Business & Money | Thursday 13 April, 2017 4:04 am |

Tilal Properties - the Sharjah-based real estate developer and the first company to develop freehold and leasehold properties in the emirate - will be showcasing its flagship projects at the 11th edition of Cityscape Abu Dhabi, which takes place from April 18-20 at Abu Dhabi National Exhibition Centre.

Held under the patronage of His Highness Sheikh Mohammed bin Zayed Al Nahyan, Abu Dhabi Crown Prince and Deputy Supreme Commander of the UAE Armed Forces, the three-day event in the UAE capital will bring together 100 local, regional and international property companies. 

Tilal Properties is aiming to make best use of the event to build on the successes from its real estate projects currently under development. The company’s recent undertakings have contributed to strengthening Sharjah's stature as a destination for lucrative real estate investment in the UAE and the region, especially after the enactment of the emirate's legislation that allows freehold options for all nationalities.

Taking pride of place at Tilal Properties’ stand at the exhibition are two of its new developments; Tilal City, the largest real estate project in the emirate and one that will house 65,000 residents, and Tilal Mall, which will become Sharjah's largest commercial and retail destination upon its completion by the end of 2020.

Khalifa Al Shaibani, Director General of Tilal Properties, referred to the affordable prices of real estate at the development, where residential properties are sold for an average of AED200 per square foot and commercial properties at an average of AED250 per square foot. Al Shaibani pointed out that the Sharjah Islamic Bank offers a package of real estate finance options that extend up to 10 years.

Split into five zones (A-B-C-D-E), the master-planned community of Tilal City will spread over an area of 25 million square feet once complete. Tilal Properties has already finished the infrastructure works on the first phase of the city, including sewage pipelines, electricity lines, telephone cables and road works in zones A and C, with zone A designated for residential buildings and mix-use properties and zone C comprising residential villas.

Commenting on the rate of sales, Al Shaibani revealed that the demand for buying plots at Tilal City had not ceased since they were first offered on the market two years ago. Tilal Properties has already registered the highest percentage of sales in the emirate, with 95 per cent of land plots already sold within zones A and C and 50 per cent within zones B and D.

Strategically located on Emirates Road (E611), Tilal City is only two kilometres away from Dubai and a 10-minute drive from Sharjah International Airport. It offers Arab residents in the UAE an opportunity to purchase freehold properties in the emirate and gives usufruct right for foreign expatriates to buy properties on a 100-year leasehold basis.