State-backed sustainability firm Beeah Group has launched a AED 5 bn (c. USD 1.4 bn) mixed-use housing development in Sharjah, marking its first foray into real estate, CEO Khaled Al Huraimel told Bloomberg. The 1.5 sq km project — named Khalid bin Sultan City, after the late Sheikh Khalid bin Sultan Al Qasimi — will be funded through a mix of equity and off-plan sales, the business news information service reports.

We knew this was coming: Beeah flagged its real estate expansion earlier this month, hinting at an imminent flagship venture. The company has been expanding into urban infrastructure with projects including the upcoming Sharjah Creative Quarter and the Jawaher Boston Medical District in Sharjah.

The details: The development will include around 1.5k freehold residential units, commercial spaces, healthcare clinics, sports facilities, and cultural and retail zones, state news agency Wam reports. Much of the housing stock will focus on single-family homes, amid rising demand for high-quality housing among end users. The master plan — designed by Zaha Hadid Architects — places seven residential neighborhoods around central plazas and a two-km green spine.

Timeline + pricing? Sales will begin soon, with pricing still undisclosed but expected to be “competitive […] even for Sharjah,” Al Huraimel said. Buyers are expected to come primarily from the Gulf and the Indian subcontinent.

REMEMBER- Real estate transactions in Sharjah jumped 30% y-o-y in 1Q 2025, as the emirate cements its appeal as a more affordable alternative to Dubai. Homes in Dubai are now 40-50% more expensive on average, with prices there rising nearly 70% over the past four years, including a 25.9% y-o-y spike in 1Q 2025. Sharjah has opened up select zones to foreign ownership and introduced rent caps to keep housing accessible.

The story also got ink in Bloomberg.

Tags: