Arada to showcase Sharjah’s top real estate offerings at Cityscape Global
News: 6 November 2021
• Developer to launch several residential communities within Aljada and will exhibit the recently launched Kaya district at forested megaproject Masaar
Arada, the UAE’s fastest-growing developer, will be showcasing Sharjah’s key real estate offerings at Cityscape Global, which is taking place from 9-11 November at Dubai Exhibition Centre at Expo 2020 Dubai.
Arada’s stand will exhibit the extensive range of properties in its two mega developments, Masaar and Aljada. Featuring several exciting new communities within Aljada, the AED24 billion mixed-use community in New Sharjah, the stand will also showcase the recently launched Kaya, the second residential phase of Arada’s forested lifestyle mega community Masaar.
So far, Arada has sold nearly 1,600 units at Aljada during the course of 2021, with a total value of almost AED900 million. Masaar on the other hand has witnessed exceptional demand for its first phase, while the second phase of this nature-inspired community, Kaya, was launched in October. Total sales so far this year at Masaar amount to almost AED1 billion.
Ahmed Alkhoshaibi, CEO of Arada, said: “We are looking forward to attending Cityscape once again to showcase a new collection of prime properties at Masaar and Aljada, which both have demonstrated incredible investor interest and have also benefited from the stability of the real estate market that Sharjah enjoys.
“Our continuing strong performance is also being driven by the success of our community-centric facilities, the high quality of our homes and our flexible ownership plans, all of which have combined to secure Arada’s position as the driving force in Sharjah’s real estate sector and becoming the fastest growing developer in the UAE.”
The total value of Arada’s sales during the first half of 2021 rose by 85% to AED1.15 billion and the developer is on track to achieve its target of AED2.3 billion this year. The company has also completed over 1,200 homes so far this year and currently working on 5,000 units across Aljada.
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% in the first six months of the year, compared to the same period last year.
Research published by Property Finder earlier this year 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.
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. On completion, Aljada will contain 20,000 units, and will be home to a population of 70,000 people.
Designed to encourage active and healthy living in harmony in nature, Masaar was launched in January this year, and offers 4,000 beautifully designed villas in eight gated residential districts, all clustered around a ‘green spine’ containing a host of outdoor and sporting facilities and boasting 50,000 trees.
