Gulf Construction Online - Arada announces sellout at $1.5bn Sharjah forest community

Construction News

Arada announces sellout at $1.5bn Sharjah forest community

27-02-2025

Leading Sharjah developer Arada has announced that it has sold out all four phases at its Masaar 2 project just three hours after the forested master community was launched for sale at 9am today (February 27).

Prospective customers began queuing outside Arada’s sales centres from 2am onwards and by 12pm, all 2,000 homes with a total valuation of AED5.6 billion ($1.5 billion) had been snapped up, making Masaar 2 by far the fastest-selling off-plan project in Sharjah, and one of the fastest-selling projects in the UAE overall.

This project follows in the footsteps of the hugely successful Masaar megaproject in the Suyoh district of Sharjah.

Spanning 10.5 million sq ft and featuring serene woodlands, nature-inspired architecture and world-class amenities, Masaar 2 contains 2,000 contemporary homes, ranging in size from two-bedroom townhouses to five-bedroom villas.

Residents of Masaar 2 will enjoy a variety of premium amenities, including a spectacular swimmable forest lagoon with waterfall, the standout feature of the master plan, said Arada in a statement.

Other amenities include sports and fitness facilities, a scenic woodland jogging track, an adventure trail, a community mosque and an outdoor cinema, all designed within a serene and exclusive landscape that contains 40,000 trees, it added.

According to Arada, the construction work at Masaar 2 will start by the year-end. The first homes are scheduled for completion by the end of 2027, and the full community with all its amenities will be completed by 2028.

"The original Masaar has been one of UAE’s most transformative communities, seamlessly blending a forested landscape with an urban master plan and it is no surprise to see the exceptional level of interest in Masaar 2, which also reflects the impressive strength of the Sharjah market, and the wider interest in UAE as an exceptional investment destination overall," remarked its Executive Vice Chairman Prince Khaled bin Alwaleed bin Talal.

"With Masaar 2, we are again reinforcing Arada’s commitment to delivering high-quality, people-centric communities that enhance residents’ wellbeing," he stated.

Group CEO Ahmed Alkhoshaibi said: "The first iteration of Masaar has been one of the UAE’s most popular off-plan success stories of recent years, with both homeowners and investors alike praising the high quality of the finished homes, the good capital appreciation and impressive return on investment."

"We’ve been receiving daily requests about a second Masaar project since the original version sold out, and the significant pent-up demand in the market has resulted in the record-breaking sales that we have seen today," he stated.

Masaar 2 is located in the Rowdat district of Sharjah, close to Masaar and Arada’s first project, Nasma Residences. The community has easy access to Emirates Road and Khorfakkan Road, and is 15 minutes’ drive from Sharjah International Airport, and 30 minutes’ drive from Dubai International Airport.

According to Arada, the strong buyer demand for Masaar 2 reflects the wider investor interest in the Sharjah property market, with the total value of sales in 2024 rising year on year by 40% to AED40 billion.

Interest is being driven by recent changes to allow all nationalities to buy property on a freehold basis, the delivery of master-planned communities, particularly in the New Sharjah area, and the rise in real estate values in neighbouring markets such as Dubai, it added.-TradeArabia News Service