The Sharjah Investment and Development Authority has signed a partnership agreement with Emaar Properties and Eagle Hills to establish a new real estate company in Sharjah called Omran Properties. The aim of the partnership is to boost joint cooperation between the three parties and expand economic investments in the emirate. Through the agreement, Omran Properties will develop and manage the real estate sector in the emirate and beyond, as well as provide management and maintenance services to projects that concern all parties.

The agreement follows the three parties' intention to strengthen inter-cooperation and exchange expertise in the field of property investment and to further develop it in the emirate of Sharjah and the UAE as a whole. Under the agreement, Shurooq acquires 34% of the company's capital, while Emaar and Eagle Hills acquire 33% each. As per the agreement, the headquarters of Omran Properties will be based in Sharjah, with a possibility of further offices being set up in the region.

The company will carry out investment business directly or through any of its subsidiaries or other related companies. The company's activities will involve development and ownership of investments in the real estate sector, providing management and maintenance services, as well as the use and investment of corporate funds in a manner deemed appropriate.