• Due to tremendous demand from customers seeking long-term value, Al Zahia kicks off new phase in uptown neighbourhood.
  • New Woroud 3 building comprises studios, one, two, and three-bedroom apartments available at Sharjah’s premium urban centre.

Sharjah: Sharjah Holding PJSC, a strategic partnership between Majid Al Futtaim Properties and Sharjah Asset Management, has responded to high demand for residences at its Uptown Al Zahia neighbourhood by launching the community’s second phase. Uptown Phase two kicks off with the newly released Woroud 3 residential building. In a first for a Sharjah development, the latest phase also introduces a market leading seven-year payment plan.

Strategically located on University City Road with direct access to Sheikh Mohammed bin Zayed highway, Uptown Al Zahia boasts a vibrant, urban lifestyle with apartments complemented by a High Street and 7,500 square metre retail space. With an exclusive pedestrian bridge offering direct access to the upcoming City Centre Al Zahia, Uptown Al Zahia also places a premium shopping, dining, and entertainment destination on residents’ doorsteps.

Woroud 3 offers buyers a choice of studio, one, two, and three-bedroom apartments, each complemented by first-rate facilities that include gyms, swimming pools, and barbecue areas. Under the new payment plan, buyers pay over seven years, with an initial five per cent down payment, 35 per cent paid over three years, and 60 per cent paid post-handover over four years.

Shadi Al Azzeh, Al Zahia Project Head at Majid Al Futtaim Properties, said: “With the launch of its second phase, Uptown Al Zahia continues to deliver on its promises of growth and long-term value for customers. This new phase introduces more high-quality residences to the emirate’s epicentre of growth, meeting strong demand. By shaping today’s real estate market and creating an aspirational place to call home, Al Zahia reinforces its leading position as Sharjah’s most desired lifestyle destination. 

Walid Al Hashimi, Sharjah Holding’s Chief Executive Officer, added: “The high demand for Uptown Al Zahia is extremely satisfying as it reaffirms the fact that Sharjah’s property market remains strong. As we move closer to Al Zahia’s completion, we are contributing to Sharjah’s evolution as it grows and modernises with our changing times, while still remaining true to the emirate’s core values. The Uptown Al Zahia development alone is expected to contribute AED 790 million to the local economy, bringing further strength and prosperity to Sharjah.”

The entire Al Zahia development is scheduled to be completed by 2023 and will include 2,400 homes in total. To date, 55 per cent of the project has been sold with 800 families already in residence.

-Ends-

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About Al Zahia
Al Zahia – owned by Sharjah Holding and managed by Majid Al Futtaim Properties – is a milestone development that will help diversify the real estate sector of the Emirate of Sharjah. Sharjah’s premier lifestyle destination – rooted in the emirate’s values of family, community and culture – Al Zahia is on par with the high-quality, international building standards for which its developer, Majid Al Futtaim Properties, is known.

About Sharjah Holding PJSC
Sharjah Holding, a strategic partnership between Majid Al Futtaim Properties and Sharjah Asset Management, is a community-focused real estate developer. Sharjah Holding’s current focus is on the development and management of retail and mixed-use projects in the Emirate of Sharjah. These include Matajer, a neighbourhood shopping centre concept, and Al Zahia, Sharjah’s premier lifestyle destination.

About Majid Al Futtaim
Founded in 1992, Majid Al Futtaim is the leading shopping mall, communities, retail and leisure pioneer across the Middle East, Africa and Asia.

A remarkable business success story, Majid Al Futtaim started from one man’s vision to transform the face of shopping, entertainment and leisure to ‘create great moments for everyone, every day’. It has since grown into one of the United Arab Emirates’ most respected and successful businesses spanning 16 international markets, employing more than 44,000 people, and obtaining the highest credit rating (BBB) among privately-held corporates in the region.

Majid Al Futtaim owns and operates 27 shopping malls, 13 hotels and four mixed-use communities, with further developments underway in the region. The shopping malls portfolio includes Mall of the Emirates, Mall of Egypt, City Centre malls, My City Centre neighbourhood centres, and four community malls which are in joint venture with the Government of Sharjah. The Company is the exclusive franchisee for Carrefour in a number of markets across the Middle East, Africa and Asia, operating a portfolio of more than 300 outlets.

Majid Al Futtaim operates more than 500 VOX Cinemas screens and 37 Magic Planet family entertainment centres across the region, in addition to iconic leisure and entertainment facilities such as Ski Dubai, iFly Dubai and Ski Egypt, among others. The Company is parent to the consumer finance company 'Najm', and a Fashion and Home retail business representing international brands such as Abercrombie & Fitch, AllSaints, lululemon athletica, Crate & Barrel and Maisons du Monde. In addition, Majid Al Futtaim operates Enova, a facility and energy management company, through a joint venture operation with Veolia, a global leader in optimised environment resource management. The Company also owns the rights to The LEGO Store and American Girl in the Middle East.

www.majidalfuttaim.com 

© Press Release 2020

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