Construction & Real Estate
From The Report: Sharjah 2018
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With a host of real estate, major transport and infrastructure projects either being developed or in the pipeline, Sharjah’s construction sector is going through a busy time. Much of the new work is addressing previous shortages in areas such as gated and lifestyle communities, higher-end offices and retail premises, and more modern industrial estates. Sharjah has also begun to carve out a distinct profile on the global real estate property map. The emirate has committed to higher-end developments, while also widening ownership structures. It has grown both economically and demographically, and now offers its own much larger internal market, which is no longer so closely tied to developments elsewhere. This chapter contain an interview with Sheikh Sultan bin Ahmed Al Qasimi, Chairman, Basma Group; and Chairman, ARADA; and Raymond Khouzami, CEO, Al Thuriah Group.

Articles from this Chapter

Overview

Opening the door: Diverse investments providing new spaces for business to thrive
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With a host of real estate, major transport and infrastructure projects either being developed or in the pipeline, Sharjah’s construction sector is going through a busy time. Much of the new work is addressing previous shortages in areas such as gated and lifestyle communities, higher-end offices and retail premises, and more modern industrial estates. This presents contractors, architects and developers with a much wider range of opportunities than in previous years, when Sharjah was largely…

Interview

Sheikh Sultan bin Ahmed Al Qasimi, Chairman, Basma Group; and Chairman, ARADA
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Interview:Sheikh Sultan bin Ahmed Al Qasimi What factors are driving demand for mixed-use developments in Sharjah’s property market? SHEIKH SULTAN BIN AHMED AL QASAMI: Sharjah has long provided a cultural and family-oriented environment, and has more affordable local real estate and living costs than many other emirates, but we believe there is pent-up demand in the local market for well-designed, contemporary communities that have integrated amenities at an accessible price. Given the…

Interview

Raymond Khouzami, CEO, Al Thuriah Group
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Interview:Raymond Khouzami How will the demand for mid-market properties drive growth in Sharjah’s real estate sector? RAYMOND KHOUZAMI: Traditionally, Sharjah’s real estate market has been driven by customers attracted to a strong sense of community and its family-friendly environment. A price-driven market, the majority of buyers prefer larger, affordable accommodation as the comparatively generous size of local properties continue to be a key selling point. Rates of return remain strong…

Overview

Finding its niche: Transaction volumes rise against a backdrop of diverse real estate project development
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Located in the heart of one of the Middle East’s most vibrant real estate markets, Sharjah has begun to carve out its own distinct profile on the global property map. The emirate has committed to higher-end developments, while widening ownership structures. It has also grown both economically and demographically, now offering its own much larger internal market no longer so closely tied to developments elsewhere. Recent months indicate that the market has overcome the economic lull that…

Analysis

Transforming the landscape: An array of major projects are set to revitalise the emirate’s retail and residential offerings
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The next few years are scheduled to see a range of major mixed-use real estate projects come on-line in the emirate, with these likely to transform its built landscape and global appeal for investors and visitors alike. One of the largest is the Dh25bn ($6.8bn), 60m-sq-feet Sharjah Waterfront City, which includes eight artificial islands, a series of canals, a brace of interconnecting bridges and a Dh220m ($59.9m) electricity substation that will supply 700 MW of power to the city’s residents.…