Bodour Al Qasimi leads a Shurooq-Eagle Hills board meeting to define fresh objectives for fostering vibrant expansion
Dynamic and diversified growth expected in Sharjah this year as the joint venture’s marquee residential, retail and leisure projects continue increase the emirate’s global profile
Sharjah, March 22, 2023
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 H.E. Mohamed Al Abbar, Chairman of Eagle Hills; H.E. Ahmed Obaid Al Qaseer, CEO of (Shurooq); Mr. 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 UAE on the global map with world-class, sustainable and futuristic projects like Maryam Island and the Kalba Waterfront, which are redefining the global outlook towards urbanisation and renewal. During the discussions, which brought into focus the timeline of projects underway, their progress, achievements, volume of sales, among other key aspects, Sheikha Bodour Al Qasimi lauded the immense fiscal and social value that has been created by the joint venture since 2018 for Sharjah and the region.
The (Shurooq) Chairperson also strongly backed the strategic decisions taken at the board meeting to set the roadmap for 2023 and beyond, underscoring that the plans put forth clearly 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 steadily 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 as well as 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 His Highness Sheikh Dr. Sultan bin Muhammad Al Qasimi, Member of the Supreme Council and Ruler of Sharjah to boost the emirate’s economic diversification plans, the joint venture has facilitated the larger footfalls to Sharjah, offered a boost to the local economy and increased investment and employment opportunities in the UAE.
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, leisure facilities such as fitness club, swimming pool, community centre, a marina, and green spaces. With phase 2 underway for delivery this year, phase 1 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 alongside providing distinctive new touristic experiences, particularly those inspired by nature and adventure. The destination is offering a major 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, as well as the continued flow of professionals from around the world coming in to work and settle for longer periods of time, this JV’s projects and future prospects have opened up innumerable opportunities for Sharjah and the rest of the country to continue on their spectacular trajectory of growth.