Sharjah Sustainable City, the first sustainable real estate project in the northern emirate, received an overwhelming response from both investors and vistors at the recently-held real estate investment expo "Acres 2020."
The city was established in a strategic partnership between the Sharjah Investment and Development Authority (Shurooq) and Diamond Developers, a specialist in developing sustainable environmental projects in the UAE.
A multi-utility residential community built on the foundations of sustainability, it will come up over a 7.2 million sq ft area and includes many residential complexes of three, four and five bedroom villas, in addition to a farm, a community shopping center, a sustainability center and a school.
CEO Yousif Ahmed Al-Mutawa said the big visitor turnout at this year’s expo was mainly due to the special investment offer for the residential units in Sharjah Sustainable City.
Under this attractive scheme, the investors had to pay monthly installments of only less than 1% for a period of 7 years, he added.
Sharjah Sustainable City, which boasts a total residential area of 3.3 million sq ft, will be implemented in four phases (witth each phase about 825,000 sq ft) and is likely to be completed and handed over in 2023.
According to Shurooq, the infrastructure works have already been completed for Phase One, which will be delivered in 2021. It will feature 280 villas and 100 flats for rent, an educational institution, a Sustainability Centre, a commercial complex, in addition to organic farms in this phase.
The City operates 100% of solar energy and recycles 100% of waste water and solid wastes. There will be vegetables farming and leafy plants on site so as to encourage walking and jogging.
Al Mutawa said owing to the demand, the company has extended the expo offer till March 31.-TradeArabia News Service
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