SHARJAH: Sharjah has approved a budget of Dhs22 billion for the fiscal year with 24 percent dedicated to the development of infrastructure, a move that supports on-going programmes, particularly -Tilal City.
The monumental project exhibited during the recently concluded Acres Real Estate Exhibition at Expo Center Sharjah. Spread over an area of 25 million square feet in Sharjah, Tilal City is located on the Emirates Road(E-611), close to Dubai which is been developed by Tilal Properties.
Tilal Properties is a joint venture between the emirate’s investment arm, Sharjah Asset Management, and Eskan Real Estate Development. Following the sale success of Zone, A, and C at Tilal City, Tilal Properties have announced the sales launch for Zone B and D at the mixed-use community in Sharjah. Tilal City comprises of 1850 land plots and is the first opportunity for all nationalities UAE residents to buy land and develop properties in Sharjah. Thus far, Zone A and C have been made available to buyers and have sold 80 and 85 percent, respectively. It is noted that the Emirati, GCC and Arab nationals, whereas also non-Arab resident expatriates which include several Asian nationalities have bought land at the mixed-use community. Reports suggest that the number of real estate properties owned by GCC and Arab nationals in Sharjah is due to the emirate’s safe reputation and lucrative opportunities available for investment. The buyers will have an opportunity to buy plots in all zones including A, B, C and D which comprise of buildings G+3, G+4, G+5 & G+1 villa, where the plots are ready with complete infrastructure with a flexible in-house payment plan up to 36 months and 10 years finance plan from Sharjah Islamic Bank. “Since the launch of Zone, A, and C, we have received a huge number of buyers for our mixed-use community.
The demand exceeded our expectations, and we are confident that Zone B and D will witness a higher turnout, as investors are now fully aware of the potential features that the project offers. Investors will have an opportunity to pay the amount in intervals which will not only lower the commercial pressure but also guarantee the security of the project,” said Khalifa Shaibani, Director General, Tilal Properties. Tilal City is divided into four major zones, consisting of neighborhoods and residential clusters, which will offer affordable homes for residents while including commercial, office and retail space. The residential developments will be surrounded by a fifth zone, which will contain a shopping mall, central recreational park, and a 5-star hotel. Of the development’s total area, 13 million square feet will be used for property sales and 12 million square feet are set for public facilities, roads, and parks. Image(s) text: Tilal City comprises 1,850 land plots and is the first opportunity for all UAE nationalities to buy land and develop properties in Sharjah.