Naseej District, Aljada
A glimpse of the future... what the brand new Naseej District at Aljada will look like. Sharjah had quite a successful year in terms of offplan sales, and Arada has been right at the centre of it. Image Credit: Arada

Dubai: Sharjah master-developer Arada has gone in for a new offplan launch, hoping that there are enough buyers out there to make for a strong showing. If it does, Arada will join Abu Dhabi’s Aldar Properties in securing significant offplan purchases in what has been exceptionally difficult market circumstances.

On Wednesday, Arada released the ‘Naseej District’ at its Dh24 billion Aljada development, and will feature 16 apartment buildings. The first of these has gone on sale, with 128 units.

Construction at Naseej will start in the second quarter of 2021, and the first homes delivered in the first quarter of 2023.

Prices for the first apartment block start at Dh299,000 for a studio, Dh532,000 for a one-bedroom and Dh804,000 for a two-bedroom.

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Busy with offplan

So far this year, “We have sold just over 2,200 units in total, including almost 1,900 homes at Aljada and over 300 homes at Nasma Residences (the other community project in Sharjah),” said Ahmed Alkhoshaibi, CEO of Arada.

“Our offplan launches at Aljada this year have included a number of new apartment buildings, the Sarab 2 garden villa community and the Vida Residences Aljada.”

Abu Dhabi and Sharjah have proved the busiest for offplan this year, while in Dubai, buyers are veering towards ready homes. Aldar scored a major success recently, selling out its latest release on Yas Island in a matter of hours.

Handovers are picking up
At the Nasma community, Arada is currently handing over the fourth and fifth phases, which means "we will have delivered just under 1,000 homes by the end of this year," according to the CEO, Ahmed Alkhoshaibi. "Our analysis of the secondary market actually shows that units at Nasma Residences are actually selling at a higher price, which has supported – rather than pressurising – our most recent offplan launch there."
Naseej District, Aljada
The Naseej District is targetted at a younger buyer/resident base. Price of a studio is from Dh299,000. Image Credit: Arada