Sharjah's property market is going to see more offplan launches and handovers in 2024. At Masaar, the emirate's 'forested' community, the first residents are moving in. Image Credit: Supplied

Located in the Suyoh district, Masaar, one of the first offplan launches in the UAE after the Covid disruption, will have the first residents move into the ‘forested’ high-end residential destination. In all, 430 homes making up Masaar’s ‘Sendian’ cluster are in handover.

This should also lead to heavier activity in the secondary market sales of Masaar homes, where its multiple releases have had more or less instant sellouts. Currently, four-bedroom units at Masaar are showing asking prices of Dh2.7 million plus for four-bedroom options. There is also a Dh9.25 million tag for a 6-bedroom unit.

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“Sharjah should see a fairly solid secondary market build up start to happen, especially once more homes enter the ‘ready’ status,” said an estate agent. “Property price differences between offplan launches and ready homes are still marginal. This could be the other big attraction for buyers choosing secondary market route.”

A 2026 completion

Set to be fully complete by end 2026, Masaar will have 3,000 villas and townhouses over a 19 million square foot area, set in six gated ‘districts’. They will be linked to a walkable ‘green spine’ containing 50,000 trees.

“We promised Masaar would set a new standard of living for both Sharjah and the UAE, and we are immensely proud to be able to deliver on that". - Prince Khaled bin Alwaleed bin Talal Image Credit: Supplied

Construction of the 986 homes in the second and third phases under way and should be finished before this year-end. (The contracts to build the remaining three phases of Masaar will also be awarded this year.)

“We promised Masaar would set a new standard of living for both Sharjah and the UAE, and we are immensely proud to be able to deliver on that, welcoming the first homeowners,” said Prince Khaled bin Alwaleed bin Talal, Vice-Chairman of Arada.

The Ajwan residences at Sharjah’s Maryam island. Image Credit: Supplied

Apartment options

In the popular Khorfakkan area, sales have started on two apartment buildings forming the ‘Ajwan’ project from Shurooq. Prices start at Dh1.8 million for the two-bedroom units, with completion scheduled for Q4-2026.

Property market sources say that this year should see more apartment projects coming up under offplan schemes. This could include the possibility of units starting from around the Dh1 million mark.

‘Ajwan’ will eventually have six buildings containing 185 apartments and a five-star hotel managed by Marriott Autograph Collection.

Handovers at Maryam Island

Shurooq last month completed the Maryam Gate Residences – with 389 units - on Maryam Island. This will be followed in close order by handover of the Rimal Residences (in Q3-2024) and Jawaher Residences 1 & 2 (Q4-2025). And in Q1-2026, Shurooq will have the sixth and seventh phases with the Mesk Residences and Aysha Residences 1 & 2.

The Maryam Island – with views extending to the Al Khan Lagoon - will have 20 impressive residential buildings comprising over 3,500 units.

Ahmed Al Qaseer, CEO of Shurooq
"Shurooq is turning Sharjah's vision into reality, making the city one of the most livable and sustainable". - Ahmed Obaid Al Qaseer, CEO of Shurooq

Sustainable City

Another Sharjah development that will be seeing a spike in its resident population is the Sustainable City. In its fourth phase, the development, which is a Shurooq joint venture with Diamond Developers, has a ‘limited number of units remaining from the 324 initially available in this phase’.

The project spans 7.2 million square feet at its site in Al Rahmaniya, and comes with the promise of reduced utility bills of up to 50 per cent. The completion of phase 4 is anticipated in Q2 2025.

The fourth phase of sales continues at the emirate’s Sustainable City. Image Credit: Supplied

Plus, there vertical farms producing 90,000 kilogram of chemical-free greens – and as many as 80 EV charging stations.

"Shurooq is turning Sharjah's vision into reality, making the city one of the most livable and sustainable," said Ahmed Obaid Al Qaseer, CEO of Shurooq. "And we aim to redefine waterfront luxury living, aligning the ever-growing market demand for waterfront options with Sharjah's vision for sustainable growth and investor-friendly policies."

Alef Group and its 'Nama 3'
Alef Group remains busy with offplan launches in Sharjah, this time with the 'Nama 3' at Al Mamsha Raseel.

“We seek to continue providing our residents with a thoughtfully curated living experience and serene lifestyle here in Sharjah," the Group said in a statement. Nama 3 will have 139 apartments.