Eagle Hills launches new residential project at its $1.2bn waterfront development in Sharjah

The developer's latest launch is a 74-unit building called Nada Residences within the Maryam Gate Residences community

Eagle Hills Sharjah launched Nada Residences, a 74-storey building in luxury waterfront development Maryam Island. Courtesy: Eagle Hills

Eagle Hills Sharjah, a joint venture between Sharjah Investment and Development Authority (Shurooq) and Abu Dhabi-based developer Eagle Hills, on Sunday launched a new residential project at its waterfront development Maryam Island.

Maryam Island is a mixed-use project based in Sharjah’s Al Khan and Al Mamzar districts and is being developed at a cost of $1.2 billion. In addition to residential units, the island will also have four and five-star hotels, waterfront food and beverage outlets, a souq, cafes and retail units.

Maryam Beach Residence, the first phase of the project, will include 688 residential units, 40 retail outlets and beach access. It is set to be completed in December 2020.

Eagle Hills Sharjah's latest launch is a 74-unit building called Nada Residences within the Maryam Gate Residences community, the second phase of the Maryam Island master plan, the developer said in a statement.

The seven-storey building will have units ranging from studio to three-bedroom apartments and will cover approximately 6,187 square metres of gross floor area.

The launch also comes as the "demand for quality properties in Sharjah is rising", Eagle Hills chief executive Low Ping said.

The emirate recorded real estate transactions worth Dh6.2bn in the first half of 2020, up 4.1 per cent over the same period last year, according to data released at the beginning of August by the Sharjah Real Estate Registration Department.

Sharjah, which has historically thrived as an affordable alternative to its neighbour Dubai, is also developing major tourism and leisure projects to tap into pent-up demand for domestic tourism.

In addition to Maryam Island, Shurooq is building a water park in the Khor Fakkan area, a new safari park retreat in the Al Dhaid region, a waterfront lagoon view hotel in its Kalba exclave and an ecotourism resort in Mlehia.