Dubai-based developer Sobha Realty announced on Monday that it has signed a partnership agreement with Umm Al Quwain Properties to launch a luxury real estate project on Al Siniya Island, Umm Al Quwain emirate.

Sheikh Rashid bin Saud bin Rashid Al Mualla, Crown Prince of Umm Al Quwain, witnessed the signing of the partnership agreement between Sheikh Mansour bin Ibrahim Al Mualla, Managing Director, of Umm Al Quwain Properties, and PNC Menon, Chairman and Founder of Sobha Group at Al Diwan Al Amiri.

In 2018, Sobha Realty had put on hold its 25 billion United Arab Emirates dirhams ($6.8 billion) Firdaus Sobha joint venture with the UAQ government, two years after the project’s launch, according to a Zawya report. Firdaus Sobha was expected to be financed through off-plan sales and a mixture equity and debt.

The new Al Siniya Island project will include private waterfront neighbourhood with designated zones for non-motorised and motorised water vehicles, a family golf course, floating pavilion, event halls, helix bridge, light and water show, white sand beaches, mangrove and tide trail, fiesta square, community centre, eco park and a play zone.

It will be connected to the mainland by a motorable causeway bridge, according to the press statement.

Details about project costs, units, construction timelines weren't disclosed. 

Sheikh Rashid bin Saud bin Rashid Al Mualla said the collaboration between the UAQ government and Sobha Realty to develop Siniya Island exemplifies the government’s efforts and vision to integrate modern amenities into Umm Al Quwain’s pristine natural environment.

PNC Menon, Chairman and Founder of Sobha Group said Sobha Siniya Island will be transformed into an uber-luxe destination blending modern luxury with the island’s ich biodiversity and historical heritage.

Al Siniya, known as the oldest pearl town in the Arabian Gulf, is home to mudflats, saltmarshes, natural rock edges, along with archaeological sites, including a sixth century monastery and stone circles, according to the statement.

(Editing by Anoop Menon) (anoop.menon@lseg.com)

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