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March 16th 2020Al Zahia Project, Majid Al Futtaim Properties, Sharjah, Sharjah Holding

Al Zahia launches second phase of Uptown neighbourhood due to high demand

Sharjah: Sharjah Holding PJSC, a strategic partnership between Majid Al Futtaim Properties and Sharjah Asset Management, has responded to high demand for residences at its Uptown Al Zahia neighbourhood by launching the community’s second phase. Uptown Phase two kicks off with the newly released Woroud 3 residential building. In a first for a Sharjah development, the latest phase also introduces a market leading seven-year payment plan.

Strategically located on University City Road with direct access to Sheikh Mohammed bin Zayed highway, Uptown Al Zahia boasts a vibrant, urban lifestyle with apartments complemented by a High Street and 7,500 square metre retail space. With an exclusive pedestrian bridge offering direct access to the upcoming City Centre Al Zahia, Uptown Al Zahia also places a premium shopping, dining, and entertainment destination on residents’ doorsteps.

Woroud 3 offers buyers a choice of studio, one, two, and three-bedroom apartments, each complemented by first-rate facilities that include gyms, swimming pools, and barbecue areas. Under the new payment plan, buyers pay over seven years, with an initial five per cent down payment, 35 per cent paid over three years, and 60 per cent paid post-handover over four years.

Shadi Al Azzeh, Al Zahia Project Head at Majid Al Futtaim Properties, said: “With the launch of its second phase, Uptown Al Zahia continues to deliver on its promises of growth and long-term value for customers. This new phase introduces more high-quality residences to the emirate’s epicentre of growth, meeting strong demand. By shaping today’s real estate market and creating an aspirational place to call home, Al Zahia reinforces its leading position as Sharjah’s most desired lifestyle destination.

Walid Al Hashimi, Sharjah Holding’s Chief Executive Officer, added: “The high demand for Uptown Al Zahia is extremely satisfying as it reaffirms the fact that Sharjah’s property market remains strong. As we move closer to Al Zahia’s completion, we are contributing to Sharjah’s evolution as it grows and modernises with our changing times, while still remaining true to the emirate’s core values. The Uptown Al Zahia development alone is expected to contribute AED 790 million to the local economy, bringing further strength and prosperity to Sharjah.”

The entire Al Zahia development is scheduled to be completed by 2023 and will include 2,400 homes in total. To date, 55 per cent of the project has been sold with 800 families already in residence.