Last Month in Real Estate – UAE property news from September 2022
- ZāZEN Properties Unveils A New Project in Dubai
- Reportage Properties Launch A New Project in Masdar City
- Sharjah Sustainable City Starts Handover for Villas in Phase 1
- Arada Launches Central Business District in Aljada
- FAQs
As we bid farewell to September, it’s time to look at the new property developments that made headlines during the last month. From handovers to new project launches, September 2022 witnessed some exciting developments in the real estate industry. Want to stay in the know? We bring you the latest UAE real estate news in our monthly bulletin on MyBayut.
TOP UAE REAL ESTATE NEWS FOR SEPTEMBER 2022
Here are all the updates from the UAE real estate in September 2022.
ZāZEN PROPERTIES LAUNCHES A MIXED-USE DEVELOPMENT IN DUBAI
The hottest UAE real estate news for September 2022 comes from Dubai. One of the UAE’s homegrown developers, Zāzen Properties has launched a new project in Al Furjan.
Known as “Zāzen Gardens”, the project is expected to feature 35,000 sq. ft. of landscaping, EV charging stations, recycling stations and solar panels to minimise the cost of common area service for investors. This will be a LEED Gold-certified development in Dubai.
The sustainable property will include 159 apartments, which will span from 824 sq. ft. to 1,612 sq. ft. There will also be two retail outlets on the ground floor to cater to the needs of the visitors or residents of the community.
The goal of this project is to raise the living experience of those in Al Furjan. And, with the Expo 2020 site converting into the green, innovation-driven hub of Expo City, the value of the residential district is expected to increase exponentially.
Sharing his thoughts about the project, Zāzen Properties co-founder and COO Madhav Dhar said:
“Our next project, ‘Zāzen Gardens’ will not only be Leed Gold certified, and deploy onsite renewable energy through solar panels, but it will also introduce a new concept of integrated wellness design within the building, leading to healthier and happier environments for both owners and tenants,” he added.
The project is scheduled to break ground in April 2024. Those who want to invest in the project must know that off-plan sales will start in November this year.
REPORTAGE PROPERTIES LAUNCHES A NEW PROJECT IN MASDAR CITY
Investors and eco-conscious consumers with an appetite for green homes will be happy to know that Reportage Properties has unveiled a new project in Masdar City, Abu Dhabi.
Spread over 110,000 sq. ft., the “Plaza” project will comprise 348 residential units, including 154 studios, 961 1-bedroom apartments, 57 2-bedroom units and 41 4-bedroom townhouses. The units will be fully furnished, featuring balconies, cabinets, fibre-optic connections for high-speed internet, double-glazed windows, storage units and mirrors.
The project will also incorporate a BBQ area, a gym, a pool for adults and kids, 422 covered parking lots, a pet area, nine large elevators and shaded seating areas. There will also be three large, double-height lobbies, green spaces and an outdoor table tennis area.
The Plaza will be strategically placed, offering easy access to main roads, nearby parks, mosques, schools, stores and banks.
According to Islam Ahmed Suleiman, CEO of Reportage Properties, Plaza will come with innovative, eco-friendly solutions to support sustainability initiatives in the UAE.
SHARJAH SUSTAINABLE CITY STARTS THE HANDOVER OF VILLAS IN PHASE 1
In UAE real estate news, Sharjah Sustainable City has begun the handover process for houses in Phase 1 of the residential project. The environment-friendly area is built by Sharjah Investment and Development Authority (Shurooq), in collaboration with Diamond Developers. Homeowners who have bought villas in the first phase can now move into these units to experience an eco-friendly lifestyle in the emirate.
Properties in Sharjah Sustainable City boast excellent amenities, spacious layouts, beautiful designs and innovative smart home and energy management technologies. Homes have energy-efficient appliances and solar PVC panels on rooftops in a bid to minimise water consumption and energy.
Phase 1 is completely sold out, whereas Phase 2 is available for sale. That said, the development is all set to launch Phase 3.
Sharing his elation on the occasion, His Excellency Yousif Ahmed Al-Mutawa, Chief Executive Officer of Sharjah Sustainable City, said:
“It gives us great pleasure to be in the process of welcoming our first residents to Sharjah Sustainable City. This is the first step in turning this development from a construction project into the first eco-friendly community in Sharjah and represents a hugely significant milestone for us all here at SSC.”
ARADA LAUNCHES CENTRAL BUSINESS DISTRICT IN ALJADA
Consistent with the upturn in the Sharjah property market, Arada has launched a new commercial centre – Central Business District (CBD) – in Aljada.
Spread over 24 million sq. ft, CBD will include 4.3 million sq. ft of leasable area across 40 smart office blocks. The contemporary centre will have the capacity to accommodate around 20,000 workers.
This will include modern urban architecture, open floor plans, floor-to-ceiling windows and smart technology. The project will drive Aljada’s smart city programme, offering smart lighting and waste and traffic management solutions.
The first cluster of Arada CBD will comprise 812,000 sq. ft. of Grade A and B leasable space, spanning eight beautifully-designed buildings. The cluster will also have 1,666 parking lots, 26,500 sq. ft. of retail space and 76,000 sq. ft. of landscaped area. The first cluster of CBD is expected to be ready in the first half of 2025.
Talking about the project, Ahmed Alkhoshaibi, Group CEO of Arada, said:
“We are confident Arada CBD will unlock growth opportunities for companies in Sharjah and will encourage corporates and SMEs to expand and relocate to the emirate, consequently redefining the business scene in the Emirate and enhancing its position on the regional investment map. We have just begun the process of offering guided tours to all corporates interested in leasing space in Arada CBD and expect to see healthy demand for this exceptional new addition to Arada’s growing portfolio.”
FAQs ABOUT UAE REAL ESTATE NEWS SEPTEMBER 2022
CAN YOU BUY CHEAP HOUSES IN DUBAI?
Yes, there are many communities to buy houses in Dubai. The Springs, Jumeirah Village Circle (JVC), Reem and Serena are some of the most affordable villa communities in Dubai.
HAVE ANY NEW PROPERTIES LAUNCHED IN DUBAI?
Dubai saw many new property launches during the last few months. Address Villas Hillcrest, Beachgate by Address and Central Park at City Walk are some of the hottest property launches in Dubai for September 2022.
WHAT IS THE RENT OF PROPERTIES IN DUBAI?
The rent of apartments or villas in Dubai varies depending upon many factors, including the number of beds, amenities, location of the area and the current standing of the market.
That brings an end to our guide on the real estate news for September 2022.
As evident, the UAE developers have launched many new projects over the course of the last few months. Our UAE real estate news segment for August 2022 reveals many such exciting ventures rolled out by the country.
Those who want to know about the developments that took place earlier than August can dig into UAE real estate news for July 2022.
For more real estate news in the UAE, stay tuned to MyBayut.
