UAE-based developer Arada has awarded the first two contracts for Masaar, its $2.2 billion (AED8bn) upscale mega community development in Sharjah’s Suyoh district, following its launch in January this year.
The 19 million-square-foot project features 4,000 villa and townhouses set in eight gated communities amid a nature-filled master plan.
“This is a landmark moment in our journey at Masaar, a project that has been designed to set a new standard of living, not just for Sharjah but for residential communities throughout the region,” said HE Sheikh Sultan bin Ahmed Al Qasimi, Chairman of Arada.
“We have witnessed strong demand for properties within the first phase of Masaar, in line with the robust performance of Sharjah’s real estate sector during the first five months of this year,” he added.
The contract for infrastructure design and supervision consultancy services at Masaar was awarded to Parsons Overseas Limited. The US engineering consultancy will oversee all aspects of infrastructure delivery for the project, including roads, water, power and drainage, ensuring full integration with the overall master plan.
Meanwhile, the contract to build the Masaar Experience Centre, a space that will provide visitors and future residents with a glimpse of what life in the community will be like when it is complete, and a five-bedroom show villa has been awarded to construction company ASGC Construction LLC. Construction will begin immediately and is scheduled to be completed in six months.
Sales for the 445 homes in the first district of Masaar, Sendian, began in January, and Arada remains on schedule to launch the second phase of sales by the end of this year. Ranging in size from two-bedroom townhouses to five-bedroom Sendian Park Villas, the first homes in Sendian are scheduled to be completed in the first quarter of 2023.
The launch of Masaar brings the total value of Arada’s project portfolio to over AED33bn ($9bn). Since its foundation in 2017, the developer has delivered more than 1,000 homes and is on track to hand over a further 3,500 units during 2021.
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