Sharjah Waterfront City

Sharjah Waterfront City

Sharjah Oasis completes AED3 billion in infrastructure works at Sharjah Waterfront City

Sharjah Oasis Real Estate is a highly ambitious company with a universal vision, led by a team of passionate professionals who are ready to challenge the status-quo and conventional ways to achieve significant advancements in economic, social and environmental development within the Real Estate economy.

Sharjah Oasis Real estate is a UAE based corporation, with impeccable real estate development credentials. The company has demonstrated a series of success stories, starting with the launch of its iconic Sharjah Waterfront City project.

Sharjah Oasis has announced the completion of Phase 1 construction activities at Sharjah Waterfront City at a value of AED3 billion.

The announcement comes as the organisation hands over two power transmission and distribution plants, built with a cost of AED250 million and with its own resources to ensure uninterrupted supply of up to 700 megawatt (MW) electricity – enough to power the entire urban waterfront community where more than 60,000 people are expected to reside when completed.

Sheikh Abdullah Al Shakrah, Chairman of Sharjah Oasis, formally handed over the power transmission and distribution plants to Dr. Rashid Alleem, Chairman of Sharjah Electricity and Water Authority, SEWA, during a press conference held at the Sharjah Waterfront City head office.

This is one of the first such developments where the private developer has built its own such large power distribution and transmission plant and handed over the assets to the state-owned public utility, SEWA.

“I am pleased to announce the completion of AED3 billion worth of infrastructure works within Sharjah Waterfront City, including removal of 12 million cubic metres of sand to dig 3.5 metres deep canals with width spanning 100-300 metres and create eight islands within the landscape that helped us to create 20 kilometres of new coastline and beachfront properties,” said Sheikh Abdullah.

“As part of the infrastructure projects, we have moved and installed five million tonnes of rocks to create breakwater and marina quays and the protection of water channels, in addition to the construction of bridges, roads and power transmission and distribution plants, which cost AED250 million,” he added.

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Shayne Heffernan Funds Manager at HEFFX holds a Ph.D. in Economics and brings with him over 25 years of trading experience in Asia and hands on experience in Venture Capital, he has been involved in several start ups that have seen market capitalization over $500m and 1 that reach a peak market cap of $15b. He has managed and overseen start ups in Mining, Shipping, Technology and Financial Services.

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