AL ZAHIA TO GIVE SHARJAH DH5 BILLION BOOST

By: Editor In Chief
    
Tue 3 March,2015

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Al Zahia has shared details on its residential community and stated that the project will generate a 10-year large-scale employment benefit during the construction phase.




Filed Under: Business News

Al Zahia, a residential community in Sharjah, will help Sharjah diversify in the real estate sector and its total contribution to emirate’s economy will reach Dh5 billion, said a top official of Majid Al Futtaim, or MAF.

 

Al Zahia — owned by Sharjah Holding and managed by Majid Al Futtaim Properties — on Monday shared details on its residential community and stated that the project will generate a 10-year large-scale employment benefit during the construction phase.

 

Bader Hareb, chief property officer at Majid Al Futtaim Properties-Communities“Al Zahia is not only supplying significant jobs for the people living in the emirate, but the development is also stimulating the local economy with a substantial contribution to the Sharjah economy,” said Bader Hareb (in pic, right), chief property officer at Majid Al Futtaim Properties – Communities.

 

“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 an affinity lifestyle accompanied with modern luxury, peace of mind, and a guaranteed convenient way of living.”

 

Al Zahia comprises a blend of modern and traditional designs with a range of three-, four- and five-bedroom townhouses and villas, in addition to studios and one- and two-bedroom apartments. The community also provides boutique villas catering to the commercial needs of the Sharjah business sector.

 

“We are pleased to see that the development is already fulfilling its promises. We have already completed phase one with 51 villas, during which time 49 homeowners took possession of their new properties. With the upcoming new release of homes which is already underway in phase two, marking construction of another 277 units, we expect this phase to be completed by second quarter of 2016. Phase two is now 90 per cent sold out and the last and final phase is estimated for completion in 2019. Al Zahia’s phase three comprises 101 villas with up to five bedrooms and 132 townhouses with up to three and four bedrooms,” added Hareb.

 

The Al Zahia community is ideally situated between Shaikh Mohammed Bin Zayed and University City roads, close to Sharjah University City and Sharjah International Airport, with major road links to Dubai and the Northern Emirates. It will ultimately be home to over 12,000 residents and span a total area of around 1,300,000 sqm.

 

Waleed Al Hashimi, chief executive officer of Sharjah Holding, said: “By transforming the mixed use real estate sector in Sharjah, Al Zahia gives momentum to the government’s vision and drive 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.”

 

Al Zahia marks the only gated community to date in the emirate to meet the continuously rising demand, both locally and regionally, for integrated lifestyles that combine modernity, privacy, convenience and safe living.




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