Construction & Real Estate
From The Report: Sharjah 2021
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Sharjah has worked to brand itself as a unique location within the UAE and the wider GCC, which has resulted in an uptick in work for contractors as they try to close the gap in supply and demand for real estate, especially in the residential segment and for other family-friendly infrastructure. Although the Covid-19 pandemic temporarily disrupted the market, mixed-use developments that incorporate residential units, schools and retail outlets – along with leisure activities and green spaces – have been emerging to meet high demand. Unlike in years past, when demand largely came from those seeking more affordable alternatives to neighbouring emirates, much of the interest is coming from individuals and families who are drawn to Sharjah’s laid-back and authentic Arab culture.

This chapter contains interviews with Ahmed Alkhoshaibi, CEO, Arada; and George Khouzami, COO, Al Thuriah Group.

Articles from this Chapter

Overview

On solid ground: Local production of materials drives development as the value of real estate transactions increases with demand
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The emirate of Sharjah has worked to brand itself as a unique place within the UAE and the wider GCC, which has resulted in an uptick in work for contractors as they try to close the gap in supply and demand for real estate, especially in the residential segment and for other family-friendly infrastructure. Although the Covid-19 pandemic temporarily disrupted the market, mixed-use developments that incorporate residential units, schools and retail outlets – along with a healthy dose of leisure…

Interview

Building principles: Ahmed Alkhoshaibi, CEO, Arada, on emerging development trends and environmental standards
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Interview:Ahmed Alkhoshaibi In what ways are real estate developers pursuing differentiated residential projects or aligning their products with the needs of target markets? AHMED ALKHOSHAIBI: Similar to the importance of diversification to Sharjah’s economy, a wide range of products for end users and investors is key for developers. For instance, Nest at the Aljada mega-project is a first-ofits-kind student accommodation in the Gulf. To meet investor demand, we have structured a product…

Interview

Staying competitive: George Khouzami, COO, Al Thuriah Group, on how technology is optimising real estate services
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Interview:George Khouzami Which factors are driving demand for residential real estate in Sharjah, and how has the Covid-19 pandemic impacted these trends? GEORGE KHOUZAMI: Sharjah has recently emerged as one of the most in-demand emirates for real estate due to its vibrant environment, prime location and affordability. Middle-income individuals benefit from spacious homes, a lower cost of living, and reasonable and high-quality education options. The larger residential properties proved…

Analysis

Road to growth: Sustainability, well-being and digitalisation emerge as central aspects of global infrastructure programmes
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Following a year of pandemic-related disruptions, there appears to be a greater focus on sustainable, digital and health-related projects; for example, in the Belt and Road Initiative (BRI), of which the UAE is one of the key participants in the Middle East. Launched in 2013, the BRI is an ambitious international initiative that aims to revive ancient Silk Road trade routes through largescale infrastructure development. By the start of 2020 some 2951 BRI-linked projects – valued at a total of $3.9trn…

Analysis

Green base: Infrastructure spending and a focus on sustainability support economic recovery in emerging markets
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Many emerging markets are turning to infrastructure projects to stimulate recovery from the Covid-19 pandemic, with a particular focus on green and sustainable developments. Despite the broader downturn in 2020 – which the IMF says resulted in the global economy contracting by 3.5% – the number of newly announced infrastructure projects increased by 5%, according to analysis from global financial data company Refinitiv. In total, 2550 new projects were announced in 2020, with a combined value…