UAE Focus

UAE Focus

Umm Al Quwain attracts mega projects

01 September 2005

Two leading property developers in the region have announced the development of two mega projects in the northern emirate of Umm Al Quwain.

Construction work on the first, five-year phase of an ambitious Dh30 billion ($8.2 billion) real estate project to come up in Umm Al Quwain, is expected to start later this year.
The project, launched by UAE and Saudi investors, will be carried out in phases over the next 15 years.
Sharjah-based Tameer Holdings and the Al Rajhi Group of Saudi Arabia each own 38.5 per cent of the project.
The local government of Umm Al Quwain holds the remaining 23 per cent.
In a separate development, another mega real estate project to come up in the emirate has reached the tendering stage.
Following the finalisation of the masterplan for the Dh12 billion ($3.3 billion) real estate project, known as the Umm Al Quwain Marina, tendering, infrastructure engineering and project management are expected to begin shortly.
The masterplan blueprint would see the development of 2,600 residential villas and 6,500 apartments – a vast majority either waterfront or beach front coming up on the shore of Khor Al Beidah. Once complete, the project would offer more than 9,000 homes.
The Marina will cover more than 1,488 acres and is scheduled for completion within seven years. Some of the villas with waterfront views will be built on a large island with gated access and a series of smaller private islands will offer luxury waterfront villas. An additional 1,200 resort and hotel rooms are planned as well as parks and recreational areas, retail facilities, schools and community centres.




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