Sharjah: Arada has awarded two contracts totalling Dh939 million to build 986 new homes across two residential districts at Masaar, Sharjah’s woodland megaproject, it said on Monday.
Valued at Dh8 billion with 4,000 homes spread over seven gated districts, Masaar features a nature-inspired master plan containing more than 50,000 trees.
Valued at Dh401 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. Construction on Kaya will begin immediately and is scheduled to take 18 months.
Valued at Dh538 million, the contract to build 565 villas and townhouses in Robinia, Masaar’s third residential phase, was awarded to Intermass, a 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.