“Tilal Real Estate,” a leading real estate development and investment company and the top developer of residential complexes and freehold projects in the Emirate of Sharjah, has launched its flagship project, “Tilal City,” the first mixed-use project of its kind in the emirate, at a cost of 2.4 billion dirhams. The project aims to introduce a new category of real estate that meets the emirate’s sector needs, benefits all segments of society, and serves as a new tourist destination to complement Sharjah’s existing attractions.
The “Madinat Tilal” project spans an area of 25 million square feet, sufficient to accommodate more than 65,000 residents, and includes 1,855 plots of land that have been subdivided and prepared for construction; It is located just 10 minutes from Sharjah Airport and is no more than two kilometers from the border of the Emirate of Dubai.
The project features 673 villas and townhouses of various sizes, as well as 1,062 buildings ranging in height from 3 to 5 stories plus a ground floor, along with parks, educational facilities, and community amenities. It offers freehold ownership to citizens of the Gulf Cooperation Council (GCC) countries and Arabs residing in the UAE, while providing long-term usufruct ownership for 100 years to non-Arab residents of the country.
The project offers investors the opportunity to purchase land with fully integrated infrastructure and develop it. The expected return on investment for the project is 12%, and no administrative or maintenance fees are imposed on investors.
In this regard, Khalifa Al-Shibani, General Manager of “Tilal Real Estate,” said: “Thanks to the wide variety of amenities and facilities it offers, the ”Tilal City’ project has established itself as one of the most promising projects in Sharjah’s real estate sector, making it a preferred choice for Gulf investors, who account for the largest share of investments in (Tilal City) and (Tilal Mall), scheduled to officially open in early 2020, and the commercial projects generate lucrative returns.” The mall includes a massive hypermarket, a 65-hectare amusement park, and a five-star hotel.
Al-Shibani explained that the project offers the opportunity to own standalone units, apartments, or residential villas of varying sizes, as well as the option to purchase private buildings, with total costs starting at 4 million dirhams. Meanwhile, the project’s commercial spaces are suitable for establishing business offices and headquarters for small companies, in addition to service and healthcare facilities, schools, and daycare centers.
