Dubai, UAE: According to a news report in the Gulf News website, the Sharjah Investment and Development Authority – Shurooq, Dubai’s Emaar Properties and Eagle Hills have entered into an alliance to oversee three projects that is valued at AED 2.47 billion. Maryam Island, a mixed-use development to be located between between Al Khan Lagoon and Al Mamzar peninsula, will be the largest among the three with 2.26 billion investment, said the report.

Giving further details, the report revealed that Al Khan Village Resort, a five-star hotel worth AED 120.6 million, and Kalba Waterfront Mall with an investment of AED 106 million, are the two other projects of Omran Properties – the name of the new venture. The resort, part of the re-construction of the Al Khan fishing village, is a hospitality destination that will occupy an area of 66,302 square metres, and is expected to open in the third quarter of 2019, said the report. Meanwhile, the mall will be located at the centre of the development area in the Kalba ecotourism project, with a leasable retail area of 11,204 square metres, and likely to be thrown open in Q3 of 2019.

The report mentioned that Emaar Properties will be acting as the ‘development manager’ for the projects.