Shoumous Properties, a joint venture between UAE-based Albatha Real Estate and Moafaq Al Gaddah (MAG) Group, one of the region’s largest corporate entities based in Dubai, said it will set up the country's first fully-serviced plot facility for new homes in the emirate of Sharjah.

To be built at a cost of Dh550 million ($150 million), the exclusive Shoumous Residential Complex will have 220 residential plots spread across 6.8 million sq ft area, said a statement from MAG Group.

The complex will be freehold for Arab nationals with UAE residency, enabling this segment of society to be able to buy and resell within the complex after receiving clearance from the Sharjah Real Estate Department.

This unique offering marks a new era for property development in the UAE, it added.

“For the first time ever, customers can purchase a premium plot of land in a fully-serviced complex that allows them the freedom to plan and build their dream homes according to their own living concept and style,” stated Dr Hani S Abu Auida, the CEO of Shoumous Properties and vice chairman of the MAG Group.

“This is a unique proposition that we are offering and one not seen before in the country. We are providing customers with all the facilities and amenities they would expect of a premium real estate development,” he added.

The Shoumous Residential Complex will offer six different sizes of plots, ranging from 18,442 to 39,297 sq ft and all will have car parking and boundary walls.

The development, which is registered with Sharjah Real Estate Department, will be a full-service integrated gated facility situated in the Al Tai district of the emirate, with easy access to Sharjah Downtown and Sharjah Airport, whilst its proximity to Emirates Road means that Dubai is just 15 minutes away, said Dr Hani.

The complex will offer a multitude of services that will transform it into a self-contained community, with its extensive array of facilities including a commercial centre, three parks, two mosques and a hypermarket.

The landscaped development also features a sewage treatment plant with odour-control and storm water drainage. The facility management firm will provide security, cleaning and maintenance, with a state-of-the-art telecommunications network, it added.

“We extensively researched the needs of a premium buyer and found that there was demand from niche buyers who place a prime value on individuality as well as exclusivity. This is a great opportunity to invest in property in Sharjah,” said Dr Hani.

According to him, the development is expected to provide a significant boost to Sharjah’s real estate market once plots go on sale. The handover will be by the end of the year.
 
The complex, stated Dr Hani, will provide a superior standard of living in a concept that is set apart from any other offering in the market.

“We established that there exists a strong demand from the Arab community for personalised property options and set out to fulfill this demand - we are confident of a strong take-up with the sale of plots in this unique real estate development," he added.-TradeArabia News Service