Hotel occupancy rates at 80% were the highest in the region
Sharjah Sustainable City, the first sustainable master-planned community in the emirate of Sharjah developed in partnership with the Sharjah Investment and Development Authority (Shurooq) and Diamond Developers, has commenced the handover process for homeowners who purchased villas in the second phase of the project.
The announcement of the handover for the second phase comes after an overwhelming response to the sustainable community, signifying a major achievement, with 85% of the project spanning across four phases already sold out by the end of December 2023.
The strong sales performance of Sharjah Sustainable City comes at a time when eco-conscious living has gained public traction. The villas are equipped with rooftop solar panels, featuring electric shuttles for internal mobility, the facility to grow vegetables and greens through vertical farming, and 100% of the wastewater treated for landscape irrigation, among other features. Extended over an area of 7.2 million square feet in the Al Rahmaniya area of Sharjah, the sustainable villas of the mixed-use community meet the highest standards of social, environmental, and economic sustainability while reflecting a deep understanding of the UAE real estate market, offering future-proof properties with excellent amenities at an attractive price for buyers and investors.
Yousif Ahmed Al-Mutawa, Chief Executive Officer of Sharjah Sustainable City, said: “As the first fully integrated and sustainable development in the emirate, Sharjah Sustainable City aims to instil a fully sustainable way of life that demonstrates that economic progress and sustainability can go hand-in-hand, and we look forward to introducing our new homeowners to this fulfilling and rewarding lifestyle. This significant milestone is a testament to the trust that our customers have bestowed on us, and as the remarkable success of our villas in the sold-out phases of the project demonstrates, the appetite for eco-conscious homes at our city seems to be only rising. In this community, we not only ensure a high quality of life for generations to come, but we are also proud to have set a benchmark for sustainable development in the region.”
By using thermal insulating construction materials and windows, smart home automation, water-saving appliances, energy-saving electrical fittings and rooftop solar PVC installations, the villas at Sharjah Sustainable City are projected to help its residents enjoy savings of up to 50% on their electricity and water bills.
New residents moving in for the second phase of the villa community will also discover how environmental sustainability is at the forefront of its social areas, including the Green Spine that runs through the centre of the community and supports vertical farming, reusing water for irrigation, and a waste-to-energy plant. In addition, the community encourages an active lifestyle through world-class amenities such as cycling and jogging tracks, green parks and playgrounds, swimming pools and health clinics.
Hotel occupancy rates at 80% were the highest in the region
GCC banks have consistently maintained a higher return on equity
FCA asks senior leaders to take personal responsibility for ensuring rules have been complied with
The deal has come under increasing criticism from U.S. politicians
Several checks and balances are already in place to monitor overseas investments
A spokesman for the brand, part of Volkswagen group , on Tuesday described Longo as a person of 'great integrity, culture, capability and sensitivity'
A common challenge for businesses is determining the commencement of their first tax period
ADIB’s rating has been elevated to AA from A in the annual update