Sharjah Investment and Development Authority (Shurooq) plans to invest Dh5 billion ($ 1.4 billion) in tourism development projects by the year 2018, in Sharjah city, Sharjah’s east coast and in island resorts.
Shurooq has allocated about Dh500 million ($136 million) for the development of Sir Bu Nuair Island, Dh300 million ($82 million) for Kalba Eco-Tourism project, Dh450 million ($123 million) for Al Jabal Resort, The Chedi Khorfakkan resort, Dh120 million ($33 million) for Al Bait Hotel in the Heart of Sharjah district and some Dh80 million ($22 million) for Al Noor Island, a futuristic attraction in Sharjah city’s Khaled Lagoon.Shurooq’s main focus areas will be eco-tourism, archaeological tourism and cultural tourism and it is working on a number of joint ventures for the same, says Elie J Armaly, director of business development, Shurooq. Besides the Chedi Korfokkan, Shurooq will also build a Chedi in Sharjah, which will be a 50-room boutique hotel at a cost of Dh80 million ($22 million) slated to open in 2017. A US hotel group has signed up to run the Dh200 million hotel that is planned in Kalba, which will take two to three years for completion, he says. A mall will also be built adjoining the Kalba hotel for which a feasibility study is currently in progress, Armaly tells
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Besides starting a tour operator in Sharjah as a joint venture, Shurooq will build a Dh50 million mall in Dibba for which construction work will start this year, he says.Other projects include the development of Al Hisn Island, a leisure and tourist attraction located in the town of Dibba Al Hisn on Sharjah’s east coast. The plans for the island leisure resort are inspired by the Islamic architecture of Andalusia in Spain. Al Hisn Island will offer entertainment, restaurants, landscaped areas and children’s play areas.Shurooq is also planning a two-phase development of Khorfakkan’s corniche in conjunction with the city’s directorate of public works, to create a world-class tourism and leisure destination, whilst making the most of the area’s natural beauty. Plans include besides the hotel, a waterpark and a variety of tourism and leisure attractions. The beach front development will also feature sports facilities and purpose-built running and bicycle tracks.The Mleiha Archaeological and Eco-tourism multiphase project will create a new tourist attraction in the UAE and the wider Arab region with an estimated Dh250 million expected to be invested in Mleiha over the next few years. The Mleiha tourist destination, one of the most important archeological sites in the UAE, has been created in the vicinity of various ruins and burial sites that date back to ancient times, some more than hundred thousands of years.Meanwhile, leading property developers Emaar and Eagle Hills have formed a new property venture with Shurooq. The project would support the emirate’s economic expansion plans. The newly formed company, Omran Properties, will seek to develop investment, commercial, industrial and real estate projects and beyond, with an initial focus on real estate development, shopping malls and hospitality.Shurooq will own 34 per cent of Omran’s capital, while Emaar and Eagle Hills will each hold a 33 per cent stake. The new developer will be headquartered in Sharjah, with the prospect of other offices opened in other international locations.
TTN Staff Report
