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Fri 14 Sep 2018 12:15 AM

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$810m car-free Sharjah real estate project being 'fast-tracked'

Developer Alef says Al Mamsha project in Sharjah is being fast-tracked to complete it in record time

$810m car-free Sharjah real estate project being 'fast-tracked'

Alef Group, a Sharjah-based real estate developer, has confirmed that its AED3 billion ($810 million) Al Mamsha project is being fast-tracked to complete it in record time.

The announcement comes after Al Hamad Building Contracting Company was appointed as the main contractor for Sharjah’s first fully walkable community earlier this month.

Since then, Alef said the integrated car-free project has witnessed "rapid progress in the development work".

Al Mamsha will span over a total land area of approximately three million square feet and community facilities will include dedicated cluster swimming pools, health club and gym facilities, walkways, nurseries, family entertainment centre, a dedicated kids’ zone, and retail area.

It will also feature an array of studios, one-, two- and three-bedroom apartments, in addition to an exclusive selection of duplexes and penthouses.

Designed as the focal point of the community, The Khan will serve as the central F&B hub of Al Mamsha, while the Entertainment Zone at Al Mamsha includes a live event platform that will host musical concerts, art galleries, Friday market, food tasting and outdoor fitness events.

Issa Ataya, Alef Group, managing director, said: “Al Mamsha project is on track and the construction is progressing rapidly after the appointment of Al Hamad Building Contracting Company as the main contractor.”

Al Mamsha constitutes a total of 33 buildings while Zone 1, the first part of the project to be constructed, will have seven buildings.

Statistics released by the Sharjah Real Estate Registration Department revealed that the total value of real estate transactions in Sharjah grew by 20.3 percent in 2017 to AED29.8 billion.

Ataya added: “After performing extensive research in the Sharjah market, We see an inevitable need for a project like Al Mamsha and we are confident that it will be a valuable addition to the community."

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