Sharjah Update Sharjah business & Investment News from Invest in Sharjah (Sharjah FDI Office)
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Sharjah-based property company Al Thuriah has announced Sahara Tower 6, the final project in its 3.1 million square foot (288,000 sqm.) Sahara Complex on Sharjah’s Al Nahda Street, near to the border with Dubai. The new tower will complete the residential development, which includes 1,348 apartments, plus a variety of services and facilities.
The last of six residential towers, the new property will have 376 apartments, a swimming pool and gymnasium, a common garden and lounge area as well as retail outlets and restaurants. According to the developer, the foundation of the two-block tower is laid and apartments are on sale, with handover planned for December 2019. One, two, three and four bedroom configurations are available, ranging from 980 sq. ft. (91 sqm.) to 2,780 sq. ft. (258 sqm.) in size. The residential units are available on a freehold basis to GCC nationals and other Arab nationalities with a UAE residence visa.
The new Sahara Tower 6 will be the tallest in the Sahara Complex, with the highest of the two tower blocks (Block A) having 39 floors and the adjacent Block B, 21 floors. Sahara Tower 1 has 20 residential floors and 4 parking levels; Sahara Tower 2 has 27 residential floors and 7 parking levels; Sahara Tower 3 has 20 residential floors and 3 parking levels; Sahara Tower 4 has 26 residential floors, a service floor and 6 parking levels; while Sahara Tower 5 has 15 residential floors and 5 parking levels. Of the two most recent tower projects, Residential units in Sahara Tower 5 have been handed over to investors, whilst Sahara Tower 4 is scheduled for completion in 2017.
The Sahara Complex ranks as one of the top residential developments in Sharjah city and has proved to be highly successful in attracting real estate investors. Located about 20 minutes away from Sharjah International Airport and less than 10 minutes from Dubai International Airport, the complex is also in close proximity to the of 1.8 million sq. ft. (167,000 sqm.) Sahara Centre shopping and entertainment complex (owned by Al Nahda Real Estate).
According to global credit rating agency Standard & Poor’s, Sharjah’s real estate and business services sector accounts for about 22 percent of GDP.
Source: Al Thuriah
