Gulf Construction Online

Real Estate

Maryam Gate Residences ... newly launched.

News in brief

01 March 2020

Eagle Hills Sharjah kicks off second phase of Maryam Island plan

Eagle Hills Sharjah, a joint venture between Sharjah Investment and Development Authority (Shurooq) and Abu Dhabi developer Eagle Hills, has kicked off the second phase of Maryam Island masterplan with the launch of Maryam Gate Residences in downtown Sharjah.

Located next to Maryam Beach Residences, it complements Maryam Island’s residential masterplan with six low-rise buildings providing easy access to the island’s main retail boulevard, internal garden spaces and canal views, including the city’s famous Mamzar and Al Khan beaches.

Noor Residences, an elegantly designed seven-storey building with a total of 87 apartments, is the first building to be launched. It offers studios to three-bedroom units with ground floor units benefiting from terraces with direct access to the common facilities.

Noor Residences lies on the island’s commercial boulevard offering breathtaking views of the Sharjah skyline and overlooking the canal.

Maryam Island is located in downtown Sharjah overlooking the Arabian Gulf. Beach access offers guests sunset views, while a 900-m promenade provides entertainment, amenities and culinary options, it adds.

Etihad Arena ... capacity to host up to 18,000 people.

Etihad Arena set to open in April

Leading UAE developer Miral has announced that Abu Dhabi’s first-of-its-kind multi-purpose indoor venue, Etihad Arena, has been completed and is all set to host its inaugural event by the mid-April.

Etihad Arena is located at Yas Bay, a 14-million-sq-ft mixed-use development on the southern end of Yas Island. Once open to the public, Etihad Arena is set to become a regional landmark for live entertainment.

With a flexible capacity ranging from 200 to 18,000 people, the venue has been designed to accommodate both large-scale and private events, offering audiences a broad range of experiences, says Miral.

On the arena opening, chairman Mohamed Khalifa Al Mubarak says: “We are excited to be soon hosting the first event at Etihad Arena, the most highly anticipated events landmark in Abu Dhabi this year.”

“The Arena has been designed to complement Yas Island’s vision by creating a new hub in the UAE and across the region. Etihad Arena, is yet another unique addition to Yas Island that will help position it as a top global destination for entertainment, leisure and business, while also contributing to the UAE’s vision for economic diversification,” he adds.

Ajman ... prices more competitive.

Sharjah, Ajman emerge favourites for ‘family-friendly living’

Despite stiff competition from the bigger markets of Dubai and Abu Dhabi, the northern emirates of Sharjah and Ajman remained strong contenders for affordable, family-friendly living in the UAE last year, according to Emirati property portal Bayut.

Transactions have also gone up in these cities, thanks to the attractive prices and resolutions passed by the governments in both cities, states Bayut in its end of year market report for 2019.

According to the Sharjah Real Estate Registration Department, 61,357 transactions were recorded last year, up 13.4 per cent compared to the property transactions in 2018.

Sharjah-based real estate developer Arada also reported a 33 per cent increase in sales in 2019, showing a growing interest in the primary segment of the northern emirate’s real estate market.

Both Ajman and Sharjah have benefited from the increased attention thanks to the new long-term visa rules, which gives real estate investors the added bonus of longer residency permits, it adds.

“When it comes to the popular locations to live in Sharjah and Ajman, areas such as Al Majaz, Al Khan, Ajman Downtown and Al Nuaimiya have retained their appeal over the course of 2019 with both buyers and tenants, thanks to prices becoming more affordable compared to the year before,” remarks Bayut CEO Haider Ali Khan.

The price trends for renting and buying apartments in Sharjah for 2019 are in line with the patterns seen in Dubai, he states. On Ajman, Bayut said the emirate had sustained interest from buyers and tenants with prices becoming more competitive across 2019.