Sharjah to see up to 4,000 new homes go on sale at Masaar 'forest' community

Prices of freehold units start from Dh1.6m and adds to 'Sharjah property boom'

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Manoj Nair, Business Editor
2 MIN READ
The Masaar 'forest' community in Sharjah will see another 4,000 upscale homes being launched for sale. Already, Masaar has seen handovers of up to 1,500 homes.
The Masaar 'forest' community in Sharjah will see another 4,000 upscale homes being launched for sale. Already, Masaar has seen handovers of up to 1,500 homes.
WAM

Dubai: Sharjah’s property market will soon see up to 4,000 new homes being available for sale at the ‘forest’ residential community ‘Masaar’.

If so, this sales launch could be one of the biggest seen to date in Sharjah, according to broker sources, with prices likely to start from Dh1.6 million/Dh1.7 million.

“Sharjah developers are no longer launching in the hundreds of units at a time,” said one of the brokers who have been briefed about the launch. “They are going for thousands of homes being put up for sale in one go – there are buyers who will snap up the whole lot instantly.”

If so, the new Masaar launch as well as those at ‘Khalid Bin Sultan City’ from Beaah are set to take centre-stage in Sharjah’s freehold boom times. Both developments are located in the emirate’s Rodhat Al Sidir area.  

No official confirmation has been received about such plans from Arada, the developer. Masaar has been in the last 4 years one of the most high-profile freehold developments in the UAE.

"The best part for Sharjah property investors is that launch prices have remained more or less constant compared to other emirates," said the broker. "Investors are getting sizable number of options in the Dh1 million to Dh3 million range, and that's attracting the first-time property buyers."

UAE's first 'forest' community

There was the extensive ‘green-scaping’ of the project, with Arada pitching it as ‘living in a forest’. (This theme has since been co-opted in other recent launches, including in Dubai.)     

It was one of the first to be launched after the Covid phase, in early 2021. Since then, Arada has launched Masaar 1 and Masaar 2, together creating about 5,000 residential units. (Most of these are already sold, and around 1,500 homes have been handed over to date. Rental listings show 4-bedroom villas upwards of Dh200,000.)

It was earlier this year that Masaar 2 was released with 2,000 homes – and got sold out within a day for a combined Dh5.6 billion.  

The new Masaar 3 could generate around Dh12 billion in sales, based on some estimates.

Manoj Nair
Manoj NairBusiness Editor
Manoj Nair, the Gulf News Business Editor, is an expert on property and gold in the UAE and wider region, and these days he is also keeping an eye on stocks as well. Manoj cares a lot for luxury brands and what make them tick, as well as keep close watch on whatever changes the retail industry goes through, whether on the grand scale or incremental. He’s been with Gulf News for 30 years, having started as a Business Reporter. When not into financial journalism, Manoj prefers to see as much of 1950s-1980s Bollywood movies. He reckons the combo is as exciting as it gets, though many will vehemently disagree.
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