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Dubai: UAE developers were out in strength to garner investor attention for their projects as the Acres Middle East Investment Real Estate Exhibition opened on Wednesday. The four-day event is taking place at the Expo Center Sharjah.
Sharjah Oasis Real Estate Development was showcasing phase 1 of its Sharjah Waterfront City, the infrastructure works of which are scheduled for a June completion. “We have been working aggressively with our partners on meeting the previously communicated deadlines and we are proud to see that the team managed to deliver on the promise” said Hayssam Al Masri, President of Sharjah Oasis Real Estate.
See related story: Massive waterfront project to rise in Sharjah
Structured investment deals are now available to developers, institutional and high networth individuals. “The demand on this project has exceeded our expectations and we look forward delivering quality residential, retail and hospitality in Sharjah for the Arab world,” said Al Masri.
Sharjah Waterfront City, spread across a 36 kilometre of coastline with a total area of 60 million square feet, has been conceived as a tourist and hospitality hub for the emirate, apart from serving its resident base.
Meanwhile, Dubai Investments had on show include Mirdif Hills, a self-contained community adjacent Mushrif Park in Dubai, at Acres. The project, spread across 3.9 million square feet, includes over 1,500 apartments, retail outlets, hotel and other features.
According to Obaid Al Salami, General Manager of DIRC, said: “The overall economic landscape is challenging and the real estate sector is witnessing a cyclical slowdown across the region. However, the fundamentals of the UAE real estate sector remain strong.”
Source: Staff Report, gulfnews.com