Arada launches The Gate, a new premium community at Sharjah megaproject Aljada
News: 22 August 2021
• Two-building complex featuring 120 smart units goes on sale today
• Owners to benefit from highly desirable location, contemporary design and exceptional facilities
• Property Finder: List prices for Aljada property rose by 4.8% in H1 2021
Arada has launched The Gate, a two-building complex that is situated close to the entrance of the developer’s fast-growing Sharjah megaproject Aljada. Off-plan sales for The Gate’s first building, which contains a variety of one-bedroom, two-bedroom and three-bedroom apartments, have begun today as buyer interest in Sharjah’s real estate market continues to gain traction. In total, 120 apartments will be built across both blocks.
Matching modern design with lush landscaping and exceptional facilities, The Gate is a superb introduction to a contemporary lifestyle. With homes that are perfect for couples or families, The Gate’s location allows residents easy access into and out of Aljada, while new family entertainment district Madar is just a short walk away.
All residences at The Gate include smart home technology as standard, while many homes also feature a ‘winter garden’, a design feature that extends the apartment’s living space onto the balcony, bringing the outdoors indoors. Residents also have easy access to generous green spaces, which include an adventure playground, swimming pool and outdoor gym, as well as jogging and cycling tracks.
Construction on The Gate will begin in the first quarter of 2022, with the first homes being handed over by the end of 2023.
Ahmed Alkhoshaibi, CEO of Arada, said: “Buyers in The Gate will benefit not only from modern design and smart home capability, but also one of the best locations in Aljada. Given the strength of investor interest in Aljada, where we have now sold over 7,000 homes, we anticipate that demand for this very limited number of units to be extremely competitive.”
The release of The Gate marks the latest in a series of off-plan launches at Aljada, the AED24 billion mixed-use community located in the Muwaileh district of New Sharjah. So far, Arada has released 824 new units in nine buildings in Aljada during 2021, of which 90% have been sold.
Government and independent data released recently shows that Sharjah’s real estate market as a whole is witnessing a rebound from a slight slowdown during the worst of the pandemic last year. According to the Sharjah Real Estate Registration Department, the value of property sold in the Emirate rose by 41%.
Arada’s own sales during the first half of 2021 rose by 85% to AED1.15 billion.
Research published by Property Finder in August showed that average apartment sales listing prices for property in Sharjah increased by 2.2% in July compared to January this year. However, growth was much higher at Aljada, where the average listing price rose by 4.8% during the same period.
A further research note from property consultants Savills says that “activity levels have bounced back with strong demand across the Emirate from H2 2020…Investors and end users have benefited from low interest rates, affordable ticket prices, flexible payment plans and better-quality products that has further stimulated demand”.
Spread over a 24 million square foot area, Aljada is Sharjah’s largest ever project and a transformational destination for the Emirate. Aljada contains numerous residential districts, as well as extensive retail, hospitality, entertainment, sporting, educational, healthcare components and a business park, all set within a green urban master plan.
