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Sharjah is one of the emirates that has greatly benefitted from the continuing “flight to affordability” trend, but recent news reports reveal that residential rents in the area have also increased due to limited stock. However, some developers are bent on meeting the demand surge and are looking at developing mixed-use communities that will compete with those in Abu Dhabi and Dubai.
One such community is Al Zahia, considered the first gated community in the emirate that covers an area of 1,500,000 square meters. The mixed-use project will provide home buyers and tenants a plethora of housing options. This includes mid-rise apartments, villas in modern and traditional styles with a private garden to boot, and townhouses. Also included in the master plan is a wide variety of office space for commercial tenants.
The project, whose components are expected to be finished in eight to ten years, is designed to be a self-contained community complete with all modern amenities and facilities. It will feature mosques, swimming pools, health clubs, schools, food and beverage outlets, a shopping mall, retail shops and health facilities. Also to be incorporated into its layout are walking/jogging tracks and pockets of green spaces.
The development is envisioned to gather families together in one community that gives off a modern vibe but reflects the emirate’s culture and traditions.
Enjoying a strategic location near Sheikh Mohammed bin Zayed Road, commuting to other emirates will be a breeze for Al Zahia residents as it provides easy access to the major arterial links to Dubai and the northern emirates. It is also within short distance to Sharjah University, Sharjah International Airport and the airport free zone.
Prices for villas and townhouses start from around Dh1.9 million to Dh4 million. The residences are open for sale to GCC nationals or Arabs holding a valid UAE residence visa, while non-Arabs are qualified to lease units for the long term.
Phase 1 of the project was already handed over, while Phase 2 is set to be completed in 2015. With the Al Zahia project paving the way for other developers to invest in Sharjah, expect more similar projects to come in the next few years.
* The Al Zahia community consists of apartments, villas, townhouses, offices
* Included in its layout are parks, retail shops, mosques, schools, eateries, etc.
* Sales rates for the different townhouse/villa units range from Dh1.9M to Dh4M
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Source: Ellen Joyce Soriano, Special to Properties