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Tilal Properties plans $816m Sharjah projects

UAE Business

Leading developer Tilal Properties is studying proposals for two new projects worth Dh3 billion ($816 million) in Sharjah, UAE, said a report citing a senior official.

The first project would comprise housing units, while the second one will be an industrial city, the company director general Khalifa Al Shaibani was quoted as saying in Mubasher.

He was speaking on the sidelines of the Cityscape Abu Dhabi.

The company is continuing with its 25 million-sq-m Tilal City project in Sharjah at an investment of around Dh2.4 billion ($653 million), said Al Shaibani, expecting phases one and two to be delivered by December this year and phases three and four by December 2017, stated the report.

Tilal is not currently considering to go public on equity markets, said the official, adding that it awaits the suitable time to take such a step.

He also revealed that his company is studying investment opportunities locally and overseas, especially in the GCC real estate sector with a focus on Saudi Arabia, it added.

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