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• Al Rayyanis the first truly mixed-use development in Sharjah
• Leaseholds available to non-GCC expatriates for the first time
• Development covers 2.7m square feet
Sharjah - Sharjah-based luxury property development and management company, JMS Property Development& Management, today announced the official launch of Al Rayyan, a mixed use, multi-purpose development project strategically located in Sharjah's popular Al Nadha district. The AED 700 milliondevelopment, which spans a total of 251,000 sqm / 2,700,000 sqftwill feature a unique combination of residential, commercial and retail units, with leasehold agreements available to non-GCC UAE residents for the first time in the emirate.
Randa Kamal, CEO of JMS Property Development & Management, commented:
"The Al Rayyan development contains many 'firsts' for Sharjah. Mixed-use developments have coupled the residential offering with retail and leisure facilities, or with commercial space, but this is the first to combine all three lifestyle elements of living, leisure, and work. Al Rayyan will provide tenants and owners with an environment that is unsurpassed for quality of life, and that complements modern family living in Sharjah. We are also delighted to be offering leaseholds to non-GCC expatriates."
Comprising of two residential towers, a commercial tower, and a retail complex, Al Rayyanis bringing distinction to Sharjah. Designed by architectural firm B&H, the development contains a total of 504 spacious residential units, with full access to men and women's spa facilities, landscaped leisure areas and 24-hour security. Residential design and fit-out will be contemporary, with a focus on quality.
Describing the interior of the residential units, TonuAltosaarof B&H, stated:
"Apartments will be laid out in a modern International style, with open counter sections connecting the kitchen with the lounge area. Bathrooms will be in a contemporary style, while kitchens will have clean lines and high quality natural stone surfaces. All bedrooms will contain built-in wardrobes, while floor-to-ceiling windows will maximise natural light throughout apartments."
Speaking at the press conference, Steve Morgan, CEO of Cluttons Middle East, commented:
"We're very pleased to be working with JMS Property Development and Management. Al Rayyan will attract buyers seeking a high quality family lifestyle, and those seeking a convenient location. The Al Nadha district is only10km from Dubai airport, and is in easy range of the commercial centres of both Dubai and Sharjah. Meanwhile, the American University of Sharjah and Sharjah University are both nearby, so this will be a popular location for GCC students looking to remain in the UAE to work and live. With freehold property available to locals and leasehold available to all expatriates UAE residents, we expect residential, commercial and retail units at Al Rayyan to be in high demand."
The UAE economy has experienced a strong period of growth since 2012, with GDP rising at a year-on-year rate of 4%. Announcements such as Dubai's Expo 2020 have boosted sectors including tourism and hospitality. This robust and sustainable growth has had an important impact on real estate sector growth. Al Rayyan's proximity to both Sharjah and Dubai makes it an appealing prospect for both real estate investors and homeowners, who are likely to be locals as well as Saudi, Qatari, Indian, Pakistani and British nationals, according to Cluttons' research.
Commercial units will be sold to businesses on a 'shell and core' basis, giving companies the freedom to create their own office space with an outfitter of choice. The top 12 floors of the commercial tower will be hotel serviced apartments catering to the multinational enterprises that would have visiting team members meeting their Sharjah-based colleagues. The mall will include a hypermarket of over 19,000 square metres, as well as 80-90 shops.
JMS Property Development & Management plans to complete the Al Rayyan's residential and retail buildings by the end of the Q12016. The commercial tower will open its doors before the end of Q2 2016.
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About Al Rayyan
Al Rayyan is a one-of-a-kind mixed use development in Sharjah's Al Nadha district, aiming to attract increased real estate investment to the emirate. The project includes a retail mall comprised of 80-90 shops and a 19,000 square metreshypermarket, a commercial tower that will also contain serviced hotel apartments, and two residential towers housing 504 units. The residential buildings will include both men and women's spas, swimming pools and extensive outdoor landscaped areas. Al Rayyan is located 10km from Dubai International Airport, and 20km from Sharjah International Airport.
For more information, visit: www.alrayyansharjah.com
About JMS Property Development& Management
JMS Property Development& Management, established in 1992, is a Sharjah-based leading luxury property development and management company. The company is a solely owned private entity and has a long-standing track record for delivering a range of prestigious and high-quality projects. Previous JMS projects include the Lagoon Tower and Halwan Villas. The Company's assets currently include a total of four rental buildings containing over 180 units.
For more information, visit: www.alrayyansharjah.com
© Press Release 2015
