The launch of La Mer reaffirms Al Thuriah Group’s confidence in the emirate’s property market. Georges Khouzami tells more
With the final instalment of the Sahara Complex fast nearing completion, developer Al Thuriah Properties has announced a new project that will rise in Sharjah’s Al Mamzar locality. The beachfront development is set to be formally launched at this week’s Cityscape Global, according to Georges Khouzami, operations and commercial manager of Al Thuriah Group.
Much like the Sahara towers in Al Nahda, La Mer is positioned as an affordable luxury product, although this time the project is set to offer a waterfront lifestyle. “We have been working very keenly to launch La Mer as it embodies a great location, a higher standard of architecture and affordable prices,” Khouzami tells Property Weekly.
Following the completion of Sahara Tower 4 last year, the developer is now working ahead of schedule on Sahara Tower 6, which will have 376 apartments spread across a 21-storey and a 39-storey tower. With the completion of Sahara 6, the 3.1-million-sq-ft Sahara Complex master development will have a total housing stock of 1,348 apartments.
With 376 apartments spread across two buildings, Sahara Tower 6 is expected to be delivered ahead of schedule
According to Khouzami, Sahara 6 is set to be completed much earlier than its projected delivery in December next year. He tells more about the company’s development plans and insights about Sharjah’s property market in an interview with Property Weekly.
What will be your main activities at Cityscape Global?
This year we will be launching our new beachfront tower, La Mer, located in Al Mamzar, Sharjah.
What projects are you most proud of as a real estate company?
Al Thuriah prides itself in servicing the full spectrum of real estate requirements, from development to construction, leasing and facilities management. We consider ourselves a one-stop shop for all property needs. We have been working very keenly to launch La Mer as it embodies a great location, a higher standard in architecture and affordable prices.
Do you have plans to venture outside Sharjah?
We have reviewed many opportunities outside the emirate, but we still have many projects in the pipeline for Sharjah.
What’s the update on Sahara Tower 6?
It is set to be delivered in December 2019, however, we are ahead of schedule and we could deliver earlier than the set deadline.
What is the unique selling point of Sahara Complex as a community?
Sahara Complex is located right at the beginning of Sharjah. It comprises six towers, each one with its own amenities. The apartments are more spacious than what’s in the market, with residences ranging from one- to four-bedroom apartments.
Are these freehold properties?
Yes, as per the rules and regulations of Sharjah.
What is the proportion of investor and end-user buyers? Are there still available units for sale?
It is 50-50. We still have three-bedroom apartments in Sahara Tower 6.
How is this development positioned in the market?
How many people now live there?
Around 1,000 families.
Any further development plans for this community?
Sahara 6 is the last development in Sahara Complex.
We cannot deny the fact that the decreasing prices in Dubai have affected us, however, there are still many people who work in Dubai but prefer to live in Sharjah
– Georges Khouzami
How is the Sharjah property market affected by the increased supply in Dubai and availability of competitively priced residences there?
We cannot deny the fact that the decreasing prices in Dubai have affected us, however, there are still many people who work in Dubai but prefer to live in Sharjah.
Sharjah’s residential market has been historically linked to the rise and fall of Dubai’s property market. Do you think it will remain this way for a long time?
With many developers having projects in Sharjah and the fact that Sharjah is set to have its own “image” linked to culture, family and tourism, we are confident that the market will have its independent demand.
Apart from offering more competitively priced housing options, what do you think are the other advantages of Sharjah’s real estate market?
Sharjah will always be a place for good investment in real estate, a family environment linked to culture and heritage.
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