Reuters: UAE property developer launches $6.5 bln Sharjah project

11 September 2017

A United Arab Emirates real estate developer has launched a 24 billion dirham ($6.5 billion) project in the emirate of Sharjah, in a sign of demand for high-end housing spreading to the north of the country from the south.
The wealthy southern emirates of Dubai and Abu Dhabi have traditionally attracted the largest and most glitzy real estate projects, but economic growth and demand from residents fleeing rising living costs in the south are starting to change that.
The 2.2 sq km (0.8 sq mile) Aljada project, Sharjah’s largest mixed-use development, will be delivered in phases starting in 2019 and is expected to be completed by 2025, developer Arada said on Monday.
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