UAE-based developer Alef Group will build Linar, its latest residential waterfront development in Al Mamzar, Sharjah, for 4 billion UAE dirhams ($1.1 billion).

The high-rise development comprises five 50- to 55-storey residential towers, comprising 2,620 units and one commercial tower, which includes retail and service spaces.

Tower A, part of phase 1 of the project, is expected to welcome residents from 2030 onwards, the Emirates News Agency (WAM) reported.

All phase 1 expressions of interest for tower A, B and C are fully reserved, representing 1,572 residential units with a combined value of over AED 2 billion.

The developer is preparing to open expressions of interest for towers D and E, the report said.

(Writing by P Deol; Editing by Anoop Menon)

(anoop.menon@lseg.com)

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