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FINANCIAL NEWS
UAE’s Shurooq to redevelop Al Majaz Waterfront
08 Aug 2011
(MENAFN) Sharjah Investment and Development Authority’s (Shurooq) chief executive, Marwan Bin Jasem Al Sarkal, said that the authority would redevelop Al Majaz Waterfront, a step by which rents might rise by 15 percent, reported Gulf News.
Al Sarkal added that Shorooq would finish redevelopment operations by November, when people would be able to use the projects’ renewed facilities that would include 8 restaurants, a musical fountain, parks and art spaces.
He also said that bearing in mind the social, economic and other neighborhoods in Sharjah, within five to seven years, the USD27 million government-funded project would see a return on investments.
It is worth noting that the 4,700-square-metre development area was designed to attract middle to high income people, who have few leisure options in Sharjah.
More News
08 Apr 2026
BBK awards over BD 1 Million to 273 winners in the February Al Hayrat Grand Prizes draw
01 Mar 2026
BBK activates partial remote working system for its workforce to ensure employee and customer safety and service continuity
24 Feb 2026
BBK discloses its financial results for the year ended 31st December 2025
05 Feb 2026
BBK announces December Al Hayrat Grand Prize winners and another wave of Grand prizes for February
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