UAE Homeowner Completes Transition to Forest-Themed Masaar Development in Sharjah
An Indian expatriate has become the first resident to move into the Dh9.5 billion Masaar megaproject in Sharjah after purchasing an off-plan villa for Dh2.3 million. The development emphasizes a forested environment and features 50,000 trees across six gated districts.
Key takeaways
- The first homeowner has moved into the Masaar forested megaproject in Sharjah after an off-plan purchase in 2021.
- The Dh9.5 billion development features 50,000 trees and will eventually comprise 3,000 homes across six districts.
- Property values in the initial phase are estimated to have appreciated by 50 percent since the start of the pandemic.
What Happened
Joseph Thadikaran, a banking professional, became the inaugural resident of the Masaar community in Sharjah's Suyoh area. Purchased in November 2021 for just over Dh2.3 million, the four-bedroom semi-detached villa was part of the initial Sendian phase of the Dh9.5 billion development by Arada. Following a key handover in early February and approximately one month of interior preparation, the family officially occupied the residence on March 1. The property's value is estimated to have increased by 50 percent since the off-plan purchase.
Background
The Masaar project is a large-scale residential scheme in Sharjah designed with a forested concept, intended to eventually house 3,000 homes. The community is structured around six gated districts and incorporates 50,000 trees. Strategic planning for the area includes a central precinct equipped with a skatepark, food truck district, children's playground, and dedicated event spaces. The development provides direct access to Emirates Road, positioning it as a suburban alternative to neighboring Dubai residential hubs.
Key Facts
- The property purchase price was approximately Dh2.3 million in late 2021.
- The residence includes four bedrooms, a guest room, a maid’s room, and five bathrooms.
- The Masaar project represents a Dh9.5 billion investment by the developer Arada.
- The initial Sendian phase consists of 430 individual homes.
- Estimated annual rent for a similar villa in the community ranges between Dh180,000 and Dh200,000.
- The family previously resided in Dubai’s Al Qusais area for 14 years before relocating to Sharjah.
What Happens Next
Occupancy in the community is expanding, with approximately 10 to 15 additional families moving into the first phase shortly after the initial handover. Further growth is expected as subsequent phases of the 3,000-home project reach completion. Additional residents, including associates of the first homeowner, are scheduled to move into later phases of the development over the next seven to eight months.
Sources reviewed
Project Chintan independently synthesized and analyzed information cross-checked across the sources listed above.
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