UAE-based developer Arada announced on Monday the award of two contracts worth 615 million UAE dirhams ($168 million) to build 565 homes in Azalea, the fourth phase of the AED9.5 billion ($2.6 billion) Masaar megaproject in Sharjah's Suyoh district.

Construction will begin immediately with delivery scheduled by end-2025, Arada said in a statement.

The Azalea contracts have been awarded to Saleh Construction, which will build 324 homes, and Yanal Building Contracting Company, which will build 241 homes.

Masaar features 3,000 villas and townhouses across six phases with a 'green spine' of 70,000 trees.

Currently, 1,500 homes in the second, third and fourth phases are under construction, the statement said, with the first phase comprising 430 homes completed at the end of 2023.

Contracts for the remaining fifth and sixth phases will be awarded in the second quarter, with the entire project scheduled for completion by the end of 2026.

(Writing by SA Kader; Editing by Anoop Menon)


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