Omran Properties announces three projects in Sharjah

March 21, 2017 | By RetailME Bureau

Sharjah-based Omran Properties will launch three real estate projects – including mixed-use, hotel and retail – in the emirate worth AED2.47 billion, in total, as part of a massive investment drive.

The company – established in 2016 through a strategic partnership between the Sharjah Investment and Development Authority (Shurooq), Dubai’s Emaar Properties and Abu Dhabi-based developer Eagle Hills – is slated to launch the projects later this year.

The largest of the developments is ‘Maryam Island’, a unique AED2.26 billion mixed-use development located between Al Khan Lagoon and Al Mamzar peninsula. The five-star hotel ‘Al Khan Village Resort’, is worth AED120.6 million and the ‘Kalba Waterfront Mall’ in the eastern region of the emirate has a development cost valued at AED106 million.

Spanning 3.9 million sqft – situated between Al Khan Lagoon and Al Mamzar peninsula – Maryam Island will offer a leasable retail area of 200,004 sqft. The development will include residential housing, apartments, offices, hotels, a cinema and entertainment areas.

The Al Khan Village Resort is part of the re-construction of the traditional Al Khan fishing village. It will house a range of F&B options and a spa. Spread across 713,668 sqft, it is expected to open by the third quarter of 2019.

Kalba Waterfront Mall will be located at the centre of the development area in the Kalba Eco-tourism Project, overlooking a lagoon lined by mangroves. The mall, also due to open in the third quarter of 2019, will offer a leasable retail area of 120,600 sqft.

Sheikha Bodour bint Sultan Al Qasimi, chairperson of Shurooq and chairperson of the board of directors at Omran Properties, said the projects align with Shurooq’s vision of expanding investments in Sharjah, diversifying its world-class portfolio, while promoting Sharjah as a premier investment attraction.

“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. 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. These projects are a barometer of the confidence in Sharjah and an indication of its long-term success,” she says.

“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 sector in Sharjah,” she continues.

“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,” observes Mohamed Alabbar, chairman of Emaar Properties and Eagle Hills. “Led by Sharjah government’s tremendous support of these developments and its overarching strategy of economic diversification, the emirate today welcomes a growing number of regional and international investors.

“As a development manager for the projects, Emaar is committed to delivering the highest standards of residential, lifestyle, leisure and tourism experiences, and we will bring these same values to Sharjah through our strategic partnership with Shurooq and Eagles Hills for Omran Properties,” Alabbar asserts.

“Sharjah is full of unique opportunities and real estate has proven to be one of the biggest and most promising sectors in Sharjah’s economic growth. The unique projects announced by Omran Properties signify the emirate’s desire to commission premium projects, something that Shurooq has continuously promoted to local and international investors,” adds Marwan bin Jassim Al Sarkal, CEO of Shurooq.

“These projects also show the continuous demand by residents and investors, who recognise the emirate as a high quality diversified economy, with a variety of opportunities across multiple sectors. Sharjah is experiencing new demands for services and lifestyles as it evolves even further into a family-friendly and business-friendly destination. It is truly becoming a world-class community of integrated residents and inspirational businesses,” he concludes.



Previous Article Next Article



Lulu Group partners with Amazon expanding grocery offerings to online customers in the UAE

Abu Dhabi based grocery retail chain Lulu Group has partnered with Amazon 

Continue Reading

November 24, 2022 | By RetailME Bureau
Food Tech Valley partners with Tradeling to boost UAE’s food ecosystem

UAE-government-led initiative Food Tech Valley – announced in 2021 by His Highness 

Continue Reading

November 17, 2022 | By RetailME Bureau
Lulu Hypermarket to open in The Dubai Mall in 2023

Abu Dhabi-based supermarket chain Lulu Hypermarket is all set to open in 

Continue Reading

November 10, 2022 | By Rupkatha B
Beyond Meat’s Q3 2022 results “disappointing”

Plant-based meat brand Beyond Meat’s financial results for the third quarter of 

Continue Reading

November 10, 2022 | By RetailME Bureau
Barakat unveils new biodegradable packaging

UAE’s fresh produce brand Barakat has launched bio-degradable packaging across its entire 

Continue Reading

October 27, 2022 | By RetailME Bureau
Pure Harvest CEO Sky Kurtz

UAE-based agritech start-up Pure Harvest Smart Farms has signed a Memorandum of 

Continue Reading

October 27, 2022 | By RetailME Bureau
Carrefour signed up as anchor tenant for Midtown Project

Carrefour, owned and operated by Majid Al Futtaim – Retail in the 

Continue Reading

October 27, 2022 | By RetailME Bureau
Grandiose Supermarket announces country-wide expansion plans

Grandiose Supermarket, part of Ghassan Aboud Group, has announced expansion plan in 

Continue Reading

October 26, 2022 | By Rupkatha B
100 years of Valrhona

The Valrhona journey began 100 years ago with a cocoa bean. Since 

Continue Reading

October 24, 2022 | By Justina Eitzinger
On-demand grocery delivery in 15 mins

Deliveroo UAE has announced the expansion of its rapid grocery delivery service 

Continue Reading

October 24, 2022 | By RetailME Bureau
Mariam bint Mohammed Almheiri, Minister of Climate Change and Environment

The Ministry of Climate Change and Environment (MOCCAE) revealed that the UAE 

Continue Reading

October 17, 2022 | By RetailME Bureau

Abu Dhabi-based leading supermarket chain Lulu Group has appointed investment bankers Moelis 

Continue Reading

October 13, 2022 | By RetailME Bureau

Download Images RetailME Magazine