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September 16th 2020Shurooq

Phase 1 of Shurooq’s $1.2bn Maryam Island to complete in Dec ’20

The Sharjah Investment and Development Authority (Shurooq) has shared updates on developments being witnessed across its portfolio of large-scale real estate, tourism, commercial, and hospitality projects, in line with the gradual reopening of businesses across the UAE.

The projects scheduled for completion this year, and some of the signature projects expected to be completed within the next two years, include Maryam Island, The Kalba Waterfront, Palace Al Khan, and Avenues Mall Sharjah.

Maryam Island

Located in downtown Sharjah overlooking the Arabian Sea, Maryam Island, is one of Sharjah’s largest real estate projects and is developed by Eagle Hills Sharjah Development – a joint venture between Shurooq and Eagle Hills.

Nestled in the centre of Sharjah, $1.225bn (AED4.5bn) Maryam Island project, extending over an area of 460,000m2, will offer an array of luxury residential apartments, four- and five-star hotels, waterfront food and beverage outlets, cafés, retail shops, leisure facilities, a dock, and green spaces.

Phase 1 of the project, Maryam Beach Residence, will be completed in December 2020. It will include 688 residential units, a swimming pool, children’s play zone and kids’ swimming pool, beach access, 40 retail outlets and F&B units.

Phase 2 of the project, Maryam Gate Residences, will be delivered in 2022.

The Kalba Waterfront

The largest retail and first inclusive waterfront destination in Kalba – The Kalba Waterfront – developed by Eagle Hills Sharjah Development, a joint venture between Shurooq and Eagle Hills, is part of the Kalba Eco-Tourism Project.

The $43m (AED160m) Kalba Waterfront boasts a magnificent view of a serene lagoon lined by mangroves and has a total built-up area of 17,000m2. The shopping mall features 86 retail outlets, a supermarket, a family entertainment centre, and a large food court.

It is designed as an integrated outdoor shopping experience and is scheduled for completion in the Q2 2021.

Palace Al Khan and Avenues Mall Sharjah

Located in downtown Sharjah overlooking the Arabian Sea and, Palace Al Khan is the third project developed under the Eagle Hills Sharjah Development banner and offers a blend of nature and state-of-the-art facilities.

Complete with a spa, a fitness club, an outdoor swimming pool, conference facilities and parking, the $32.6m (AED120m) Palace Al Khan comprises 88 keys in total, including executive suites.

Shurooq is also enhancing Sharjah’s retail climate with the Avenues Mall Sharjah, a 65,000m2 venture developed in partnership with leading Kuwaiti real estate developer, Mabanee, near the Mughaider suburb at the junction of Sheikh Mohamed bin Zayed and Al Dhaid Road in Sharjah.

Set to be inaugurated in the Q4 2022, the project will feature 71 leasing units comprising 70% retail and 30% F&B outlets, according to state-run news agency, Wam