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Arada Unveils Upscale 4,000-Unit Residential Community in Sharjah

Front view of Sendian Parks Villa. Masaar, Arada’s third project, which is valued at AED8billion and located in the Al Juwaiza’a district of New Sharjah. Courtesy Arada
Front view of Sendian Parks Villa. Masaar, Arada’s third project, which is valued at AED8billion and located in the Al Juwaiza’a district of New Sharjah. Courtesy Arada
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Arada Unveils Upscale 4,000-Unit Residential Community in Sharjah

Front view of Sendian Parks Villa. Masaar, Arada’s third project, which is valued at AED8billion and located in the Al Juwaiza’a district of New Sharjah. Courtesy Arada
Front view of Sendian Parks Villa. Masaar, Arada’s third project, which is valued at AED8billion and located in the Al Juwaiza’a district of New Sharjah. Courtesy Arada

Sharjah-based real estate developer Arada has announced the launch of Masaar, the developer’s third project, with a sales value of AED8 billion (USD2.2 billion).

The 19 million square foot upscale project will include 4,000 villas and townhouses in total, all set in eight gated districts linked by Masaar’s signature feature, a lushly landscaped and walkable ‘green spine’.

Construction on Masaar will begin in the second quarter, and the first homes are scheduled to be handed over in the first quarter of 2023.

"Masaar offers a path to the ultimate lifestyle transformation, and a major addition to Sharjah’s residential landscape. It is a serene, exclusive and forested environment that also offers all the comforts of a modern urban district, offering you the best of both worlds,” Sheikh Sultan bin Ahmed Al Qasimi, chairman of Arada, said.

Prince Khaled bin Alwaleed bin Talal, vice chairman of Arada, said, "Masaar has been designed to make its residents happier and healthier, while at the same time providing substantial benefits for the environment.

“The abundance of green space, and an active lifestyle will also help to reduce the stresses of urban life, especially at a time when the importance of safety and security has never been higher. We believe that by uniting people with nature, this community will set a new standard for living in the UAE."

He told Asharq Al-Awsat newspaper that funding is occurring through a combination of shareholders, banking loans, and sales revenues.

So far, Arada has acquired SAR2.3 billion (USD613 million) from the banking funding. “In case any additional funding is needed, the options will be discussed with our partners in the banking sector,” Prince Khaled added.

The Arada Vice Chairman further assured that all buyers from the GCC countries and other Arab countries may purchase properties in Masaar on the basis of the freehold system while buyers from other nationalities may purchase on the basis of the leasehold ownership.

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Trump Exempts Mexico Goods from Tariffs for a Month, but Doesn’t Mention Canada

Construction workers are seen on the site of a new development in Long Beach, California, March 5, 2025. (AFP)
Construction workers are seen on the site of a new development in Long Beach, California, March 5, 2025. (AFP)
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Trump Exempts Mexico Goods from Tariffs for a Month, but Doesn’t Mention Canada

Construction workers are seen on the site of a new development in Long Beach, California, March 5, 2025. (AFP)
Construction workers are seen on the site of a new development in Long Beach, California, March 5, 2025. (AFP)

US President Donald Trump on Thursday said Mexico won't be required to pay tariffs on any goods that fall under the United States-Mexico-Canada Agreement on trade until April 2, but made no mention of a reprieve for Canada despite his Commerce secretary saying a comparable exemption was likely.

"After speaking with President Claudia Sheinbaum of Mexico, I have agreed that Mexico will not be required to pay Tariffs on anything that falls under the USMCA Agreement," Trump wrote on Truth Social. "This Agreement is until April 2nd."

Earlier on Thursday, US Commerce Secretary Howard Lutnick said the one-month reprieve on hefty tariffs on goods imported from Mexico and Canada that has been granted to automotive products is likely to be extended to all products that comply with the US-Mexico-Canada Agreement on trade.

Lutnick told CNBC he expected Trump to announce that extension on Thursday, a day after exempting automotive goods from the 25% tariffs he slapped on imports from Canada and Mexico earlier in the week.

Trump "is going to decide this today," Lutnick said, adding "it's likely that it will cover all USMCA-compliant goods and services."

"So if you think about it this way, if you lived under Donald Trump's US-Mexico-Canada agreement, you will get a reprieve from these tariffs now. If you chose to go outside of that, you did so at your own risk, and today is when that reckoning comes," he said.

Nonetheless, Trump's social media post made no mention of a reprieve for Canada, the other party to the USMCA deal that Trump negotiated during his first term as president.

Lutnick said his "off the cuff" estimate was that more than 50% of the goods imported from the two US neighbors - also its largest two trading partners - were compliant with the USMCA deal that Trump negotiated during his first term as president.

Canadian Prime Minister Justin Trudeau called Lutnick's comments "promising" in remarks to reporters in Canada.

"That aligns with some of the conversations that we have been having with administration officials, but I'm going to wait for an official agreement to talk about Canadian response and look at the details of it," Trudeau said. "But it is a promising sign. But I will highlight that it means that the tariffs remain in place, and therefore our response will remain in place."

Lutnick emphasized that the reprieve would only last until April 2, when he said the administration plans to move ahead with reciprocal tariffs under which the US will impose levies that match those imposed by trading partners.

In the meantime, he said, the current hiatus is about getting fentanyl deaths down, which is the initial justification Trump used for the tariffs on Mexico and Canada and levies on Chinese goods that have now risen to 20%.

"On April 2, we're going to move with the reciprocal tariffs, and hopefully Mexico and Canada will have done a good enough job on fentanyl that this part of the conversation will be off the table, and we'll move just to the reciprocal tariff conversation," Lutnick said. "But if they haven't, this will stay on."

Indeed, Trudeau is expecting the US and Canada to remain in a trade war.

"I can confirm that we will continue to be in a trade war that was launched by the United States for the foreseeable future," he told reporters in Ottawa.