IFA Hotels & Resorts starts work on $952mln Sharjah residential project
The project is being developed by Kuwait Real Estate Company, in collaboration with IFA Hotels & Resorts, at a total cost of AED3.5 billion ($952 million).
Spread over 6 million sq ft area, Al Tay Hills will boast more than 1,100 residential units comprising villas and townhouses of various designs and spaces, said the statement from IFA Hotels & Resorts.
The project's units range from three- to six-bedroom units and will also have luxury facilities such as private pools and green spaces, spread over three developmental phases, it stated.
As the project master developer, Eva Hotels & Resorts was upbeat on the progress being made at the project site since its launched in January this year.
The completion of the land leveling works and the commencement of construction work is an important step in the implementation schedule of the project, thus reflecting the company's commitment to delivering its projects on time, it stated.
The first phase of the project is scheduled for delivery in the first quarter of 2028, it added.
Khalid Esbita, Chairman of IFA Hotels & Resorts, said: "Al Tai Hills is one of our most strategic projects in the UAE real estate market, and the completion of land settlement works in a record period of time is a testament to the high efficiency of our team and partners."
Lauding the overwhelming response from investors for the Al Tay Hills residential units, Esbita stated that it reflected the increasing demand for the real estate market in Sharjah, which has become a preferred destination for living and investing, and a pioneer thanks to its advanced infrastructure and supportive environment for businesses and sustainable residential communities.
"This milestone is another step in IFA Hotels & Resorts' journey to establish itself as one of the region's leading developers, reaffirming its commitment to delivering high-end residential projects that meet the aspirations of investors and provide promising investment opportunities in Sharjah," he added.
Copyright 2024 Al Hilal Publishing and Marketing Group Provided by SyndiGate Media Inc. (Syndigate.info).
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