Al Hanoo plans massive islands project in Sharjah
[29/08/2005]

Al Hanoo Holding Company, a major real estate development company in the Middle East, will launch its massive Nujoom Islands of Sharjah project next month. The residential and commercial city will cover 60 million sq ft.

Sharjah has been identified by the company as a market with great potential for real estate project development, said company chairman Sheikh Abdullah Al Shakra.

"This is why we have focused our business in the Emirate by launching two major real estate and infrastructure development projects, namely Nujoom Islands and Emirates Industrial City," he said.
Sheikh Abdullah added that the masterplan for Nujoom Islands has been approved by the Government of Sharjah.

The infrastructure and architectural designs of the project have also been completed, he said.

"Nujoom Islands offers many advantages of which the most important is the low investment cost compared to the nature and size of the project, its components, and strategic location, which is expected to yield higher profits for investors," he said.

Al Hanoo will announce the details of the project in mid-September 2005 and the project will be showcased at the upcoming Cityscape 2005, a premier international property investment and development event being held from September 17-19 at Dubai International Exhibition Centre.

Al Hanoo Holding Company, founded in 1975 in Saudi Arabia, has a fully paid up capital of SR200 million. It has diverse interests in real estate investment and development, construction and trade with a focus on large-scale infrastructure and property development projects in Saudi Arabia, UAE and other GCC countries, said a spokesman.

TradeArabia News Service