Sharjah Sustainable City said on Tuesday that it is on track to deliver the first phase of the emirate's first fully-sustainable community by 2021.

The 2 billion UAE dirhams mixed-use project is being developed in four phases and includes 1,120 villas and 100 apartments.

The developer said in a press statement that the first stage would include 280 townhouses, an educational institution, a sustainable centre, sports facilities, a shopping mall, medical clinics, and a chemical-free farm.

The infrastructure works for the first phase was completed in February.

The press statement said the developer has launched a flexible payment plan for buyers consisting of 10 percent down payment, monthly installments starting from 4,236 UAE dirhams and zero service charges for the first five years.

Spread over an area of 7.2 million square feet in Al Rahmaniya, Sharjah Sustainable City is a joint venture between Sharjah Investment and Development Authority (Shurooq) and Diamond Developers. The entire project is scheduled for completion by 2023.

(Writing by Syed Ameen Kader; Editing by Anoop Menon)

(anoop.menon@refinitiv.com)

Disclaimer: This article is provided for informational purposes only. The content does not provide tax, legal or investment advice or opinion regarding the suitability, value or profitability of any particular security, portfolio or investment strategy. Read our full disclaimer policy here.

© ZAWYA 2020