JRA is pleased to announce that they are providing planning and preliminary concept design for Crystal Lagoon Water Theme Park, part of the Dh20-billion Sharjah Waterfront City.
The water theme park will have 40 water and dry rides, including a coaster that combines the action of a water ride with the interactive of a video game, making it the first of its kind in the Middle East. Sharjah Waterfront City promises to be a blockbuster attraction – the largest commercial, residential and tourism development in Sharjah. Not only will the park and surrounding development provide entertainment for Emirati families and visitors, it will also infuse billions into the Sharjah economy.
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Officially launched at Cityscape Global 2015, Sharjah Waterfront City will be spread across 36 km of coastline with a total area of 60 million Sq. ft. providing a fully advanced residential, commercial and tourism development in the region.
Commenting on the project, Hayssam El Masri, president of Sharjah Oasis Real Estate, said, “We have launched Sharjah Waterfront City keeping in line with Sharjah’s development plans to attract 10 million visitors to its emirate by 2021. These robust plans will increase demand for residential and commercial units as well as hotels, especially in prime locations that offer all modern facilities. We can proudly say Sharjah Waterfront City will be able to match the demands and provide the desired quality of living.
“The real estate market in this region has been stable and we are thrilled to have launched Sharjah Waterfront City at the right time in the right location.”
Sheikh Abdullah Shkara, Chaiman of Al Hanoo Real Estate Co. added, “We have invested a lot in this project and we are delighted to see Sharjah Oasis Real Estate Development doing a tremendous job in the construction of Sharjah Waterfront City. We believe this project will be the heartbeat of the city’s tourism 2021 vision.”
The real estate company also announced its partnership with Invest Bank on funding the project. A memorandum of understanding (MoU) between the two parties has been signed to fund the first phase of the project.
“After carefully assessing the project, we realized the potential and the impact it will have on the community in Sharjah. Currently we are funding the first phase of the project which is expected to be completed by 2016, also we are considering the possibility of financing the remaining phases; and to finance the Sharjah waterfront City end users subject to Bank’s terms and conditions, ” said Sami Rashid Farahat, GM of Invest Bank.
