To be built around the existing Sahara Centre shopping mall, the project involves the construction of two underground parking areas on the eastern side of the development, together with three levels of retail and five levels of parking, five residential towers, a multi-storey underground and ground level car parks.
On the western side of Al-Nahda Road there will be two underground multi-storey parks, two floors of retail, four floors of parking and four mixed-use towers.
The eastern side of the project is financed by a AED600m ($163m) Ijara facility with a consortium of banks. Emirates Islamic Bank and Dubai Islamic Bank are mandated lead arrangers.
Emirates Bank, HSBC, and Commercial Bank of Dubai as lead arrangers, and Sharjah Islamic Bank and Bank Muscat International as managers.