Sunday 19 May 2024
 
»
 
»
Story

Arada awards contracts for 565 homes in mega Sharjah community

SHARJAH, April 16, 2024

Leading UAE developer Arada has awarded two contracts worth AED615 million (  ) for the construction of all 565 homes within its premium community Azalea, the fourth phase of Masaar, the megaproject based in the Suyoh district of Sharjah. 
 
Valued at AED9.5 billion and containing 3,000 villas and townhouses spread over six phases, Masaar is defined by a ‘green spine’ of 70,000 trees, offering a nature-inspired lifestyle to its residents.  
 
Announcing the contract awards, Arada said Saleh Construction will build 324 residences, while Yanal Building Contracting Company will take care of 241 homes.
 
The construction work will begin immediately and all homes will be completed and handed over by the end of 2025, it stated.
 
According to Arada, contracts for the remaining two phases will be awarded in the second quarter, with the entire project scheduled for completion by the end of 2026, it added.
 
These new awards mean that over 1,500 homes in the second, third and fourth phases at Masaar are now under construction, following the completion of 430 homes in the first phase by the end of 2023. 
 
Arada pointed out that the other completed elements of the woodland community include Masaar Discovery Center and a number of family attractions including a children’s adventure playground, water play area, skate park and a Zad food truck park. 
 
Masaar Track, a 6.6-kilometer forested cycleway incorporating bridges and tunnels, is currently welcoming thousands of cyclists every month, while The Loop offers onsite bike rental and repair services alongside a café, it added.
 
On the new project, Group CEO Ahmed Alkhoshaibi said: "The feedback we have received from the first residents who have started moving into Masaar in recent months has been exceptional, underlining our commitment to setting a new standard of living for the UAE."
 
"Since we launched Masaar in 2021, it has become one of the country’s most successful offplan projects, with strong capital appreciation over the last three years creating significant additional value for our buyers," he noted.  
 
Masaar is ideally located in the up-and-coming Suyoh district, and has easy access to Emirates Road and Mleiha Road, and is a few minutes’ drive from both Sharjah and Dubai airports.-TradeArabia News Service



Tags:

More Construction & Real Estate Stories

calendarCalendar of Events

Ads