(MENAFN- Khaleej Times)
Sharjah will get the longest 'green river' in the Gulf region as a new Dh3.5-billion (nearly $1-billion) mixed-use project has been launched by Kuwait Real estate Company (Aqarat) and IFA Hotels and Resorts.
Located on Emirates Road near Sharjah Grand Mosque, the 'green river' in the newly-launched Al Tay Hills will be stretched over 2.5 kilometres, featuring extensive green space, natural beauty to the project and serving as the natural lung and central artery of the development.
Jamal Al Shawish, chief of sales and marketing at IFA Hotels and Resorts, said the 'green river' is designed as a unique recreational shape, providing fresh air, dedicated walking paths and relaxation areas.
In addition, the project offers playgrounds, a mosque, restaurants, a café, retail outlets, swimming pools and walking and cycling paths totalling 11 kilometres.
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Spread over six million square feet, the newly-launched community will house 1,100 townhouses and villas ranging from three-bedroom to six-bed rooms with prices starting from Dh1.8 million and going as high as Dh7.2 million.
The project will be developed in three phases and the first phase is scheduled for delivery in the first quarter of 2028.
“The UAE real estate market is one of the most attractive sectors regionally and globally. We are witnessing Sharjah's emergence as a preferred destination for investors, thanks to its appealing, safe and business-friendly investment environment, along with its commitment to enhance and develop the real estate sector,” said Talal Al-Bahar, vice-chairman and CEO of Aqarat.
He added that the project will set“new standards for sustainable living in the region".
Khaled Esbaitah, chairman of IFA Hotels and Resorts, said Sharjah is one of the most economically diverse emirates, and the government's initiative to allow owning freehold properties to all nationalities has given a good boost to the market.
“We have a great response and plenty of expression of interest,” said Al Shawish.
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