UAE master-developer Arada has awarded two contracts worth AED939 million ($256 million) for the construction of 986 new homes across two residential districts at Masaar, a woodland megaproject in Sharjah.
Valued at AED8 billion and containing 4,000 homes in seven gated districts, Masaar features a nature-inspired masterplan containing more than 50,000 trees.
The first deal, valued at AED401 million, for the development of 421 villas and townhouses in Masaar’s second residential phase, Kaya, was won by Abu Dhabi-based Pivot Engineering & General Contracting. The work will be completed within 18 months. The second contract, worth AED538 million, to build 565 villas and townhouses at Robinia, Masaar’s third residential phase, has been bagged by Sharjah-based contractor Intermass.
In another development, Arada said it has completed work on Nest, a AED700 million premium student housing cluster based within Sharjah’s key lifestyle community, Aljada.