Sharjah sees launch of $2b luxury forested community

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DUBAI

Arada, the UAE developer co-founded by Saudi entrepreneur Prince Khaled bin Alwaleed bin Talal, has unveiled its third megaproject in the emirate of Sharjah: A 19-million-square-foot upscale forested community with 50,000 trees. Masaar “path” in Arabic will be located in the Al-Juwaiza’a district of New Sharjah, and will include 4,000 villas and townhouses set in eight gated districts, with a total sale value of 8 billion UAE dirhams ($2.18 billion). Construction will begin in the second quarter of this year, and the first homes will be handed over in the first quarter of 2023. The main selling point of the project is its environmental credentials, with over 50,000 trees set to create a green spine, and a 5-km looped and continuous two-lane cycling track around the development. —AN