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His Highness Sheikh Saud bin Rashid Al Mualla, Supreme Council Member and Ruler of Umm Al Quwain, attends the launch of the project. Also seen is PNC Menon, Chairman of Sobha Group (Supplied)
The government of Umm Al Quwain (UAQ) and Sobha Group, a Dubai-based real estate developer, on Wednesday launched Firdous Sobha, an integrated resort and residential island development in Umm Al Quwain, with total sales value of Dh22.02 billion to Dh25.69 billion ($6 billion to $7 billion).
The equally-split joint venture will develop the Al Seniyah Island, along with Khor Al-Beidah, on a total land area of 53 million square feet, housing villas, hotels and resorts, boutique retail outlets, 18-hole golf course, wellness destination and recreational and entertainment options. Besides there will be ecological zones, canals, lagoons and a marina.
The project has been launched in line with the vision of transforming Umm Al Quwain into an active tourism and commercial destination.
Sheikh Rashid bin Saud bin Rashid Al Mualla, Crown Prince of Umm Al Quwain and Chairman of Executive Board said: “Our strategic partnership with Sobha Group brings an exciting new dimension to our commitment to developing Umm Al Quwain. Both the Umm Al Quwain government and Sobha Group are committed to quality and share a common vision for the island.”
PNC Menon, Founder and Chairman, Sobha Group said: “Our latest project announcement represents our commitment to the UAE. In line with our aim to fully leverage the opportunities present in this highly dynamic market, we have partnered with Umm Al Quwain Government, and are jointly to transform the island into a world class destination.”
Details of the various phases will be disclosed by year-end, with construction starting mid-2017.
“We will be in position to share details of the project before year-end,” Menon told Emirates 24|7.
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