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Home / NEWS / New, $190m mixed-use project launched in Sharjah

New, $190m mixed-use project launched in Sharjah

by Michael Fahy on Feb 26, 2015


L-R: Terna Construction chairman Dimitrios Antonakos, JMS CEO Randa Kamal, Cluttons ME CEO Steve Morgan and B&H ME senior principal Tonu Altosaar
L-R: Terna Construction chairman Dimitrios Antonakos, JMS CEO Randa Kamal, Cluttons ME CEO Steve Morgan and B&H ME senior principal Tonu Altosaar

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Sharjah-based property developer, JMS Property Development & Management, has launched a new, mixed-use scheme known as Al Rayyan in the Al Nadha district close to the Dubai border.

The $190.5m (AED700m) mixed-use project will contain residential, commercial and retail units spread across a 2.7m ft2 site.

The developer said that the scheme would be the first in Sharjah where properties are available under leaseholds to non-GCC residents of the UAE.

The project will contain two residential towers containing 504 apartments, one commercial tower and a retail complex. The top 12 floors of the commercial tower will also contain serviced hotel apartments and the mall will house a 204,500ft2 hypermarket and 80-90 shops.

The development will also house male and female spa facilities, landscaped leisure areas and 24-hour security. The developer aims to complete all of the residential and retail units by the end of Q1 2016, while the commercial tower will be completed to shell and core by Q2 2016.

The project has been designed by architecture practice B&H and will be built by Terna Construction.

Randa Kamal, CEO of JMS Property Development & Management, said: “The Al Rayyan development contains many ‘firsts’ for Sharjah. Mixed-use developments have coupled the residential offering with retail and leisure facilities, or with commercial space, but this is the first to combine all three lifestyle elements of living, leisure, and work. We are also delighted to be offering leaseholds to non-GCC expatriates.”

 



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