Launching of the Tilal Al Tai project in Sharjah, worth 3.5 billion dirhams

2025/01/16 5:00:45 PM

3 minutes read

DUBAI, 16 JANUARY / WAM / The Kuwait Real Estate Company, listed on the Kuwait Stock Exchange, in cooperation with IFA Hotels and Resorts, today launched the “Tilal Al Tai” project in the Emirate of Sharjah, at a total cost of 3.5 billion dirhams, extending over an area of more than 6 million square feet and including the construction of 1,100 Villas and townhouses with various designs and spaces that meet different customer needs.

Khaled Isbeita, Chairman of the Board of Directors of IFA Hotels and Resorts, said during a press conference held prior to the official launch of the project at the InterContinental Festival City Hotel, Dubai, that the “Tilal Al Tay” project reflects our vision of combining the values and traditions of Sharjah with a unique modern environment that provides homeowners with a safe and sustainable residential atmosphere. It is in line with the highest international standards while preserving the ancient values and traditions that characterize the emirate.

Esbaitah explained in a statement to the Emirates News Agency, WAM, that the first phase of the project includes the delivery of 370 villas with a value exceeding one billion and 500 million dirhams. The construction work of the project will begin in the summer of 2025 and be delivered in the first quarter of 2028, taking into account all environmental standards during the entire construction stages.

He pointed out that the company’s total investments in the Emirates are estimated at about 20 billion dirhams, as the company has delivered more than 5,000 residential units in the Palm Jumeirah alone, in addition to other projects in different regions of the country since its entry into the country’s markets. We are also currently working on new investment projects in the Palm Jumeirah. It will be delivered during the coming period.

He appreciated the great cooperation that the company received from the Sharjah government in facilitating the procedures for the “Tilal Al Tay” project, which encourages us to think about launching similar projects in the future.

He added that Sharjah is one of the most economically diverse emirates, as it includes a wide range of non-oil sectors. Sustainable projects play a pivotal role in enhancing advanced infrastructure. The efforts of the Sharjah government, through offering pioneering solutions and initiatives, also contribute to attracting and encouraging investments, which makes the emirate a key player. In enhancing the competitiveness of the UAE as a distinguished global investment destination.

For his part, Ibrahim Saleh Al-Dharban, Chairman of the Board of Kuwait Real Estate Company, said that the Al Tay project is one of the largest and most ambitious real estate projects in Kuwait, as it combines modern designs and a strategic location, which makes it an exceptional opportunity for investors and residents alike.

Talal Al-Bahr, Vice Chairman and CEO of Kuwait Real Estate Company, said that the real estate market in the UAE is one of the most attractive sectors at the regional and global levels, and today we are witnessing the emergence of the Emirate of Sharjah as a preferred destination for investors, thanks to its distinctive investment environment, which is characterized by attractiveness, safety, and continuous support for businesses, in addition to its keenness. To enhance and develop the real estate sector.

The “Tilal Al Tai” project is strategically located in the Al Tai area near the Sharjah Grand Mosque, directly on Emirates Road, and on the main intersection that borders the Emirate of Dubai, which provides easy access to the main facilities and landmarks in both the Emirates of Sharjah and Dubai.

The project is distinguished by the presence of the longest green river in the Emirates, which is the natural lung of the project and its central artery. This green river extends over a length of 2.5 kilometers and is characterized by abundant green spaces. It also combines modern architectural designs with nature and reflects the vision of the Emirate of Sharjah in promoting a sustainable green environment that protects nature and biodiversity.