Sharjah Oasis Real Estate Co announces progress on Sharjah Waterfront City project
Sharjah Oasis Real Estate Co, the developer of the AED25 billion ($6.8 billion) Sharjah Waterfront City project, has announced the launch of construction of phase one worth AED3 billion ($820 million).
The landmark announcement comes as Sharjah Oasis Real Estate Co hands over two power transmission and distribution plants to ensure uninterrupted supply of up to 700 megawatt (MW) electricity – enough to power the entire urban waterfront community where more than 60,000 people are expected to live.
This is one of the first developments where the private developer has built its own such large power distribution and transmission plant and handed over the assets to SEWA, the state-owned public utility.
“I am pleased to announce the completion of AED3 billion worth of infrastructure works within Sharjah Waterfront City, including removal of 12 million cubic metres of sand to dig 3.5 metres deep canals with width spanning 100-300 metres and create eight islands within the landscape that helped us to create 20 kilometres of new coastline and beachfront properties,” said Sheikh Abdullah Al-Shakrah, chairman of Sharjah Oasis Real Estate Co.
He added: “It is a city within a city and features integrated facilities where people can live, work and relax shop, dine and enjoy the best lifestyle. Sharjah Waterfront City stretches over 60 million square feet of the Gulf's pristine coastline, making it an ideal destination for residents and tourists.”
The project consists of eight islands to create a community of 60,000 people living in 1,500 luxury villas and smart homes, 95 mixed-use towers, and a number of hotels, shopping centres, stylish office complexes, in addition to a marina with a capacity of 800 berths.