Bukhatir Investments Ltd (BIL) and the Gibca group of companies have announced the launch of the Al-Barashi Land Development Project, a new residential area in the emirate of Sharjah.
The land has already been leveled and compacted, the construction of the related roads has been completed and the water, electricity and telephone services are all in place, according to a company press release.
Phase One of the project, involving the first 300 land deeds to be offered, is aimed at middle and high-income United Arab Emirates (UAE) and Gulf Cooperation Council (GCC) nationals. The 20 million square foot total land development comprises a total of 1,200 plots.
Al-Barashi is located adjacent to both the Sharjah-Dhaid road and to the new Emirates outer ring road, linking Sharjah and the Northern Emirates to Dubai and Abu Dhabi.
The properties will subsequently be offered to expatriates, who will be able to invest in the land through long registered leases. The size of the plots is, on average, 10,000 square feet and purchasers are free to develop the land as they wish.
BIL Chairman Abdulrahman Bukhatir said: “This development represents a response to the widespread demand for quality residential development at affordable prices. The continued economic growth within the major cities is creating demand for residential areas outside city centres but still within easy access.”
“Realizing the need for quality accommodation, the more affluent sectors of the ever-expanding UAE and GCC national populations are eager to secure residential land for their future generations,” Bukhatir added. — (menareport.com)
© 2002 Mena Report (www.menareport.com)
