Staff Report
Dubai, UAE
Arada, a Sharjah-based mega developer, sold out all four phases at its Masaar 2 project in just three hours on the day of launch, selling all 2,000 homes with a total valuation of Dh5.6 billion. This makes the Masaar 2 the fastest-selling off-plan project in Sharjah so far, and one of the fastest-selling projects in the UAE overall.
The launch follows the successful Masaar megaproject in the Suyoh district of Sharjah. Masaar 2 spans 10.5 million square feet and offers units ranging in size from two-bedroom townhouses to five-bedroom villas. Residents will enjoy a variety of amenities, including a swimmable forest lagoon with waterfall, the standout feature of the master plan. Other amenities include sports and fitness facilities, a woodland jogging track, an adventure trail, a community mosque and an outdoor cinema, all designed within a 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.
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.”
Masaar 2 is located in the Rowdat district of Sharjah, close to Masaar and Arada’s first project, Nasma Residences. The community has easy access to Emirates Road and Khorfakkan Road, and is 15 minutes’ drive from Sharjah International Airport, and 30 minutes’ drive from Dubai International Airport.
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 percent to Dh40 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.
Launched in 2021, the first Masaar community was the first major post-pandemic off-plan project launched in the UAE. Totalling 3,000 homes spread across a 19 million square foot forested master plan, its six phases sold out rapidly due to buyer interest in its nature-led design, lush landscaping, and the promise of an active, healthy lifestyle. Half of the first Masaar has already been handed over, with the entire community scheduled for completion by the end of 2026.
Ends
Also read: Arada real estate portfolio value exceeds Dh55.7 billion, plans diversification
