UAE Focus

Maryam Island ... a $615-million mixed-use development.

Maryam Island ... a $615-million mixed-use development.

Omran invests $672m in Sharjah

April 2017

UAE-based Omran Properties has announced plans to launch three real estate projects worth a total Dh2.47 billion ($672 million) in Sharjah as part of its massive investment drive.

The company, established in 2016 through a strategic partnership between Sharjah Investment and Development Authority (Shurooq), Dubai’s Emaar Properties and Eagle Hills, an Abu Dhabi-based developer, is slated to launch these projects later this year.

The largest of the developments is Maryam Island, a Dh2.26-billion ($615 million) mixed-use development located between Al Khan Lagoon and Al Mamzar peninsula. The award-winning Al Khan Village Resort, a five-star hotel, is worth Dh121 million ($33 million) and Kalba Waterfront Mall in the Eastern region of the emirate has a development cost valued at Dh106 million ($29 million).

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