Alef Group completes 27% of Al Mamsha's Phase I construction work

Ataya: “Alef Group has become a key player in UAE’s real estate market.”

SHARJAH-UAE: Sharjah-based Alef Group - a pioneer in developing premier lifestyle communities, destinations and experiences through investment and strategic joint ventures – has completed 27% of the construction work of its landmark mixed-use development Al Mamsha project’s Phase I.

The existing construction work of the flagship development, which represents Sharjah’s first fully walkable community, cover 15 mixed-use buildings, including 1,193 residential units and 88 shops. The total land area of the construction work during this stage is about 629,000 square feet.

The AED3 billion Al Mamsha project brings together a modern living, retail and leisure in an upscale environment connected with sidewalks and walkways.

Issa Ataya, Managing Director of Alef Group, said: “We are determined to complete our flagship project as per the schedule and in line with the latest technical specs and criteria in order to come up with a real estate product befitting the prestigious position now boasted by Alef Group.”

Ataya added: “The momentum and the ongoing mobility we bear witness to today testifies to our commitment towards all the developments being executed under the umbrella of Alef Group, which has become a key player in the UAE’s real estate market.”

Alef Group also revealed that over 50% of the project’s total units had been sold, i.e., 1,700 housing units for end-users and investors thanks to the easy-payment plans provided by the Group.

Alef Group, the privately held lifestyle experience provider, has recently launched a flexible payment plan for Al Mamsha whereby both end-users and investors may pay a down-payment of 5%, with the remaining amount to be paid over monthly instalments starting from AED2,325.

Ataya attributed the fast sales growth to the unique lifestyle experience provided by Alef Group in Al Mamsha development, which represents a fully integrated community for both end-users and investors alike.

“This is why the current period is the best time to buy, specially for those seeking a safe haven in Sharjah where the real estate landscape abounds in multiple opportunities for investors,” he added.

Offering an extensive range of residential properties and active retail and leisure districts, Al Mamsha project boasts a strategic location at the nexus of Sharjah’s main highways ensuring easy access to major metropolitan areas as well as to Dubai and the Northern Emirates.

Al Mamsha, which spreads over an area of approximately three million square feet, will have a built-up area of 9.3 million square feet and a retail floor area of 500,000 square feet. The project provides multiple housing options, including studios, going up to one-, two- and three- bedrooms apartments.

To its residents, Al Mamsha offers a wide range of amenities and community facilities including dedicated cluster swimming pools, health club and gym facilities, walkways, nurseries, family entertainment centre, a dedicated kids’ zone, retail spine and much more.

The project also features a series of access points leading directly to the basement parking offering its residents on-site underground parking with elevator access to the residential floors, community services and retail offerings making it a car-free and safe community.

© Press Release 2019