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Tag Archives: real estate

ARADA confirms AED1 billion loan for Sharjah mega-project

ARADA has arranged an Islamic syndicated loan of AED1 billion (US$ 274m) as financing for its the 24 million square foot master-planned community development, Aljada. The property developer’s finance facility was arranged by Abu Dhabi Commercial Bank (ADCB) and Dubai Islamic Bank as joint-lead arrangers and bookrunners. ARADA was formed in early 2017 as a joint-venture between KBW Investments and ...

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Sharjah real estate transactions up 37%

Sharjah registered a 37.2 percent increase in the value of real estate transactions made in the third quarter of 2017 compared to the same period in 2016, according to new statistics released by Sharjah Real Estate Registration Department (SRERD). A total of 34,304 million square feet of real estate was traded during Q3, with a total value of US$ 2.23 ...

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ARADA announces new Sharjah $6.5 billion master-planned residential community

ARADA, a property developer formed earlier this year by KBW Investments and Basma Group, has announced plans for a AED 24 billion ($6.5 b) master-planned community called ‘Aljada’ that will cover an estimated 2.2 square kilometres and accommodate up to 70,000 residents. According to ARADA, the new community will be located next to Sharjah University City and is expected to ...

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Alef Group launches AED 3 billion pedestrian-friendly residential community

Alef Group, a Sharjah-based real estate developer, has launched a new AED 3 billion (US$ 820m) pedestrian-friendly residential development in the city’s Al Juraina area. Announced as Sharjah’s first fully-walkable community and covering an estimated area of 3 million square feet (279,000 sqm.), ‘Al Mamsha’ will offer a variety of modern apartments, from studios through to penthouses with private terraces. ...

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Sharjah sees 46% increase in real estate sales transactions

Sharjah saw an overall 46 percent increase in the number of real estate sales transactions, according to the latest figures released by Sharjah Real Estate Registration Department. Commercial and residential buyers led Sharjah property sales during H1 2017, supported by the availability of new units as developers completed real estate projects in and around Sharjah city. Overall, Sharjah saw AED ...

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Sharjah house rental rates rise 12% during first half of 2017

Demand for houses in Sharjah has outperformed expectations with villa rental prices increasing by 11.7 percent during the first six months of 2017, according to global property consultancy Cluttons. The company’s Sharjah Property Market Snapshot for Summer 2017 report shows that average villa rents in Sharjah now stand at about AED 112,000 (c. US$ 30,500) per annum and can be ...

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Al Thuriah completes handover of Sahara Tower 4

Sharjah-based Al Thuriah Properties has announced the final handover of its AED 295 million (US$ 81m), 33-storey Sahara Tower 4 to home owners. The 3.1 million square foot (288,000 sqm.) mixed-use Sahara Complex on Sharjah’s Al Nahda Street, near to the border with Dubai, will ultimately have six residential towers. Construction of Sahara Towers 1 to 5 is already completed ...

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AED 1 billion government housing development launched in Al Sayouh suburb

Designs for a new AED 1-billion (US$ 274m) residential complex to be built in Al Sayouh (Al Suyoh) suburb in Sharjah have been unveiled by the Sheikh Zayed Housing Programme. Located near the Emirates Road and Sharjah-Kalba Road, 25 minutes from Sharjah city centre, the development is one of a number of government housing projects in Al Sayouh. The complex ...

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Uptake of Nasma Residences Phase 1 confirms mid-market demand

Nasma Residences Phase 1 has sold out less than a month after launch, confirming investor-demand for mid-market residential properties in Sharjah. Advertised by the developer, ARADA, as offering ‘aspirational yet accessible living in an urban setting’, the new master-planned residential community was announced in mid-March with residential units starting at AED 995,000 (US$ 271,000). Nasma Residences is scheduled for completion ...

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