Abu Dhabi – Mubasher: The UAE-based Manazel Real Estate Company has launched new residential hotel project in Sharjah on Wednesday.

The project consists of five-star hotel Pullman which is scheduled to be managed by AccorHotels, in addition to a residential tower, Terhab Residences, which comprises furnished apartments featuring five-star services, according to Al Khaleej newspaper.

Manazel’s project is located in Al Taawun street near Qasba Canal, the newspaper reported, giving no further details on the value of the project. 

The real estate firm’s unaudited financial results showed a 6.8% growth in net profits, registering AED 220.6 million by the end of 2017, compared to AED 206.5 million a year earlier.

Manazel’s revenues jumped 15.1% to AED 862 million during the full-year 2017 versus AED 749 million the year before.