Latest news with #AQARAT
Arabian Business
7 days ago
- Business
- Arabian Business
Sharjah real estate: Kuwait developer awards $54mn infrastructure contract for Al Tay Hills project
Kuwait Real Estate Company (AQARAT) has partnered with its subsidiary, IFA Hotels and Resorts, to award an AED198 million infrastructure contract to Darwish Engineering for the Al Tay Hills residential project in Sharjah. The contract was executed through Qaryat Al Nakheel Real Estate, which serves as the project's executive arm and operates as a subsidiary of Kuwait Real Estate. Darwish Engineering, a construction firm based in the UAE, will handle the design and execution of infrastructure works, the Emirates News Agency (WAM) said in a statement. Sharjah's Al Tay Hills project The scope includes sewage networks, a wastewater treatment plant, two water pumping stations, and networks for roads, stormwater drainage, electricity, telecommunications and water systems. Khaled Esbaitah, Chairman of IFA Hotels and Resorts, said: 'Our agreement with Darwish Engineering, a company with a strong track record in the construction sector, marks a significant milestone in our vision to develop integrated urban projects that elevate standards of quality and innovation in the real estate market.' 'We are confident that this collaboration will bring a qualitative leap in the development of Al Tay Hills' infrastructure, enhancing its investment appeal and establishing it as a modern urban destination. We see this partnership as a pivotal step towards achieving our vision of building smart and sustainable residential communities,' he added. Bahaa Al-Nahwi, General Manager of Darwish Engineering, described the contract as a milestone that reinforces the company's commitment to delivering integrated engineering solutions that raise the bar for urban development in Sharjah. He confirmed that Darwish Engineering will deploy its technical expertise and resources to deliver the project within the timeline and in line with engineering standards. Al Tay Hills spans over 6 million square feet and comprises 1,100 residential units, including villas and townhouses. The development is positioned on Emirates Road and will feature a green river extending 2.5 kilometres, described as the region's longest. The first phase is scheduled for delivery in the first quarter of 2028. The project has attracted interest from investors and buyers since its launch, positioning it as one of Sharjah's residential destinations. Demand for luxury units combining contemporary design with location highlights its market strength and potential to meet the needs of those seeking to invest in an integrated residential community.
Zawya
03-06-2025
- Business
- Zawya
AQARAT-IFA partnership awards $54mln infrastructure works contract for Al Tay Hills
Kuwait-listed Kuwait Real Estate Company (AQARAT) in partnership with IFA Hotels and Resorts has awarded infrastructure works contract worth 198 million UAE dirhams ($54 million) to UAE-based Darwish Engineering for its AED 3.5 billion ($953 million) 'Al Tay Hills' residential project in the emirate of Sharjah. The contract was signed by Nakheel Village Real Estate Company, the project's executive arm and a subsidiary of Kuwait Real Estate, AQARAT said in a press statement. The scope of work includes the design and construction of basic infrastructure, including sewage networks, a wastewater treatment plant, two water pumping stations, road and stormwater drainage, electricity, telecommunication, and water networks. The three-phase Al Tay Hills project, located in the Al Tay area on the Sharjah-Dubai border, is spread over an area of six million square feet (sq ft) and includes 1,100 villas and townhouses, 3 community malls, and 2.5-kilometre-long green spine, dubbed the Green River, and walking and cycling paths totaling 11km. The first phase of the project is scheduled for delivery in the first quarter of 2028. (Writing by Deva Palanisamy; Editing by Anoop Menon) (
Zawya
13-05-2025
- Business
- Zawya
Kuwait-listed AQARAT awards $54mln contract for Sharjah residential project
Kuwait Real Estate Company (AQARAT) has awarded an infrastructure development contract for its Al Tay Hills residential project in Sharjah. The 198 million UAE dirhams ($53.91 million) contract was awarded to an unnamed UAE contractor, the company said in a statement published on Boursa Kuwait on Tuesday. In January 2024, AQARAT and IFA Hotels and Resorts launched the AED 3.5 billion Al Tay Hills project. Covering an area of six million square feet, the project includes 1,100 villas and townhouses, with the first phase of the project scheduled for delivery in the first quarter of 2028. (Writing by P Deol; Editing by Anoop Menon) ( Subscribe to our Projects' PULSE newsletter that brings you trustworthy news, updates and insights on project activities, developments, and partnerships across sectors in the Middle East and Africa.
Khaleej Times
05-02-2025
- Business
- Khaleej Times
IFA Hotels signs Dh2.1 billion in real estate deals at Al Tay Hills Project
IFA Hotels & Resorts, the developer of the Al Tay Hills project in Sharjah, owned by Kuwait Real Estate Company (AQARAT), has announced that it has secured real estate deals worth Dh2.1 billion within just one week. Al Tay Hills project spans over 6 million square feet of land owned by Kuwait Real Estate and comprises 1,100 villas and townhouses designed to meet a wide range of customer aspirations. Offering units from 3 to 6 bedrooms across three development phases, the project features private pools and modern designs. The first phase is scheduled for delivery in the first quarter of 2028. Khaled Esbaitah, Chairman of IFA Hotels and Resorts, said: 'We are proud to announce the closing of Dh2.1 billion in real estate deals at Al Tay Hills in just one week. This overwhelming demand reflects the rising interest in the project's residential units and confirms Sharjah's growing stature as a preferred investment destination, thanks to its attractive environment and promising opportunities.' Jamal Al Shawish, Head of Sales and Marketing, added: 'These sales results are a clear indicator of the strength of the UAE real estate market and the rapid expansion of Sharjah's property sector. Our impressive performance at the 'Acres' exhibition further underscores the confidence investors have in our project.' Strategically located near the Sharjah Grand Mosque and along Emirates Road, Al Tay Hills stands out with the region's longest green river, which spans 2.5km and serves as both a natural lung and central artery. The project also boasts expansive green spaces, playgrounds for all ages, three mosques, and a variety of restaurants, cafes, and retail outlets. Additionally, residents will enjoy an 11-km network of swimming pools, walking, and cycling paths.
