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 :
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.
Freehold and 100-year leasehold offering continue to drive sales for the first-of-its-kind project
Unique investment opportunities to be showcased at Cityscape Abu Dhabi 2015
20 April 2015, Sharjah UAE:
Tilal Properties today announced its flagship development, Tilal City – the first-of-its-kind mixed use community in Sharjah – has registered sales of 70 per cent of land plots within two of its key zones.
Expats can now own property in the emirate on long-term leases
There’s good news for property buyers in the UAE: Sharjah is opening up its real estate market to investors of all nationalities.
For the first time, non- Arab expatriates can pur- chase land or property in the emirate on a leasehold basis thanks to a resolution by the Sharjah Executive Council, which states that foreign investors have the right to own property in Sharjah for up to 100 years. Previously, only UAE and GCC nationals were allowed to own prop- erty in the emirate.