Sharjah’s property sector gains pace
- 06 Jun 2021
Inayat-ur-Rahman, Gulf Today
The Sharjah’s realty sector gains pace due to high demand and huge investment opportunities for local and global investors. According to the report issued by the Real Estate Registration Department in Sharjah last month, the emirate real estate sector achieved a volume of transactions amounting to Dhs 6.7 billion during the first quarter of 2021, with a growth rate of 84.9% compared to the first quarter of 2020. Furthermore, the total number of transactions executed in the past three months reached 20,448 transactions, with an increase of 10.3% compared to the same period last year. In addition, the total traded area in the emirate reached 60.3 million square feet.
Alef Group, a leading real estate developer and a pioneer in developing world-class lifestyle experiences in Sharjah, has announced the completion of Phase One in Al Mamsha project, with the handover of residential and retail units to begin this June.
Alef Group will deliver Phase One, which comprises seven buildings comprising 693 residential units and 41 retail stores. The residential units in the project vary between studios and 1-2-3-bedroom apartments, all designed to the highest international quality standards and equipped with the finest facilities and amenities.
Issa Ataya, CEO of Alef Group, said: “We are thrilled to announce the start of the handover of Phase One in Al Mamsha, a project that fulfills the vision of the late Sheikh Khalid Bin Sultan Al Qasimi, the founder of the group, to provide unique lifestyle experiences for local communities and retailers. Al Mamsha embodies the elements of Sharjah’s rich history and its leadership in the fields of culture, education, and urbanism.”
Ataya added, “This prestigious complex will witness hundreds of families receive the keys to their residential units. We thank all the teams who worked around the clock to make the handover to residents and investors of this world-class project a success, which is a real contribution to the development of Sharjah.”
