Sharjah's Beeah launches multi-billion dirham freehold Khalid bin Sultan City
Sharjah-based waste management firm Beeah Group entered into the real estate market with the launch of Khalid bin Sultan City — a multi-billion billion dirham freehold project located between Dhaid Road and Khorfakkan Road.
'The project starts from our headquarters, moving south around 1.5 kilometres. Designed by Zaha Hadid, it's a mixed-use development, and it's a sustainable project to be net zero and zero waste. It's built to be the city of the future. We're looking at decentralised digital identities for the residents and people that work and live there,' said Khaled Al Huraimel, group CEO of Beeah Group.
'This city will be freehold, so open to all nationalities. The project will have seven neighbourhoods and will be launched in phases. We have not yet announced the date of the launch of sales, but it will be announced very soon. The price will be extremely competitive for investors or end users,' he said.
'It will also be a LEED-certified master plan. We like to call it a climate, smart, sustainable city.'
Beeah Group chief said there is a lot of demand for real estate in Sharjah. 'In the first quarter of this year, sales in Sharjah were up 31 per cent over the previous year. There is a lot of demand in Sharjah for quality developments. Over the last few years, several quality developers have launched different projects in Sharjah because there is much more demand. We had a project launched recently in Sharjah and that was sold out in three hours. So demand is there. And prices are still going up in Sharjah that's because the demand is more than the supply here in Sharjah for quality developments,' he said.
Al Huraimel added that GCC, Arabs and UAE nationals dominate the buyers in the emirate, but Asian communities are also growing very fast.
'We have demand from Asian and Arab communities because Sharjah is ideal for its location and has an international airport that's getting busier and now expanding as well,' he added.
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