East Coast Contracting and Trading has signed a $43m (AED160m) deal to work on Eagle Hills Sharjah’s Kalba Waterfront mall.
Sharjah-based East Coast was awarded the contract by developer, Eagle Hills Sharjah.
The contractor will start enabling and structural works of the master-planned retail development soon.
East Coast will also build the 17,000m² Kalba Waterfront project, which will feature 86 shops, restaurants, a supermarket chain, indoor dining areas, children’s play areas, entertainment amenities including rock climbing walls and trampolines, and a park surrounding a mangrove-lined lagoon.
Kalba Waterfront will have 11,200m² of gross leasing area, and a car park for 300 vehicles. It is schedule to open in Q3 2019.
East Coast's contract with Eagle Hills Sharjah was signed during a ceremony attended by senior officials, including chief executive officer of Sharjah Investment and Development Authority (Shurooq), Marwan bin Jassim Al Sarkal; Eagle Hills Sharjah’s chief executive officer, Low Ping, executive director, Haitham Fekry; and the managing director of East Coast, Ahmed Saeed Al Raqbani.
Commenting on the project, Ping said: "We are delighted to start the work on Kalba Waterfront with the support of East Coast Contracting and Trading, a company that shares our meticulous approach to timely and high-quality project delivery.
“In line with our mission to drive economic growth across the UAE and particularly in the Northern Emirates, we identified a need in Sharjah’s retail market for a modern facility that would provide entertainment, restaurants and fashion all under one roof.”
Shurooq’s Al Sarkal commended East Coast's work, adding that the companies may collaborate soon again: "Our signing with East Coast Group is only the beginning of our strategic venture".
Kalba Waterfront is one of three developments in Sharjah that are under development as part of a joint venture between Shurooq and Eagle Hills Sharjah. The two other projects are Maryam Island and Palace Al Khan. All three developments are worth an estimated $735m (AED2.7bn).
Waterfront development activity is on a high in Sharjah.
The Sharjah Waterfront City mixed-use master-planned waterfront community, worth $6.8bn (AED25bn), is a major project under way in the emirate that developer Sharjah Oasis Real Estate Company hopes will eventually welcome more than 60,000 residents.