Sharjah: Arada sells out $1.52bln Masaar 2
Prospective customers began queuing outside Arada's sales centres from 2am onwards and by 12pm, all 2,000 homes with a total valuation of AED5.6bn had been snapped up, making Masaar 2 by far the fastest-selling off-plan project in Sharjah, and one of the fastest-selling projects in the UAE overall.
The hotly anticipated Masaar 2 follows in the footsteps of the hugely successful Masaar megaproject in the Suyoh district of Sharjah. Spanning 10.5 million square feet and featuring serene woodlands, nature-inspired architecture and world-class amenities, Masaar 2 contains 2,000 contemporary homes, ranging in size from two-bedroom townhouses to five-bedroom villas.
Residents of Masaar 2 will enjoy a variety of premium amenities, including a spectacular swimmable forest lagoon with waterfall, the standout feature of the master plan. Other amenities include sports and fitness facilities, a scenic woodland jogging track, an adventure trail, a community mosque and an outdoor cinema, all designed within a serene and exclusive landscape that contains 40,000 trees.
Construction at Masaar 2 will start before the end of the year. The first homes are scheduled for completion by the end of 2027, and the full community with all its amenities will be completed by 2028.
HRH Prince Khaled bin Alwaleed bin Talal, Executive Vice Chairman of Arada, said, 'The original Masaar has been one of the UAE's most transformative communities, seamlessly blending a forested landscape with an urban master plan and it is no surprise to see the exceptional level of interest in Masaar 2, which also reflects the impressive strength of the Sharjah market, and the wider interest in the UAE as an exceptional investment destination overall. With Masaar 2, we are again reinforcing Arada's commitment to delivering high-quality, people-centric communities that enhance residents' wellbeing.'
Ahmed Alkhoshaibi, Group CEO of Arada, said, 'The first iteration of Masaar has been one of the UAE's most popular off-plan success stories of recent years, with both homeowners and investors alike praising the high quality of the finished homes, the good capital appreciation and impressive return on investment. We've been receiving daily requests about a second Masaar project since the original version sold out, and the significant pent-up demand in the market has resulted in the record-breaking sales that we have seen today.'
The strong buyer demand for Masaar 2 reflects the wider investor interest in the Sharjah property market, with the total value of sales in 2024 rising year on year by 40% to AED40 billion. Interest is being driven by recent changes to allow all nationalities to buy property on a freehold basis, the delivery of high-quality master-planned communities, particularly in the New Sharjah area, and the rise in real estate values in neighbouring markets such as Dubai.
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