By Staff writer
Developer says initial work on roads is complete; first handovers scheduled by the end of 2016
Tilal Properties, the real estate developer, has announced that it is making "excellent progress" with its AED2.4 billion ($653 million) Tilal City development in Sharjah.
A year since the launch of the project, the developers said they have completed the initial laying of the arterial roads and ongoing works on secondary roads.
They added in a statement that the first handover of properties will take place by the end of 2016.
"Excellent progress has been made at Tilal City over the past 12 months," said Haysam Jazairi, business development executive director, Tilal Properties.
"The completion of the initial phase of roadworks has also paved the way for other significant developments such as the installation of water and sewage pipelines and electric cable. We are in excellent shape to be ready to hand over Zone A and C at the end of next year."
Tilal City will comprise 1,855 land plots, offering the opportunity to GCC nationals as well as UAE residents to buy or lease land and develop properties in Sharjah.
Split into five zones (A-E), the masterplanned development will occupy an area of 25 million square feet and provide affordable housing for up to 65,000 residents in apartments, villas and townhouses.
Tilal City allows investors to build for sale, leasing and personal use. Non-Arab expats can 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.