Sharjah Update Sharjah business & Investment News from Invest in Sharjah (Sharjah FDI Office)
Related Articles
Sharjah Holding has launched a third neighbourhood in its AED 5.5 billion ($1.5b) Al Zahia mixed-use gated community development. The new Al Lilac neighbourhood will be one of seven in Al Zahia and will consist of 120 residential units. About 2,270 homes are expected to be built in the 14 million square foot master-planned development by 2022.
Developed by Majid Al Futtaim and owned by the government company Sharjah Holding, Al Zahia community offers a range of 3, 4 and 5-bedroom townhouses and villas, apartments, commercial spaces and amenities, including six landscaped parks and neighbourhood mosques. Properties in Al Zahia are being offered for sale to UAE citizens, GCC nationals and other UAE residents with valid residence visas.
Al Zahia community is conveniently situated close to Sharjah University City and Sharjah International Airport, with access to road links to Dubai and the Northern Emirates. Majid Al Futtaim is also building a ‘super-regional’ City Centre Al Zahia shopping mall which is planned to open next year and have a wide catchment area due to its strategic location.
The new Al Lilac neighbourhood offers homebuyers three-bedroom townhouses, four-bedroom villas and five-bedroom villas, plus three-bedroom courtyard villas. The neighbourhood includes a themed, 6,000-square-metre sensory park with interactive sculptures and landscaped areas, plus pathways for jogging, walking and cycling.
The first 50 Al Zahia community homeowners took possession of their new properties in Al Jouri neighbourhood Phase I during 2014, while the handover of 200 homes in the second phase of Al Jouri currently underway. The community’s second neighbourhood, Al Narjis, is under construction with 85 percent of residential units already sold off-plan, according to the developer.
A number of master-planned communities are currently under development in Sharjah including Tilal City, a 25 million square foot mixed-use community launched in 2014, and Nasma Residences, a new 5 million square foot master-planned residential community announced by ARADA Properties last month.
Source: Sharjah Holding, various
