Phase 1 villas of $6.8bn Sharjah Waterfront City 65% sold

Phase 1 villas of $6.8bn Sharjah Waterfront City 65% sold
Valued at $6.8bn, Sharjah Waterfront City is a mixed-use development comprising eight islands.
Published: 20 March 2018 - 3:24 a.m.
By: Fatima De La Cerna

Sharjah Oasis Real Estate Developments has sold 65% of the villas on Sun Island, the first phase of its $6.8bn (AED25bn) Sharjah Waterfront City project.

Scheduled for delivery in Q4 2019, Sun Island comprises 321 villas that come with a private beach, landscaped gardens, and smart home technologies, among other amenities and facilities.

According to the developer, it will be offering up to 5% discount on three- and four-bedroom beachfront units on the remaining villas on Sun Island, as it prepares to launch a sales campaign at the Acres Middle East real estate exhibition, which will take place at the Sharjah Expo from 21 to 23 March, 2018.

Sultan Al Shakrah, chief executive officer of Sharjah Oasis, commented: “Since the commercial launch of the project, we have received tremendous response from property buyers, investors, and brokers, and it is due to the high demand for quality homes [that] we are planning to [release the] new homes ahead of schedule.”

Spanning 557.5ha, the mixed-use Sharjah Waterfront City development project consists of eight islands. Upon completion, it will feature more than 95 high-rise towers, 1,500 villas and townhouses, 14 hotels and serviced apartments, two shopping malls, a water theme park, and an 800-berth marina.

Tech Group, an Ajman-headquartered multi-discipline construction and industrial company, was awarded the main contract for the Sun Island villas in August 2017.

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