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New laws, strong fundamentals big boost to UAE real estate market
ABU DHABI, February 15, 2021 The completion of ongoing infrastructure projects in the UAE along with various supportive measures launched by the government in 2020 to revive the economy will have a positive impact on the real estate market going forward, according to leading real estate advisors Savills. Abu Dhabi witnessed a positive momentum at the beginning of 2020 following the important government measures including the opening of the market to foreign investors allowing them to buy property and land within designated zones, stated Savills in its latest research report analysing the state of the UAE real estate market.
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Arada unveils upscale 4,000-unit residential community in Sharjah
SHARJAH, January 31, 2021 Arada, a leading property developer in Sharjah, has announced the launch of Masaar, the developer’s third project, a mega community in the Al Juwaiza’a district of New Sharjah with a sales value of AED8 billion. The 19 million sq ft upscale project will include 4,000 villas and townhouses in total, all set in eight gated districts linked by Masaar’s signature feature, a lushly landscaped and walkable ‘green spine’, said the statement from Arada. Construction on Masaar will begin in the second quarter, and the first homes are scheduled to be handed over in the first quarter of 2023, it added.
Dubai: The UAE’s property market gets its first offplan launch of 2021 – a Dh8 billion mixed-use community in Sharjah.
The master-developer, Arada, reckons there is enough demand for bigger homes and with ample space outside to go ahead with the launch, even as the country’s real estate sector is still coming to terms with the pandemic’s impact.
The new project, Masaar, is offering its units from Dh1.197 million. In total, 445 homes go on sale today (January 31). These are for the 1,730 square feet two-bedroom townhouses, and there are also four- and five-bedroom villas. The first handovers are set for first quarter 2023.