Under the patronage of the Ruler of Sharjah, Sheikh Doctor Sultan bin Mohammed Al Qassimi, Sharjah Crown Prince Sheikh Sultan Bin Mohammed Al Qassimi unveiled Nujoom Islands, the largest commercial, residential, and tourism development project ever built in the Emirate of Sharjah. The AED 18 billion project, which will cover 60 million square feet of prime coastal land near the village of Hamriya, will be developed by Saudi real estate giant Al Hanoo Holding Company.
Nujoom Islands is the first project of its kind ever built in Sharjah. It will be an integrated modern tourist city and will include several residential districts built to accommodate 40,000 residents. Only 40% of the land area will contain structures while 60% will be landscaped with beaches, gardens, parks, and roads. While the original coastal area of Hamriya covered three kilometers of beachfront, Nujoom Islands with its extensive waterway systems, will produce 33 kilometers of prime beach front land.
Nujoom Islands project is located on the northeastern coast of Sharjah at a distance of 20 kilometers from the heart of Dubai. The project is linked to the three main cities in the Emirate with a series of expressways built according to the highest international standards. The first expressway is the original Ettihad road which crosses the southern side of the project, the second expressway is the Emirates Road which connects to the project via an eight kilometer strip and the third expressway is the extension of the Dubai ring road which links directly to the Emirates road through a series of extensions close to Nujoom Islands.
According to Al Hanoo Holding Company, the luxury development project will be constructed at a strategic location on the shores of the Arabian Gulf in three stages over a period of five years. The residential units will be offered for sale soon after completion of the infrastructure and service facilities.
The Nujoom Islands project will consist of 13 sectors of land of which the first three will represent the outer main land of the project in addition to ten islands separated by well-designed water channels. The three main land sectors will connect to Sharjah and overlook the channels. Engineering studies have been implemented by global consultants to develop an ecologically sound waterway system that draws in seawater through a state of the filtration and circulation system.
The islands will include 40 high rises for residential and offices purposes, 145 apartment buildings, four hotels, two resorts, 1400 water front and park side villas, five marine clubs, a large commercial center including a hypermarket, and nine smaller commercial centers, two entertainment centers and six centers for light industries. With the huge amount being invested and the large area of the project, this will be the biggest tourist landmark in the GCC.
The project will also include several mosques, schools, banks and stores, as well as coffee shops and restaurants. Nujoom Islands will enjoy wide streets and internal bridges connecting the islands and large interchanges connecting the project with main highways, gardens and large green areas, with car parking areas distributed throughout the project in a well-planned manner. Sheikh Al Shakra said, “Nujoom Islands is a residential and commercial real estate project that Al Hanoo is launching for investors of all nationalities. It comes as a continuation of three decades of success by Al Hanoo in the real estate development business. Taking into consideration that the development climate in Sharjah is highly attractive, Al Hanoo is committed to developing real estate projects in the United Arab Emirates.”
Master Plan Approved
The Government of Sharjah has already approved the master plan of the Nujoom Islands project and various infrastructure design studies and architectural plans are already complete. Considering the high quality components and strategic location, the investment cost of the project is comparatively low, a factor that leads experts to expect high profits from this prime real estate development.
Establishment of Nujoom Islands Company
Al Hanoo Holding established Nujoom Islands Company, an independent company to develop and manage the Nujoom Islands Project with a series of strategic partners from the Gulf States.
Generous Support
Mr. Abdullah Al Shakra added that one of the most important success factors of this project is the continuous support of HH Sheikh Dr. Sultan bin Mohammed Al Qasmi, Governor of Sharjah, who has given his full endorsement and encouragement from the very beginning including concept, studies, and designs, and approval of the Master Plan and the various execution phases until the project is launched in its final form.
Finance and Investment
At the press conference Mr. Abdullah Al Shakra announced the establishment of Nujoom Islands Company. The Nujoom Islands will be mainly financed by the partners, while certain sections of the project will be offered to investors. The first stage will include construction of the infrastructure, services and facilities for the whole city.
Continuous Success
Nujoom Islands is the second project of Al Hanoo Holding Company in the UAE and follows Al Hanoo’s first and highly successful project in Sharjah, which was the Emirates Industrial City built at a cost of more than AED 3 billion.
Mr. Al Shakra went on to say “Sharjah is distinguished by its huge potential as a highly promising market for real estate development projects. That is why Al Hanoo is focusing its operations in this Emirate through these two major projects in the real estate and infrastructure fields.”
© 2005 Al Bawaba (www.albawaba.com)
