of living and lifestyle experiences that will in turn attract a larger footfall to Sharjah, boost the economy and increase investments in the Emirate. We look forward to a longstanding partnership as we focus on developing these projects to the highest standards of design excellence and build quality.”

Maryam Island, the largest development of the three projects in terms of both value and area, will be a mixed-use development worth AED 2.4 billion (US$ 658m). It will be located between Al Khan Lagoon and Al Mamzar in Downtown Sharjah, where it will be centrally situated within the city’s commercial and residential precincts. The waterside development will comprise low-rise buildings of a maximum of eight floors, featuring luxury apartments and villas, five- and four-star hotels, and a series of 100 restaurants, cafes and retail outlets spread along the waterfront. 

The AED 160 million (US$ 43.8m) Kalba Waterfront is a planned retail development that is set to become one of the most prominent retail projects in the Eastern Region. The mall will be constructed within the Kalba Eco-Tourism Project, adjacent to Kalba’s lagoon and mangrove area, offering a unique experience in one of the most beautiful areas in the country.

Palace Al Khan, the third project to be developed by Eagle Hills Sharjah Development, is the first luxury waterfront resort in the heart of Sharjah city. Overlooking the Arabian Sea, the AED 120 million (US$ 34m) five-star seaside hotel will offer 87 hotel keys. “Managing Palace Al Khan reflects the expansion of our brand Address Hotels + Resorts to Sharjah, the cultural capital of the UAE and one of the most prominent tourist, leisure and family destinations in the region. We will continue to embrace our philosophy ‘Where Life Happens’ in managing Palace Al Khan, which is the same philosophy that led us to founding Address Hotels + Resorts to provide the very best service for our guests,” said Olivier Harnisch, CEO of Emaar Hospitality Group.

For more information on the three projects, visit the Eagle Hills website.

See also:

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