Project will be built in the heart of Dubai and could cover as much as 1.8 million sqm
A new mixed-use development has been announced by Loulouat Al Sharq for Investment and Real Estate Development and Araa Group Advocates and Legal Consultants. Knooz Al Sharq City will be built at a cost of $1.9bn and was conceptualised by Mohammed Hesham Khair Al Zeen, partner and director at Louloulat Al Sharq.
The developers say the master-planned community will offer promising returns for investors and will combine architectural styles from Mamluk, Umayyad and other prominent Islamic eras. The city will feature traditional houses, shops, museums, restaurants, traditional bathrooms, recreational facilities and venues for social events and performances.
Araa group chairman Abdullah Yousuf Al Nasser said, “Through this giant project we aim to develop a comprehensive and unconventional urban community, in terms of unique components, such as the housing units, and leisure, administrative, educational, medical and commercial services, making it an exceptional model in the real estate market. The community development focuses on creating a multi- purpose scheme featuring housing units, commercial offices, service facilities and attractions. Capitalising on its size and scope, the large-scale project is expected to give a strong boost to the emirate’s economy.”
The city will also include traditional hotels called caravansaries and three mosques; one is named after ‘The Mother of the Nation’, the other after the late Sheikh Rashid bin Saeed Al Maktoum and the third will be called the Sheikha Latifa bint Hamdan Al Nahyan mosque.
The city will also have a tribute museum to commemorate the late Sheikh Zayed bin Sultan Al Nahyan, while another will pay tribute to the late Sheikh Rashid bin Saeed Al Maktoum.
Plans call for the new project to be surrounded by a ‘giant wall’ with seven gates serving as entrances and exits. Gates are named after the late Sheikh Zayed, Sheikh Khalifa bin Zayed, Sheikh Mohammed bin Rashid and Sheikh Mohammed bin Zayed, while others will be named after prominent Islamic cultures.
The developers say the project will strengthen the tourism and travel sector in the UAE and will eventually contribute to the UAE’s GDP.