Tilal City Comprised of 600 Villas and 400 Mixed-use buildings
Developer takes centre stage at leading regional real estate event as sales of Zones B and D continue and Tilal Mall stays on track for 2020 opening
The 25 million square feet Tilal City, the flagship project of Tilal Properties, a leading Sharjah-based real estate developer and the first to offer freehold as well as leasehold properties in the emirate, has drawn mass interest to its stand at the 4th Middle East Investment Real Estate Exhibition and Conference (ACRES Middle East 2017), taking place at Expo Centre Sharjah.
The first-of-its-kind and largest mixed-use community development in Sharjah, Tilal City is designed to accommodate 65,000 residents. With 48% of its area allocated for service facilities, the master-planned development includes 1,855 land plots. Strategically located on the Emirates Road (E611) in Sharjah, the AED 2.4 billion project is just a ten minute drive from Sharjah International Airport, and only 2 km from Dubai.
Following the inauguration of the exhibition, Sheikh Fahim bin Sultan Al Qasimi, Chairman of the Sharjah Department of Government Relations, toured the exhibition and visited the Tilal Properties stand, where he was briefed by Khalifa Al Shaibani, Director General of Tilal Properties.
Commenting on the participation of Tilal Properties in the exhibition, Al Shaibani said: "Tilal Properties is entering a new phase in its history, having fulfilled all obligations to investors following the delivery of Tilal City's Zones A and C, with infrastructure and facilities in December 2016. The second phase of the project, involving the construction of Zones B and D, will be handed over to prospective buyers in December 2017." He lauded the efforts of Al Marwan Contracting Company in the construction of Tilal City's infrastructure.
On the rates of sales, Al Shaibani revealed that Tilal Properties enjoys the highest sales volumes in the emirate. It has already registered sales of 90% for land plots within the city's zones A and C and 50% within zones B and D, adding that the demand for buying plots had not stopped since they were offered for sale two years ago.
“Tilal City is designed to house 600 villas of various sizes and 400 buildings with heights ranging 3, 4 and 5 floors, plus the ground floor,” Al Shaibani added.
He noted that the real estate market in Sharjah and the UAE is more mature than ever, having previously been sentiment-driven, with many investors making rash judgements. This has changed greatly, with investors becoming more rational in making decisions in the property sector.
Al Shaibani said the affordable prices of properties at Tilal City are one of the main attractions for investors. Residential properties are sold for an average of AED 100 per square foot, and an average of AED 200 per square foot in commercial properties – a highly attractive proposition for people with varying incomes. This provides an important competitive advantage, thanks to Sharjah Government's vision, the strategic partner of Tilal Properties, which considers investors as partners rather than clients, and seeks to give them exclusive privileges not available in other real estate investments.
Speaking about the developments on Tilal Mall, Al Shaibani pointed out that the company contracted JLL Global, a leading international provider of real estate consultancy services to supervise the engineering and executive consultancy of the project. It is the largest mall and upscale commercial and retail development in Sharjah, scheduled for official opening before the end of 2020, with total investments of AED 1.2 billion.
Tilal Mall will include exclusive high-end brands, a multi-screen cinema, family entertainment centres, a selection of world-class culinary outlets, a 65-hectare recreational park and a huge hypermarket that caters to the needs of Tilal City's residents, in addition to a clinic and pharmacy.
The company is showcasing the latest developments and updates on its existing projects, during the three-day property show, which began on 21 March, 2017.
Caption : Tilal City