Abu Dhabi – Mubasher: Arada has awarded a major contract to build East Village, the second phase of Sharjah’s AED 24 billion mixed-use district, Aljada, to Best Building Contracting Company.

Valued at AED 423 million, the full contract involves the construction of 16 apartment blocks, set within a landscaped master plan, according to a press release on Monday.

Work on East Village will commence immediately and the first homes are scheduled for completion in December 2021.

Situated in the heart of Aljada, the East Village community targets the younger generation and comprises a series of apartment blocks that are characterised by fresh and bold designs. Featuring around 2,000 units in total, East Village is now 95% sold out.

On this occasion, chairman of Arada, Sheikh Sultan bin Ahmed Al Qasimi, said, “This is a key moment in the development of this record-breaking project, and is evidence of our determination to push construction forward at a number of areas within the Aljada project site.”

He added, “We have chosen a partner with a track record of stability and success to construct this special community, and we look forward to working with them to bring East Village to life.”

In July, Arada said that its first-half sales had increased by 10% year-on-year (YoY), citing significant investor uptake from UAE nationals as well as ramped-up interest following the successful opening of Madar at Aljada.