Arada awards two contracts valued at AED939 million to build 986 homes at Sharjah’s forest community, Masaar
- Development’s second and third phases now both under construction
- All homes to be completed by June 2024
- Popular megaproject is now a third sold out thanks to increased buyer demand
Sharjah, United Arab Emirates: Monday 19 December 2022 – Arada has awarded two major contracts together totalling AED939 million to build 986 new homes across two residential districts at Masaar, Sharjah’s woodland megaproject. Valued at AED8 billion and containing 4,000 homes spread over seven gated districts, Masaar features a nature-inspired master plan containing more than 50,000 trees.
Valued at AED401 million, the contract to build 421 villas and townhouses in Masaar’s second residential phase, Kaya, was won by Pivot Engineering & General Contracting, an Abu Dhabi-based firm with more than 44 years’ experience in the local market. Construction on Kaya will begin immediately and is scheduled to take 18 months.
Valued at AED538 million, the contract to build 565 villas and townhouses in Robinia, Masaar’s third residential phase, was awarded to Intermass, a well-established Sharjah-based contractor that is already at work on the Masaar jobsite building part of the first residential phase, Sendian. Intermass has also worked with Arada on two of its other projects, Nasma Residences and Aljada. Construction on Robinia will begin immediately and is scheduled to take 17 months.
Ahmed Alkhoshaibi, Group CEO of Arada, said: “These two awards signal our determination to push forward rapidly with construction at Masaar, where we are seeing sales demand accelerate thanks to very favourable customer sentiment about the newly opened central entertainment zone and show villa at the community, which provide an opportunity for buyers to truly appreciate what the Masaar lifestyle is all about.
“Thanks to the recent decision to allow freehold ownership for all nationalities in Sharjah, we are seeing buyer interest at Masaar accelerate significantly. The master development as a whole is now more than a third sold out and we’re bringing forward new phase launches in order to keep up with demand.”
The award means that 1,416 homes are now under construction at Masaar, where the first phase is scheduled to be completed by June 2023.
Sales for Masaar’s fourth phase, Azalea, began earlier in November with an expected delivery of end -2024. Azalea consists of 566 homes ranging from two-bedroom townhouses to six-bedroom villas.
Masaar was officially inaugurated in September by HH Sheikh Sultan bin Mohammed bin Sultan Al Qasimi, Crown Prince and Deputy Ruler of Sharjah. The community is anchored by the Masaar Discovery Center, which now open to the public and surrounded by family attractions and entertainment amenities including a children’s adventure playground and waterplay area, an outdoor amphitheatre and a skate park, alongside the second location of the popular Zad food truck park. Also open to the public is the community’s first completed home, the Masaar show villa, which can be reached via a forested walkway.
This November, Masaar was awarded Master Plan Project of the Year by the Design Middle East Awards 2022, with the judging panel recognising its innovative and nature-inspired design, which promotes mobility and active, healthy living for residents and visitors.
Masaar is ideally located in the up-and-coming Suyoh district, close to Tilal City, the Sharjah Mosque and Arada’s first project, Nasma Residences. The community has easy access to Emirates Road and Mleiha Road, and is 15 minutes’ drive from Sharjah International Airport, and 20 minutes’ drive from Dubai International Airport. The location is ideal for a convenient and traffic-free commute from Sharjah to Dubai or the Northern Emirates.
Based in the UAE, Arada is a developer that has been created to build communities that enrich, engage and inspire their residents. Our homes are exceptionally designed and are complemented with best-in-class amenities, all provided at an accessible price point. Arada was founded in 2017 by HH Sheikh Sultan bin Ahmed Al Qasimi, Chairman of Basma Group, and HRH Prince Khaled bin Alwaleed bin Talal, founding Chairman of KBW Investments, with the intention of delivering superior properties to the UAE real estate segment.
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For more information about Arada: www.arada.com