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Shurooq, Diamond Developers to launch mixed-use project in Sharjah

Shurooq and Diamond Developers will host an official launch ceremony sometime this year, during which the full details of the planned green project will be revealed

Shurooq and Diamond Developers have signed an agreement to develop a mixed-use project in Sharjah.
Shurooq and Diamond Developers have signed an agreement to develop a mixed-use project in Sharjah.

Sharjah Investment and Development Authority (Shurooq) has signed an agreement with Diamond Developers, the company behind the Sustainable City in Dubai, to deliver a sustainable, mixed-use project in Sharjah.

In a statement, Shurooq said that the planned green project is in line with its aim to develop strategic partnerships with the private sector and boost the emirate’s economic diversification efforts.

No specific information about the project has been released, but Shurooq revealed that an official launch ceremony will be held this year, during which the full details of the development will be disclosed.

IN PICTURES: Sharjah's $735m real estate projects

Sheikha Bodour bint Sultan Al Qasimi, chairperson of Shurooq, commented: “Sharjah is considered one of the leading destinations in the region for environmental sustainability and responsibility, thanks to its […] eco-friendly and environmental protection initiatives.

“Through this new partnership, we will use these achievements in expanding our development initiatives for fully integrated and environmentally friendly communities in Sharjah, as well as empowering our citizens to follow a similar responsible lifestyle and strengthening the emirate’s position as a sustainable, eco-friendly city for many generations to come.”

She added: “As one of the emirate’s main drivers of economic growth, Shurooq believes in the need to combine public-private efforts to reinforce the competitive edge of the real estate sector and work together to launch joint projects.”

READ: Is Sharjah a hidden gem for regional developers?

Meanwhile, Faris Saeed, chief executive officer of Diamond Developers, said: “Sharjah’s flourishing real estate sector has achieved highly promising growth rates over recent years.

“With our […] experience in developing sustainable projects, we are confident that our partnership with Shurooq will benefit all parties, foremost of which is Sharjah’s community.” 

He added: “We aspire to move forward in cementing the sector’s […] reputation through this joint venture and set new benchmarks for a contemporary lifestyle in a mixed-use community, ensuring the highest levels of sustainability and conservation of natural resources for both residents and visitors."

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Construction Week - Issue 734
Mar 21, 2019