Dh25 billion Waterfront City in Sharjah by 2019
Phase 1 of Sharjah's Waterfront City construction begins
Stage 1 of the Waterfront City construction in the city of Sharjah is currently being constructed with 321 villa units and scheduled to be finished by 2019.
The handlers of the Waterfront City project, Sharjah Oasis Real Estate Co., announced to the media last Tuesday morning that the construction of the project is progressing on the ‘Sun Island’ which is one of the 8 islands that will make up this 60 million sq. ft. project.
Phase 1 of the Waterfront City construction began
The Waterfront City will have 8 natural islands that are connected with each other and will include several residential units, commercial units, malls and more.
Phase 1 of this project will build and provide 321 villa units for residents. This 321 residential units in the Sun Island are classified into groups:
- Three-bedroom villas
- Four-bedroom villas
- Five-bedroom villas
- Six-bedroom villas
“More than 50 per cent of the units in Phase 1 have been sold, which is a reflection of the confidence that people have, not just in the development, but in the property sector in Sharjah,” stated by Sultan Al Shakrah, CEO of the Sharjah Oasis Real Estate Co.
He also stated that the whole project will be constructed in six different phases. Phase 2 of the project is expected to begin its construction by the end of 2018 and that phase 2 would also have commercial units and two hotels to offer.
This Dh25 billion project is expected to be fully constructed in 8-10 years. The CEO of Sharjah Oasis Real Estate Co. also clarified that the market conditions during the construction will be a major key factor of this project.
“However, we have a target of completing all the vital project infrastructure by 2021, because without the proper infrastructure in place there is no project,” Al Shakrah said
“The good thing about the property market in Sharjah is that it is stable and we are fully supported by the government of the emirate as well as the private sector,” he said. “We believe in having the right product at the right location. What is unique about this project is that it offers direct sea views; there are a limited number of projects in the UAE that offer such stunning beachside views.”
The CEO also noted that the Waterfront City project will boost Sharjah’s tourism and business industry in the future.
The project currently has Dh3 billion worth of construction work. This includes 2 power transmission plants, that is worth Dh250 million to guarantee that there would be enough supply of electricity in the project.
“I am pleased to announce the completion of Dh3 billion worth of infrastructure works within Sharjah Waterfront City, including the removal of 12 million cubic metres of sand to dig 3.5 metre deep canals with a width spanning between 100-300 metres to create eight islands within the landscape, that helped us to create 20 kilometres of new coastline and beachfront properties,” said by the chairman of Sharjah Oasis Real Estate Co.
Upon the completion of Waterfront City, this project will have 1,500 villas, 14 hotels, 95 towers and 800 docks for the boats and yachts located in the marina.
The towers are said that it will be for commercial and residential use. “The 14 hotels will be a mixture of four and five-star properties located along the beaches. We have signed a joint venture with Dusit, as well as with Kempinski for two of the hotel properties. There has also been a great amount of interest from various schools, universities, and hospital groups in the development.” said by Mohamad Chadi Itani, media and marketing consultant of Sharjah Oasis Real Estate Development.
The expected population in this city is roughly around 150,000 people this includes the visitors and residents. Waterfront City will provide 3 shopping malls, which would offer entertainment, shopping experience, leisure and cuisines from around the world.