Sharjah Waterfront City set for Cityscape launch
The 557ha development will be launched at Cityscape Global next month, with the developer confirming phase one of the project will cost up to $2.5bn
A waterfront city is being constructed in the UAE's Sharjah Emirate, with a phase one cost of $2.5bn (AED9.35bn), set to be launched at Cityscape Global next month.
Sharjah Waterfront City will span 36km of coastline, across a total area of 557ha (60 million sqf), comprising 10 islands connected by natural canals.
Developer firm Sharjah Oasis Real Estate declined to comment on the total cost of the entire project: "We cannot comment on the total cost of the project as it will vary depending on market conditions and future prices."
Construction of the first phase, which spreads across 27ha (3 million sqf), will begin in the fourth quarter of 2015, and is expected to be completed in the third quarter of 2018.
Up to 200 towers residential and commercial towers, 95 apartment buildings, hotels, service apartments, and at least 1,100 waterfront and park-side villas are due to be constructed during the project's first phase.
A water theme park, shopping mall, entertainment centres, schools, mosques, and restaurants will also be built during phase one.
"Our objective is to develop Sharjah Waterfront City as the epitome of privacy, luxury and status," Hayssam El Masri, president of Sharjah Oasis Real Estate Development, local daily Khaleej Times reported.
All required approvals for the project have been obtained, and infrastructure construction is on in full swing on the project, the report added.
Work on the reclamation of land, canals interconnecting ten islands, and piling has been completed.
Drawings for the roads and utilities and full infrastructure design have also been completed, the report added.
Darwish Engineering has started construction work for interconnecting islands through bridges, while WSP Parsons Brinckerhoff is executing traffic impact study for the project.