Al Zahia celebrates the sale of its 1,000th home

• Summer sales incentive announced on villas and townhouses with savings of up to AED 290,000
• 2-year service charge waiver, 50% off land registration fees and a 5/95 payment plan announced on Uptown Al Zahia apartments 

Sharjah: Sharjah Holding PJSC, a strategic partnership between
Majid Al Futtaim - Properties and Sharjah Asset Management, today announced the sale of its 1,000^th home at Al Zahia, Sharjah‘s premier lifestyle destination, marking a key milestone for the community as it approaches its halfway sales point.  Al Zahia will feature 2,270 homes upon its completion in 2022.

Coinciding with this occasion, Al Zahia is offering, for a limited time, a summer sales promotion on apartments, villas and townhouses. Potential home buyers and investors can save up to
AED 290,000 on villas and townhouses. In addition, a new attractive payment plan that allows buyers to secure their homes with a 5% down payment and the remaining 95% payable on handover by 2021 is now available for apartment in Uptown Al Zahia. Investors will also avail savings on service charges and registration fees.

Commenting on the milestone, Shadi Al Azzeh, Project Head, Al Zahia, Communities at
Majid Al Futtaim - Properties, said: “Sharjah’s property market continues to see an increased demand for integrated community living where people have easy access to a variety of residential, retail, leisure and entertainment offerings that meet their needs. The sale of 1,000 homes in Al Zahia demonstrates a strong appetite for homeownership in the emirates’ premier lifestyle destination, where investors and end users appreciate the long-term value and the highest quality standards our community offer to families, inspiring them to celebrate life to its fullest, every day.”

Walid Al Hashimi, Chief Executive Officer at Sharjah Holding, said: “As we approach the project’s halfway sales point, Al Zahia has established itself as Sharjah’s most sought after mixed-use community. In line with our commitment to supporting the economic growth of the emirate, our key goals will remain focused on completing the project as per the development timeline while continue delivering world-class community offerings to our residents and visitors.”

In May, the community launched its newest residential neighbourhood, Uptown Al Zahia that offers homes ranging from studios to three-bedroom apartments, featuring swimming pools, fitness facilities and underground parking, all designed within walking distance to cafes, restaurants, leisure and entertainment outlets with direct pedestrian access to City Centre Al Zahia.  Planned for opening in 2020 with an investment value of AED 2.6 billion, City Centre Al Zahia is a super regional mall that will serve a trade area of more than 1.9M people, as well as attracting residents of neighbouring Northern Emirates. Offering a diverse mix of over 360 retail brands over four levels City Centre Al Zahia is anchored by a 12,700 sqm Carrefour Hypermarket, complemented by leisure options including VOX Cinemas, with 16 screens incorporating the latest theatre technology, and a 2,350 sqm Magic Planet family entertainment destination.

-Ends- 

Disclaimer: All facts and figures in this release are accurate at the time of issuance.

About Al Zahia 

Al Zahia – owned by Sharjah Holding and managed by Majid Al Futtaim Properties – is a milestone development that will help diversify the real estate sector of the Emirate of Sharjah. As Sharjah’s first integrated, mixed use gated community – rooted in the emirate’s values of family, community and culture – Al Zahia is on par with the high-quality, international building standards for which its developer, Majid Al Futtaim Properties, is known. 

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About Sharjah Holding JSC

Sharjah Holding, a strategic partnership between Majid Al Futtaim Properties and Sharjah Asset Management, is a community focused real estate developer. Sharjah Holding’s current focus is on the development and management of retail and mixed use projects in the Emirate of Sharjah. These include Matajer, a neighbourhood shopping centre concept, and Al Zahia, a major integrated mixed-use community.                                                                                                                          

Note to the Editor: The legal name of this company is “Majid Al Futtaim” and should not be shortened or replaced by an acronym to avoid confusion with another business entity. 

Disclaimer: All facts and figures in this release are accurate at the time of issuance. 

About Majid Al Futtaim

Founded in 1992, Majid Al Futtaim is the leading shopping mall, communities, retail and leisure pioneer across the Middle East, Africa and Asia.A remarkable business success story, Majid Al Futtaim started from one man’s vision to transform the face of shopping, entertainment and leisure to ‘create great moments for everyone, every day’. It has since grown into one of the United Arab Emirates’ most respected and successful businesses

spanning 15 international markets, employing more than 40,000 people, and obtaining the highest credit rating (BBB) among privately-held corporates in the region.

Majid Al Futtaim owns and operates 23 shopping malls, 13 hotels and five mixed-use communities, with further developments underway in the region. The shopping malls portfolio includes Mall of the Emirates, Mall of Egypt, City Centre malls, My City Centre neighbourhood centres, and four community malls which are in joint venture with the Government of Sharjah. The Company is the exclusive franchisee for Carrefour in 38 markets across Middle East, Africa and Asia, and operates a portfolio of more than 230 outlets in 15 countries.

Majid Al Futtaim operates 322 VOX Cinema screens and 34 Magic Planet family entertainment centres across the region, in addition to iconic leisure and entertainment facilities such as Ski Dubai, Orbi Dubai and Ski Egypt, among others.The Company is parent to the consumer finance company 'Najm', a fashion retail business representing international brands such as Abercrombie & Fitch, AllSaints, lululemon athletica, Crate & Barrel and Maisons du Monde. In addition, Majid Al Futtaim operates Enova, a facility and energy management company, through a joint venture operation with Veolia, a global leader in optimised environment resource management. The Company also owns the rights to The LEGO Store and American Girl in the Middle East and operates in the food and beverage industry through a partnership with Gourmet Gulf.

www.majidalfuttaim.com 

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© Press Release 2018