Property development company Arada has awarded two contracts totalling Dh1.48bn ($149.98m) for the construction of Sequoia and Saro, the final phases of the Masaar project in the United Arab Emirates (UAE).
Masaar, valued at Dh9.5bn, is a woodland development located in Suyoh, Sharjah.
The contract for Sequoia, amounting to Dh650m, has been secured by Pivot Engineering & General Contracting.
This Abu Dhabi-based company is also responsible for constructing Kaya, the second phase of Masaar, and will now build 428 homes in the new phase.
Meanwhile, Intermass, a Sharjah-based contractor, has been awarded the Dh830m contract to construct 597 units at Saro, marking the sixth and final phase of the development.
The company previously completed part of Sendian, the first residential phase of Masaar, and is currently working on Robinia, the third phase.
Construction of both Sequoia and Saro is set to commence immediately, with completion expected in mid-to-late 2026.
These latest awards bring the total number of homes under construction at Masaar to 2,570.
Arada Group CEO Ahmed Alkhoshaibi said: “We are thrilled to award these contracts in a timely manner, ensuring that the Masaar community is delivered efficiently and to an exceptional level of quality.
“Since the project’s launch over three years ago, our buyers have witnessed significant growth in the capital appreciation of their homes, and we are committed to continuing this success.”
In April this year, the company awarded two construction contracts for the fourth phase of the megaproject to Saleh Construction and Yanal Building Contracting Company.
At the end of 2023, 430 homes in the first phase were completed.
The second and third phases, Kaya and Robinia, respectively, which include 986 homes, are expected to be finished in the coming months.
Upon completion, the Masaar community will feature 3,000 villas and townhouses across six gated districts, interconnected by a 'green spine' with 70,000 trees.
The development has several completed amenities such as Masaar Discovery Centre and various family attractions, including a children's adventure playground, water play area, and more.
Additionally, the community offers Masaar Track, a 6.6km forested cycleway with bridges and tunnels, and The Loop, which provides bike rental and repair services alongside a café.
