Arada launches penultimate phase of Masaar residential community project
Sequoia’s 338 homes are expected to be completed by the end of 2025, the developer said
The sixth and penultimate phase of Arada’s woodland residential community project, Masaar, has been launched. The release of a further 338 homes within Sequoia comes a week after the launch of Sarai, the fifth phase dedicated to mansions at the community.
Sequoia is located on the north side of the Masaar masterplan which is located in the Al Suyoh district of New Sharjah. The developer notes that all homes lie within walking distance from Masaar Central, the community hub which features entertainment, leisure, wellness and fitness facilities, along with direct access to Masaar’s forested landscape, outdoor amphitheatre, children’s waterplay area and a skate park.
“When we launched Masaar, we made a promise to our buyers that homes in this unique community would set a new standard of living – not just for Sharjah but for the entire UAE. It has been incredibly encouraging to see how the blend of exceptional design and facilities mixed with the huge potential for value creation has resulted in buyers from all over the world putting their faith in Masaar,” said Ahmed Alkhoshaibi, Group CEO of Arada.
He added, “We’re now fast-tracking both sales and construction at this project, with a view to completing Masaar sales within the next few months. The early launch of Sequoia brings us another step closer to that goal, and gives buyers the opportunity to purchase one of the few remaining homes in one of the UAE’s most popular off-plan projects.”
In early January 2023, Arada awarded a US $129mn contract for the Vida Aljada Hotel Complex to GAC and, in early February 2023, Arada reported a 46% rise in sales in 2022 to reach $955.5mn.
Homes at the Sequoia district range from two-bedroom townhouses to six-bedroom Sequoia Forest Signature Villas. Smart features come as standard at every Sequoia home while larger villas offer increased privacy, additional lounges, expansive terraces and swimming pools. All homes in Sequoia will be completed by the end of 2025, the developer explained.
Construction at the project’s first three residential districts, Sendian, Kaya and Robinia is underway, and the first homes are scheduled to be delivered later on in 2023. The construction contract for the fourth and fifth phases, Azalea and Sarai, will be awarded in the coming months, the statement added.
Valued at US $2.18bn, the Masaar master plan features 3,000 homes spread over seven gated districts, all of which are linked by a green spine featuring over 50,000 trees.
Masaar is located in the up-and-coming Suyoh district, close to Tilal City, the Sharjah Mosque and Arada’s first project, Nasma Residences. The community has easy access to Emirates Road and Mleiha Road, and is 15 minutes’ drive from Sharjah International Airport, and 20 minutes’ drive from Dubai International Airport, the statement concluded.
In mid February 2023, Arada successfully closed a $50mn second tap of sukuk.