Al Thuriah Properties eyes new residential tower launch in 2018 following sale success of its Sahara Tower 6 project
Al Thuriah Properties has announced plans to construct a new residential tower in Sharjah following the sale success of its Sahara Tower 6 project.
The announcement comes after the developer revealed it has completed 50 percent of the construction of Sahara Tower 6 and sold all 33 of the three-bedroom apartments.
Due to high demand, Al Thuriah Properties said it is now negotiating with other investors on the sale of all existing units in Sahara Tower 6.
Raymond Khouzami, CEO of Al Thuriah: “The real estate market in UAE remains solid and has many investment opportunities.
“We’re pleased to announce that Al Thuriah Properties has sold many of the residential units in Sahara Tower 6, which comprises two adjacent high-rise towers with 39 and 21 floors respectively.
"To date, the total sale of units in the tower, which costs around AED450 million to construct, has exceeded 80 percent of total units. This is a clear indication that the real estate market in Sharjah is strong and robust, which has encouraged Al Thuriah Properties to launch another residential tower early next year.”
Sahara Tower 6 includes 376 apartments spread across two towers and is scheduled for completion in December 2019.