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AED 2 billion Sharjah Sustainable City will be run on renewable energy
Project open to end users and investors of all nationalities
Sales to contribute to off-plan transaction boom in Sharjah
Sharjah has confirmed plans to build its own version of a sustainable city. The AED 2 billion development will span 7.2 million sq ft and comprise up to 1,120 villas that will be run on renewable energy sources. The development, officially called Sharjah Sustainable City, will be built in Umm Fannian, near Al Rahmaniya. Sales of units in the project will likely contribute to the recent real estate boom in the emirate, particularly in off-plan transactions.
As a freehold project, all nationalities will be eligible to buy from a choice of three-, four- and five-bedroom villas, through a dedicated sales centre at the Al Majaz Waterfront. Prices will range from AED 1.2 million to AED 2.6 million, with special offers for Sharjah-based locals as well as employees — both UAE nationals and expats — working with various Sharjah government departments.
Diamond Developers, the name behind Dubai Sustainable City, will work with Shurooq – Sharjah Investment and Development Authority – to complete the project by 2024. Muawieh Radaideh, Vice-President of Diamond Developers, said: “We are in the final design stages for Sharjah Sustainable City and should be in the ground-breaking process in a couple of months. The project will be divided into four phases and the first residents should move in by the fourth quarter of 2021. And the final phase within another three years of that.”
The self-sustained community will feature a school and retail offerings. The big draw will be 100% savings on electricity bills, and up to 50% savings on water thanks to sustainable technologies and the use of renewable energy.
Cavendish Maxwell is the MENA region’s leading firm of property consultants and chartered surveyors. If you are looking for professional real estate consultation or advice on property related matters, please get in touch.
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