UAE's SZHP inks deals for $99m Al Sayouh homes in Sharjah
Two developers will build 336 homes as part of Sheikh Zayed Housing Programme's contract, with completion due in 2021
Sheikh Zayed Housing Programme (SZHP) has entered an agreement with two developers to build 336 residences at the Al Sayouh 16 residential complex in Sharjah, worth $99.4m (AED365.4m), which are due to complete in Q4 2021, with plans in place to construct a further 482 residential units as part of Al Sayouh's Phase 2.
According to UAE state news agency Wam, Phase 1 includes the construction of 206 residential units in Block B of the complex, valued at $62.8m (AED230.9m), by one developer.
Meanwhile, the second developer will build 130 residential units in Block D, valued at $36.6m (AED134.5m).
SZHP’s director-general, Eng Jameela Al Fandi, signed the contract in the presence of the UAE's Minister of Infrastructure Development and chairman of SZHP's board of directors, Dr Eng Abdullah bin Mohammed Belhaif Al Nuaimi.
Commenting on the project, Al Nuaimi said the scheme was part of the government’s efforts to achieve housing stability by building sustainable residential complexes.
He added: “The project will reduce the carbon footprint of every residence by 21%, as well as water consumption by 33%, and electricity by 10%.”