Sharjah / Emirates Business
Tilal Properties, the pioneering Sharjah-based real estate developer, on Sunday revealed that investors from more than 25 countries had so far purchased land plots at Tilal City, the first master-planned community in the emirate.
According to the developer, investor’s interest has been driven by the attractive leasehold and freehold investment opportunities in a market traditionally dominated by GCC national investors. The AED2.4 billion development has revolutionised Sharjah’s real estate market, enabling non-Arab expats to purchase land plots on a 100-year leasehold basis within the scheme, with freehold land plots available for GCC nationals and UAE’s Arab residents.
The initiative opened up the emirate to a new wave investors, helping diversify the property sector in Sharjah and contributing to the long-term development of the emirate. Tilal City allows investors to build for sale, leasing and personal use.
Tilal City comprises 1855 land plots. Split into five zones (A-E), the master-planned development will occupy an area of 25 million square feet and provide high-quality, affordable housing for 55,000 – 65,000 residents in apartments, villas and townhouses. The developer confirmed that investors represent the UAE, GCC and wider Middle East regions, as well as Europe and America. Tilal Properties also revealed that buyers are showing substantial interest in building plots designated for residential, retail and commercial use across zones A, B and D due to the retail component. Investors are looking upon these plots as ideal second income generators and a stepping stone into the real estate development and sales business.
The most acquired properties so far are detached villas followed by apartments, semi-attached villas and town houses. An expected outcome, buyers in this category are long-term Sharjah residents from the wider Arab world and non-Arab
“‘The strong interest we have received from investors to date, confirms how the unique ownership opportunities are attracting both Arab and expat buyers from across the Middle East region,” said Haysam Jazairi, Business Development Executive Director at Tilal Properties.
“With the diverse investor profiles, we are already seeing how this unique development can benefit multiple segments of our society with accessibility and excellence in service. We are proud to be leading the way in changing the real estate game in Sharjah and are committed to supporting our buyers and investors throughout the project’s entirety.”
Strategically located on Emirates Road, Tilal City is just 10 kilometres from Sharjah’s International Airport and within convenient commuting distance to nearby Emirates, with Dubai only 2km away.
Cluttons, the global real estate agent, is the exclusive marketing and sales agent of Tilal City. Tilal City are well placed and committed to deliver properties on schedule. For further information, prospective buyers can visit www.tilaluae.com, or can call 800-TILAL.