Sharjah developer Arada awards contracts for $2.1lbn mega housing project

US engineering firm to oversee construction of infrastructure, utilities

  
Image used for illustrative purpose. Photo Taken In United Arab Emirates, Sharjah.

Image used for illustrative purpose. Photo Taken In United Arab Emirates, Sharjah.

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Sharjah developer Arada has granted the first two contracts for its mega property development, the $2.1 billion (8 billion dirhams) Masaar in Sharjah. 

In a statement on Sunday, the real estate firm said it has picked US engineering consultancy Parsons Overseas Limited to oversee all aspects of infrastructure delivery for the project, including the building of roads, water, power and drainage systems. 

It has also awarded the contract to build one of the features of the project, the Masaar Experience Centre, to ASGC Construction. The contract includes building Masaar’s first property on-site, a five-bedroom show villa in the project’s Sendian district, to be completed by the end of the year. 

The developer did not disclose the value of the contracts. 

Arada launched the new forested community project last January. It will feature 4,000 villas and townhouses in eight gated communities. The first homes are scheduled for completion in the first quarter of 2023. 

Sales for the 445 residential properties in the project ‘s first district, Sendian, kicked off in January. Another batch of units will be on sale by the end of this year. 

(Writing by Cleofe Maceda; editing by Seban Scaria) 

Cleofe.maceda@refinitiv.com 

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© ZAWYA 2021


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