Aljada, Sharjah’s largest mixed-use project, has broken the record for the number of homes sold by a developer in the emirate on a single day, it was announced on Tuesday.
The milestone came after Arada released Areej 5, an apartment block featuring 115 units in Aljada’s phase 1. All units, which included studios and one-bedroom apartments, sold out on the same day, beating the 102 units sold on Aljada’s launch day.
Sheikh Sultan bin Ahmed Al Qasimi, chairman of Arada, said: “I’m delighted to see that sales for Aljada are progressing stronger than ever, showing that demand for homes in this wonderful project remains undiminished.
"We look forward to breaking ground on Aljada at the beginning of next year, and repaying the faith that investors have placed in us.”
The record-breaking sales event follows recent updates at Aljada, including the signing of a partnership with Sharjah Electricity and Water Authority (SEWA) to power the 24 million square foot master-planned destination.
The AED24 billion Aljada was unveiled by Sheikh Dr Sultan bin Muhammad Al Qasimi, Ruler of Sharjah, in early September. Since that date, over 600 units have been snapped up by buyers.
To be delivered in phases starting in 2019, construction on Aljada will begin in the first quarter of 2018 and the entire project is expected to be completed by 2025.For all the latest business news from the UAE and Gulf countries, follow us on Twitter and Linkedin, like us on Facebook and subscribe to our YouTube page, which is updated daily.
Subscribe to Arabian Business' newsletter to receive the latest breaking news and business stories in Dubai,the UAE and the GCC straight to your inbox.