HASAS Real Estate, the property arm of Sharjah Islamic Bank (SIB), has begun work on its key freehold development, Khorfakkan Resort, and is due for completion by the end of 2025.
Billed as a first-of-its-kind freehold development, it will feature luxury apartments with a private beach on the eastern coast of Sharjah and provides views of the coast, mountain and waterfall in Khorfakkan. The project also includes retail, restaurants, recreational facilities distributed and is said to be coordinated with the highest standards of exterior design, to serve all apartments and provide strong visual aesthetics to the surroundings.
Announcing the sales launch next week, General Manager Ahmed Al Amiri said: “The project is aimed at making Khorfakkan city a popular destination for tourism and investment. Its unique architectural design is consistent with the geographical nature of its prominent strategic location between the beach and mountains on the eastern coast, to be a tourist destination that enriches the cultural and urban dimension of the city.
In late March 2022, Shurooq said that work on the $23mn Al Hira Beach Project was on track and, in July 2022, Shurooq revealed plans for a new adventure project in Khorfakkan.
He added, “Khorfakkan Resort offers an exceptional opportunity to own luxury residential units with a private beach on the beautiful coast of Khorfakkan, and to enjoy a package of entertainment features, which boost tourism and investment opportunities in the city of Khorfakkan and add value for investors.”
The project will include a basement floor, a ground floor, and two upper floors for parking lots, along with nine residential floors, he stated, adding all of the luxury apartments will be available at a special sales event on 9 January.
Al Amiri concluded, “Khorfakkan Resort represents a new addition to our investments. By applying our previous successes and expertise in real estate investment, we strive to continue to play an integral role in the real estate boom that the UAE is witnessing.”
In early September 2022, the University of Khorfakkan said it would develop a new residential complex.