Arada awards AED423 million construction contract to build East Village, second phase of Sharjah megaproject Aljada

Publish August 4, 2020
real estate

SHARJAH, 3rd August, 2020 (WAM) -- Arada has awarded a major contract to build East Village, the second phase of Sharjah’s AED24 billion mixed-use district, Aljada.

'Located in the heart of Aljada, the East Village community is targeted at the younger generation and comprises a series of apartment blocks that are characterised by fresh and bold designs. Featuring just under 2,000 units in total, East Village is now 95 percent sold out,' Arada said in a statement on Monday.

Valued at AED423 million, the full contract to build East Village was won by Best Building Contracting Company (BLDG CO – BEST – LLC) and involves the construction of 16 apartment blocks, set within a landscaped master plan. Work on East Village will begin immediately and the first homes are scheduled for completion in December 2021.

Sheikh Sultan bin Ahmed Al Qasimi, Chairman of Arada, said, 'This is a key moment in the development of this record-breaking project, and is evidence of our determination to push construction forward at a number of areas within the Aljada project site.

'We thank investors in East Village for their trust and will now work to ensure that their homes are built rapidly and to the highest level of quality. We have chosen a partner with a track record of stability and success to construct this special community, and we look forward to working with them to bring East Village to life.'

Located in the fast-growing Muwaileh district in the heart of New Sharjah, Aljada is a master-planned destination spread over a 24 million square foot area that is set to transform the future of the Emirate. As well as a number of residential districts, the city also includes extensive retail, hospitality, commercial, healthcare and education offerings, all ideally located in the last large plot of available land in the centre of Sharjah.

wam

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