By Ramy Sameeh
Abu Dhabi – Mubasher: UAE’s developer Tilal Properties is studying two new projects worth AED 3 billion in the emirate of Sharjah, according to Director General Khalifa Al-Shaibani.
Speaking during Cityscape Abu Dhabi that kicked off today, the official told Mubasher that the first project would comprise housing units, while the second one will be an industrial city.
The company is continuing with its Tilal City project in Sharjah, over an area of 25 million sqm, with investments of around AED 2.4 billion, said Al-Shaibani, expecting phases one and two to be delivered by December, 2016 and phases three and four by December, 2017.
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.
All of the company’s projects are proceeding normally despite the decline in oil prices, noted Al-Shaibani.
Translated by Sayed Abdel Rahman
