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Including residents & non-residents Tilal Properties provide free-hold facilities for Arab nationals & renewable 100-year leaseholds for non-Arabs

Including residents & non-residents

Tilal Properties provide free-hold facilities for Arab nationals & renewable 100-year leaseholds for non-Arabs

 

Tilal Properties Showcases Tilal City at Cityscape Abu Dhabi

 

Press Release

Sharjah: 17th April 2018

 

Tilal Properties has announced that all nationalities may purchase land at its flagship development, Tilal City, in Sharjah.

 

H.E. Khalifa Al Shaibani, Director General of Tilal Properties, has stated new ownership laws allow Emiratis, GCC citizens and all Arab nationals to purchase land on a freehold basis at the development, while renewable 100-year leaseholds are available, for the first time, to other nationalities without having to be UAE residents.

 

Al Shaibani noted that the new ownership regulations being applied by Tilal Properties are in line with the policy adopted by the Emirate of Sharjah to stimulate local and foreign investment across different economic sectors, notably the real estate and construction platforms.

 

“The new ownership structures echo the economic transformation witnessed by the emirate at the current period and go in unison with the government’s mid & long-term incentive plans whose aim is to ensure  the social welfare and economic wellbeing of citizens and residents living in Sharjah,” Al Shaibani added.

 

He pointed out that the favourable credit ratings of Sharjah by global rating agencies earlier this year have strengthened the economic status of the emirate and sustained its future outlook.

 

“Global credit rating agency Standard & Poor’s has affirmed the Emirate of Sharjah’s BBB+/A-2 sovereign credit ratings long- and short-term, foreign and local currency, with a stable outlook. The agency also projected a gradual increase in economic growth within the next three years, supported by growth in the emirate’s construction, tourism and manufacturing sectors,” said Al Shaibani.

 

The agency also projects the emirate’s economy to grow 2 percent on an annual basis from 2018 through 2021, noting that the emirate’s economy is supported by a diverse production base, with process industries accounting for 17 percent of its GDP, while realty, wholesale & retail and financial sectors comprise more than 10 percent of GDP.

 

Moody’s Investors Service has, as well, affirmed Sharjah’s long-term A3 issuer rating and stable outlook, thanks to its resilient and diversified economy and the introduction of revenue-raising measures.

 

The rating agency maintained the emirate’s rating also partly thanks to improved performance of key government-related issuers which has lowered the risks posed by contingent liabilities to the government’s balance sheet and the government’s initiatives to stimulate FDI inflows.

 

In the meantime, Tilal Properties has announced it will showcase its flagship AED2.4 billion development, Tilal City, in the 12th annual Cityscape Abu Dhabi Conference, this week from April 17-19 at the Abu Dhabi National Exhibition Centre.

 

Tilal Properties’ senior executives are attending the three- day real-estate exhibition to promote the City’s unique investment opportunities to both global and regional developers, investors, as well as infrastructure and utilities providers.

 

Commenting on the company’s participation in the premier event, Al Shaibani said, “The completion of Tilal City’s infrastructure, as per the schedule we have set out from day 1, marks an important milestone as we continually seek to achieve our clients’ satisfaction through real estate developments that exceed their expectations in terms of distinction and affordable luxury, which enhances the Company’s position in the real estate market across the region.”

 

“The emirate’s first-of-its-kind development offers a unique opportunity to purchase land and build property within Sharjah’s first master planned community development and provides promising opportunities for homeownership and purchasing land,” he added.

Once fully complete, Tilal City’s five zones, comprised of 1,850 land plots sprawling over 25 million-square-feet, will include office, retail and mixed-use buildings. Additionally, a total gross leasing area of 115,982-square-metres will house “TILAL Mall”, a regional shopping center that will serve as the destination’s key retail facility.

 

Tilal City will also boast a wide range of facilities for residents such as education and community centers, as well as public amenities including parks, mosques and schools. Buyers will have an opportunity to buy land plots in all zones including A, B, C and D which is planned to consist of buildings G+3, G+4, G+5 & G+1 villa, where the land plots are ready with complete infrastructure with a flexible payment plan up to 36 months. A total area of the project development’s 13 million-square-feet will be used for property sales and 12 million-square-feet is allocated for public facilities, roads and parks.

 

Due to growing demand, Tilal Properties responded by offering ready buildings (G+4). Construction entered its final phase in Zone B, which is a residential zone that provides an energetic district for residents. In total, there are 382 apartment buildings within Zone B; 56 have retail units on the ground floor and the remaining 326 are apartment buildings without retail.

 

Zone A, which is preparing for construction, is a vibrant area that combines retail with residential apartments and consists of two distinctly different plot types. Zone A’s thirty-three G+3 buildings are currently being developed as a crescent, which overlooks the public park, adjacent to the planned Tilal Mall.

 

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Tilal Properties & Hilton unveil DoubleTree by Hilton Sharjah Tilal Mall

Tilal Properties, the first company to develop properties with freehold and leasehold policies in the UAE’s third largest emirate, and Hilton (NYSE: HLT) unveiled, on Monday, a new upscale hospitality property in Sharjah, UAE, called the “DoubleTree by Hilton Sharjah Tilal Mall”.

The hotel, which marks as DoubleTree by Hilton’s second property in the emirate, was revealed at a management agreement signing ceremony between Hilton and Tilal Properties during the first day of Cityscape Global Dubai 2017.

The high-level signing ceremony was attended by Sheikh Sultan bin Ahmad Al Qasimi, Chairman of Tilal Properties, Khalifa Al Shaibani, Director of Tilal Properties, Carlos Khneisser, Hilton vice-president for development in the Middle East, North Africa and Turkey, and staff members from Tilal Properties and Hilton.

Under the venture, a new DoubleTree by Hilton property will open in Tilal Mall in Sharjah in 2021, with the hotel offering 200 premium guest rooms to visitors in the UAE. The new hotel will adjoin Tilal Mall, set to become Sharjah’s largest shopping complex when it opens before the end of 2020. The mall is part of the wider Tilal City project – a mixed-use community located on the Emirates Road, includes some 2,000 residential plots, offices, retail stores, open parks, educational institutions and community facilities.

Sheikh Sultan bin Ahmed Al Qasimi, Chairman of Tilal Properties, said: “Since it was launched in 2014, Tilal City has received large-scale responses from investors and strategic business partners, making our recent unveil and partnership with a global brand such as Hilton, a testament to our continuity and sustainability of this growth. The DoubeTree by Hilton Tilal Mall, as well as the unveiling of Tilal Mall during Cityscape Global Dubai 2016, all fall within our mission to address the growing demand in Sharjah’s upscale property and tourism sectors.”

He continued: “Tilal Mall and the wider Tilal City project will be a significant new destination for investors, residents and visitors in Sharjah and the UAE. Situated in Juwaiza’a Suburb, one of Sharjah’s most attractive areas and home to numerous high-level property and commercial investments and projects, the emirate’s largest mixed-use community will comprise of plots, for apartments, villas and townhouses, which combined provide housing for more than 60,000 residents once completed. We are excited for the next chapter in Sharjah’s growth and believe Hilton – a prevalent global hospitality brand – is the right partner to help us reaffirm the project’s strength and significance.”

Carlos Khneisser, Hilton vice-president for development in the Middle East, North Africa and Turkey, said: “Initiatives such as Sharjah’s Tourism Vision 2021, which aims to attract more than 10 million tourists by 2021, are drawing ever more visitors to Sharjah.”

He continued: “The emirate’s reputation as a centre for Emirati culture and the city’s importance to the economy of the UAE, make Sharjah a prosperous market to welcome DoubleTree by Hilton.”

DoubleTree by Hilton Sharjah Tilal Mall, which will include an outdoor pool and café, restaurant, lobby lounge and fitness and business centres, will be Hilton’s second DoubleTree by Hilton property in the emirate, joining DoubleTree by Hilton Sharjah Waterfront Hotel & Suites, which is set to open in 2020.

The AED 1.5 billion Tilal Mall will host a range of luxurious retail selections, including exclusive high-end brands, a multi-screen cinema, family entertainment centres, a selection of culinary outlets, a 65-hectare recreational park, a hypermarket, a medical clinic and a pharmacy.

Strategically located on Emirates Road (E611), Tilal City is only two kilometres away from Dubai and a 10-minute drive from Sharjah International Airport. It offers Arab residents in the UAE an opportunity to purchase freehold properties in the emirate and gives usufruct right for foreign expatriates to buy properties on a 100-year leasehold basis.

 

Source Sharjah24 :
https://www.sharjah24.ae/en/sharjah/250615

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Tilal Properties reworks its mall plan :: Assigns Colliers International the task of project review and property management

13 September 2017 01:12 PM

Tilal Properties reworks its mall plan

Assigns Colliers International the task of project review and property management

Dubai -: Tilal Properties has signed an agreement with Colliers International to manage the former’s AED 1 billion project Tilal Mall in Sharjah.

Under the agreement, Colliers International will review the project’s designs and provide leasing and property management services, according to Tilal’s statement.

Tilal, a subsidiary of Sharjah Asset Management, revealed that it has approved several expansions such as increasing the building area by 56% to 400,000 square metres from 256,000 square metres and nearly doubling parking areas to 4,170 spaces from 2,500 in the five-storey building, registering a 67% growth.

The rentable area increased 67% to approximately 116,000 square metres from 69,000 square metres, including the storage area, Tilal added.

In September, Tilal announced launching its two million square-foot mall.

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HE Sheikh Sultan bin Ahmed Al Qasimi inaugurates new Sales Centre at Sharjah’s Tilal City

Opening marks a key milestone for Sharjah’s first mixed use development

UAE –Sharjah/Tilal Properties: May 3, 2015

Tilal Properties, the joint venture between Sharjah Asset Management and Eskan Real Estate Development, inaugurated, on Thursday April 30, the onsite sales centre of its flagship development Tilal City – Sharjah’s exclusive mixed use development – in the presence of His Excellency (HE) Sheikh Sultan bin Ahmed Al Qasimi, Chairman of Tilal Properties.

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