Dubai: Shurooq, the investment arm of the Sharjah government, is seeking to raise Dh1 billion in private investment to help fund the Kalba eco-tourism project that it says is the largest of its kind in the region, a top Shurooq official announced yesterday.

The project will develop a natural reserve, protect heritage sites, revamp the creek and construct a hotel complex in Khor Kalba, 15km south of Fujairah city on the UAE-Oman border. Work on the first phase begins next week.

The three-phase project, collaboratively funded by the Sharjah government and private investors to develop eco-tourism in Kalba city, is expected to be completed in six years, said Marwan Bin Jasem Al Sarkal, chief executive of Shurooq.

The Sharjah government will invest in protecting the natural reserves and in the discovery centre, Al Sarkal said. Shurooq is planning to meet both local and foreign investors to attract funds but is looking for companies that will stick to eco-friendly guidelines in building the hotel complex, he added.

The first phase will begin on May 11 when animals will be released into the natural reserves of Hafiya and Al Qurm that were fenced off last month, Al Serkal said.

It will also include the establishment of a visitor centre within the reserve and the restoration of archeological sites in the area. The visitor centre should be completed by year-end, he added.

Phase two will see the development of Kalba Creek, featuring retail outlets and a food and beverage complex overlooking the creek. It will also include efforts to develop a number of islands in the creek and revive its marine and bird life.

The third phase will see the construction of 300 hotel rooms and chalets overlooking the Gulf of Oman, Al Serkal said.

The natural reserve will stretch for 8km and will encompass the top of the Hajar mountains, down through the forests, to the salt plains with mangrove trees, and down to the shore, said Abdullah Saif Al Yamahi, chairman of the Kalba Municipal Council.

The project will be developed in collaboration with the Sharjah Environment and Protected Areas Authority (EPAA) and the International Conservation Services.

Project to create 5,000 new jobs

Dubai: The Kalba Eco-Project will have a significant impact on Sharjah's economy, creating an estimated 5,000 jobs and a new product offering to differentiate the city of Kalba from others in Sharjah, said Marwan Bin Jasem Al Sarkal, chief executive of Shurooq.

Al Sarkal said Shurooq is expecting a 12 per cent return on its investment. He, however, did not specify a timeline for it. Eco-tourism is an underdeveloped segment in Sharjah, which has a diversity of natural resources, and the project aims to reshape the sector, he said.

Sharjah has worked with Deloitte to create a differentiated product offering for every city in Sharjah, with eco-tourism being Kalba's offering, he said. No local communities will be displaced during the project, he added.

Tim Rundle, director of the International Conservation Services, said the project will rely on natural resources to attract investors to an "authentic product" in Kalba.