Arada has awarded two contracts totaling AED1.48 billion for the development of Sequoia and Saro, the ultimate two phases of Masaar, an AED9.5 billion woodland megaproject in Sharjah’s Suyoh district.
The corporate introduced that it had awarded a contract price AED650 million to construct 428 properties within the “Sequoia” and one other price AED830 million to construct 597 models in Saro, Masaar’s sixth and ultimate part.
Ahmed Alkhoshaibi, Group CEO of Arada, stated, “We’re thrilled to award these contracts in a well timed method, making certain that the Masaar group is delivered effectively and to an distinctive stage of high quality. For the reason that venture’s launch over three years in the past, our patrons have witnessed important progress within the capital appreciation of their properties.”
Building on Sequoia and Saro will start instantly, with all properties anticipated to be completed by summer season 2026.
These awards deliver the whole variety of properties below building at Masaar to 2,570, with 430 properties within the first part accomplished by the top of 2023.
The second and third phases of Masaar, Kaya, and Robinia, which embody 986 properties, are anticipated to be accomplished within the coming months.