Leading developer Tilal Properties is studying proposals for two new projects worth Dh3 billion ($816 million) in Sharjah, UAE, said a report citing a senior official.

A new joint venture between Sharjah Asset Management and Eskan Real Estate Development, the company aims to offer affordable housing to 65,000 residents.

The first project will comprise housing units, while the second one will be an industrial city, the company's director general Khalifa Al Shaibani was quoted as saying in Mubasher.

He was speaking on the sidelines of Cityscape Abu Dhabi, a premier real estate showcase in the UAE capital.

The company is continuing with its 25-million-sq-m Tilal City project in Sharjah at an investment of around Dh2.4 billion ($653 million), said Al Shaibani, expecting the first two phases to be delivered by December this year and phases Three and Four by December 2017, stated the report.

The first-of-its-kind Tilal City mixed-use development includes 1,855 land plots, offering GCC nationals and UAE residents for the first time an opportunity to buy or lease land and develop properties in Sharjah.

Tilal is not currently considering to go public on equity markets, said the official, adding that it awaits the suitable time to take such a step.

He also revealed that his company is studying investment opportunities locally and overseas, especially in the GCC real estate sector with a focus on Saudi Arabia, it added.