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Al Zahia, Sharjah’s first gated mixeduse community development, expects to contribute up to Dh5 billion to the emirate’s economy, developers of the project have said. Al Zahia will comprise three-, four- and five-bedroom villas and town houses, studios and one- and two-bedroom apartments, and boutique villas for commercial use.
The project’s developers are also awaiting approval by the Sharjah Government to offer the residences as leasehold to non-GCC residents. The property is only available as freehold to UAE citizens and Arab nationals.
Bader Hareb, Chief Property Officer at Majid Al Futtaim Properties - Communities, which is jointly developing the project with the Sharjah Government under Sharjah Holding, said Al Zahia will create large-scale employment opportunities during its ten-year construction time frame.
Located at the corner of Shaikh Mohammad Bin Zayed Road and University City Road, and close to Sharjah University City and Sharjah International Airport, the 1.3-million-sq-m development will be home to more than 12,000 residents.
Hareb said they have completed 51 villas and town houses in the first phase of construction. Forty nine homeowners have already taken possession, while two homes serve as show houses. More are now being released, while construction of 277 units in the second phase has started and will be completed by the second quarter next year.
Waleed Al Hashimi, CEO of Sharjah Holding, said, “By transforming the mixed use real estate sector in Sharjah, Al Zahia gives momentum to the government’s vison to diversify Sharjah’s real estate sector - improving the emirate’s positioning as a preferred investment destination, as well as an ideal place for community living.”
The third phase of Al Zahia comprises 92 villas and 132 town houses. The villas offer a choice of traditional or modern style, with a variety of layouts and sizes. The units will have high-quality finishes, gardens and generous plot sizes. “The significant trend in consumer demand for living communities clearly indicates a bright future for mixed-use integrated communities that are designed to attract families looking for modern luxury, and a convenient way of living,” said Hareb.
Value for money
According to Hareb, people in gated communities take better care of their homes. “This transforms into an added value for the property over the longer term, tying in perfectly with Majid Al Futtaim Properties’ focus on creating sustainable living environments designed for life-long value,” he said.
Units in the first phase were sold from Dh1.9 million, while residences in phase two are priced between just under Dh2 million and Dh3.7 million, said Lee Tabler, Executive Director of Development at the Communities Business Unit of Majid Al Futtaim Properties.
He also revealed that the initial batch of residents are paying subsidised service charges of Dh3-Dh4 per square foot. Some homeowners have also leased out their homes for about Dh140,000 per year for town houses and Dh190,000 per year for villas.
Source: Jobannie Tabada, Special to PW