UAE-based Sobha Group will be awarding the initial infrastructure package for its $4bn lifestyle project, Firdous Sobha, in Umm Al Quwain by June.
An international open tender is currently underway, with “a lot of big players” participating, Francis Alfred, Sobha’s chief executive officer told Construction Week in an interview.
“The project was officially launched over a year ago, with the detail engineering and master planning now complete,” Alfred said. “Ground breaking for the project will also take place in June this year.”
The mixed-use project, a joint venture with the UAQ government, will include around 700 residential units, five hotels, waterways, and a golf course.
Located on an “untouched” island, the development will also include a bridge linking the community to the mainland, as well as a nearly 100-metre wide canal.
“As a 54 million square foot waterfront island development, we are enhancing the ecology of the location,” he said.
Firdous Sobha will be completed as a multiphase project, with the first expected to be delivered by 2020.
Overall, all phases of the project are estimated to complete within a 10-year time frame, the chief executive added.
“Firdous Sobha will have its own advantage when it comes to holiday homes because it is a very elite location, surrounded by natural beauty and waterfront views,” he said.
“Umm Al Quwain is an untapped market and prices will definitely be more competitive as compared to other locations in the UAE.”