Sharjah continues freehold boom - Beeah to launch first residential project

Dubai: Sharjah is all set to see a high-profile freehold residential/mixed-use project next week, with the energy and healthcare company Beeah stepping into the real estate development space.

The company – known for its iconic headquarters building designed by the late Zaha Hadid – is launching its first project ‘right next to our HQ’, according to Khaled Al Huraimel, Group CEO and Vice-Chairman of Beeah. “This is something we had been working towards for the last 10 years – it will be a community and there will be a lot of green and sustainability elements.”

Details of the pricing and what’s being built will all be announced next week. The launch comes as Sharjah experiences a freehold boom of its own, through projects such as Aljada, Masaar, and Sharjah Waterfront City as well as those being created through Shurooq. Real estate deals in the emirate continue to be in surge mode, as per official data.

In May, Sharjah's real estate recorded a total traded value of Dh5.5 billion from 8,415 transactions, with Al-Metraq and Muwailih Commercial areas seeing the highest transactions.

Energy and healthcare

The sustainability part comes with the territory as far as Beeah is concerned. The company initially made its mark for taking on sustainability-themed projects such as waste-to-energy, hydrogen-from-waste and using solar technologies.

Beeah is also building a 266-bed state-of-the-art hospital – the Jawaher Boston Medical - in Sharjah’s Al Suyoh suburb.  

“Real estate is not something new for Beeah – we built the corporate HQ as one of the last that Zaha Hadid designed before she died,” said Al Huraimel. “Our soon-to-happen launch of a residential project is a natural progression because Beeah always had real estate as one of our divisions, alongside energy, healthcare and technology.”