SHARJAH, 22nd March, 2023 (WAM) — Sheikha Bodour bint Sultan Al Qasimi, Chairperson of the Sharjah Investment and Development Authority (Shurooq), presided over 2023’s first board meeting of Eagle Hills Sharjah Development, a joint venture between Shurooq and Abu Dhabi-based real estate developer, Eagle Hills.
Held at the Sharjah Research Technology and Innovation Park (SRTIP), the meeting was attended by top officials from both sides, including Mohamed Al Abbar, Chairman of Eagle Hills; Ahmed Obaid Al Qaseer, CEO of (Shurooq), and Rauf Mohamed, group CFO of Eagle Hills, who assessed the key outcomes of their strategic partnership thus far and set the roadmap for 2023 and beyond.
The two leading local developers have put the UAE on the global map with world-class, sustainable and futuristic projects such as Maryam Island and the Kalba Waterfront, which redefine the global outlook towards urbanisation and renewal. During discussions, which focused on the timeline of projects underway, their progress, achievements, and volume of sales, among other vital aspects, Sheikha Bodour lauded the immense fiscal and social value created by the joint venture since 2018 for Sharjah and the region.
The Shurooq Chairperson also backed the strategic decisions taken at the board meeting to set the roadmap for 2023 and beyond, underscoring that the plans demonstrate the commitment of both Shurooq and Eagle Hills to continue propelling the sustained development of Sharjah and the eastern region.
Eagle Hills Sharjah Development, a dedicated real estate company established by the JV, has been generating high investor demand as the two parties continue to realise their shared vision of boosting Sharjah’s burgeoning tourism sector by developing high-value large scale residential, retail and leisure developments in the heart of the city and across the emirate’s naturally diverse regions.
Through the initiation of two marquee projects, Kalba Waterfront and Maryam Island, that have furthered the vision of H.H. Dr. Sheikh Sultan bin Muhammad Al Qasimi, Supreme Council Member and Ruler of Sharjah, to boost the emirate’s economic diversification plans, the joint venture has facilitated the more significant footfalls to Sharjah, boosted the local economy and increased the UAE’s investment and employment opportunities.
Project update: Maryam Island
Located in downtown Sharjah overlooking the Arabian Sea, Maryam Island development is on track to become one of Sharjah’s largest mixed-use real estate projects, comprising different residences.
Nestled in the centre of Sharjah, Maryam Island project accommodates an array of luxury residential apartments, waterfront food and beverage outlets, cafés, and leisure facilities such as a fitness club, swimming pool, community centre, a marina, and green spaces.
With Phase II underway for delivery this year, Phase I of the project is handed over and includes 688 residential units, a swimming pool, children’s play zone and kids, beach access, and F&B units.
Project update: Kalba Waterfront
A tourist attraction of global standards, the newly opened Kalba Waterfront development is the largest retail and first inclusive waterfront destination in Kalba with integrated services.
The project features 80 units, a variety of indoor and outdoor dining outlets, an expansive promenade that lines the lagoon, and a play area. Kalba Waterfront has introduced new family-friendly concepts in the malls and leisure sector, providing distinctive new touristic experiences, particularly those inspired by nature and adventure. In addition, the destination offers a significant push to locally-based entrepreneurs as well as investors, and presents new employment opportunities not only to Kalba but the wider Eastern region community.
By merging their local know-how and global outlook, Shurooq and Eagle Hills Sharjah Development have married their creative visions to introduce new concepts in family leisure and entertainment as well as offer Sharjah’s residents an opportunity to enjoy aspirational living.
The UAE recorded almost 23.7 million traveller arrivals in 2022, up 89 per cent from 2021. Against this backdrop of growing visitor numbers in the UAE and Sharjah and the continued flow of professionals from around the world coming to work and settle for more extended periods, this JV’s projects and prospects have opened up innumerable opportunities for Sharjah and the rest of the country to continue on their spectacular trajectory of growth.