Boss of developer Alef Group says investment landscape in Sharjah is ‘flourishing and wooing investors from inside and outside the country’
Al Mamsha is spread over a total area of about 3 million square feet, and the project will have a built-up area of 9.3 million square feet in addition to ground retail areas totalling to around 500,000 square feet.
Sharjah-based developer Alef Group has announced that the first phase of Al Mamsha, the emirate’s first fully walkable community project, will be delivered by the end of 2020.
Up to 62 percent of the flagship AED3 billion ($820 million) project’s phase one has been completed, while 41 percent of phase two, which consists of 927 housing units, is projected to be handed over by the beginning of June 2021.
Issa Ataya, managing director, Alef Group, said: “The investment landscape in Sharjah is flourishing and wooing investors from inside and outside the country.
Ataya added: “The emirate of Sharjah has fully realised the importance of the real estate sector and its direct and indirect impact on the rest of economic sectors and platforms, driving prosperity and development, and ultimately ensuring decent life for Emiratis and residents alike.
“Therefore, resilient laws and legislation have been introduced to guarantee and protect the rights of foreign and local investors.”
Al Mamsha is spread over a total area of about 3 million square feet, and the project will have a built-up area of 9.3 million square feet in addition to ground retail areas totalling to around 500,000 square feet.
The integrated car-free development will offer a range of services and amenities which are new to Sharjah, including dedicated basement parking facilities for residential and retail.
Cars will only be parked on the basement levels, with visitors and residents using vertical transportation means such as elevators and escalators to get access to retail or residential floors.
Al Mamsha will also offer studios, 1 bed, 2 beds and 3 beds apartments in addition to a selection of duplexes and penthouses and will feature a range of cafes and restaurants, and entertainment zones to host art galleries, Friday market, and outdoor events.
Source: arabianbusiness.
