UAE-based property developer Arada announced on Tuesday that it has awarded two major contracts worth 454 million UAE dirhams ($124 million) to build nine apartment blocks in Aljada, the 24 million square foot mixed-use megaproject located in the Muwaileh area of Sharjah emirate.
Both contracts were awarded to Dubai-based Airolink Building Contracting, Arada said in a press statement.
They include a 377-million-dirham ($103 million) award to build five Sokoon apartment buildings and two apartment blocks located next to Aljada’s museum, and a 77-million dirham contract for the 120-unit The Gate, which consists of two apartment buildings located at the entrance of Aljada.
Work on the 482-unit Sokoon buildings and the 138-unit museum-facing buildings, which are yet to be launched for sale, will be completed in 20 months, while The Gate will take 16 months to be completed, the statement said.
Arada said it has to date, completed almost 1,500 homes at Aljada, including all 14 apartment blocks and a garden villa community in the first residential phase of the community, as well as both phases of SABIS International School-Aljada (SIS-Aljada). Before the end of the year, the East Village complex of 16 apartment blocks, the Nest student housing community consisting of 12 apartment blocks and the second Sarab villa community are also scheduled to be completed.
Arada is aiming to complete 5,000 homes during 2022, the statement said.
(Writing by SA Kader; Editing by Anoop Menon)