Palace Residences 2: Alef Group's Apartment Project in Sharjah
Alef Group is developing Palace Residences 2 in Sharjah, a residential project with one, two, and three-bedroom apartments. Construction began in July 2026, with handover targeted for January 2029.
Sharjah: Connected to Dubai, Distinct from It
Sharjah shares a continuous urban boundary with Dubai, linked by Emirates Road and Sheikh Mohammed Bin Zayed Road. The commute from Sharjah to Business Bay or Downtown Dubai runs approximately 30 to 45 minutes outside rush hour. That road access places Dubai's employment base within workday-commute range for Sharjah residents. The two cities form a single continuous urban zone along the main road corridors, which means buyers at Palace Residences 2 are positioned in a market that directly adjoins the largest commercial centre in the UAE.
For investors, Sharjah's proximity to Dubai creates a rental argument based on cross-border commuter demand. The commute window of under an hour makes it realistic for a professional working in Dubai to live in Sharjah and commute daily. For end-users, the location provides Dubai access from a Sharjah address.
AED 1.7 Million: The Entry Price
AED 1,700,000 is the starting price for apartments at Palace Residences 2. The one-bedroom at 868 sq ft is the reference unit at this price, working out to approximately AED 1,958 per sq ft. The project spans one, two, and three-bedroom configurations, covering the range from compact units through to full family-sized apartments.
One, Two, and Three Bedrooms
The one-bedroom at 868 sq ft suits a single professional or couple looking for a well-connected primary residence. The two-bedroom extends the options for buyers who want a second room for a guest, a home office, or a second occupant. The three-bedroom serves families that need full living space across multiple rooms. The three-format range means the project has appeal for different buyer and investor profiles. An investor buying a one-bedroom targets a different tenant than one buying a three-bedroom; both tenant types have reason to be in Sharjah given the Dubai commute corridor.
Amenities
| Category | Amenities |
|---|---|
| Fitness & Wellness | Indoor Swimming Pool, Gymnasium |
| Outdoor & Leisure | Landscaped Gardens, Children's Play Area |
| Dining | Restaurants |
| Security | CCTV Security |
The indoor swimming pool is the standout in this amenity list. Together with the gymnasium and landscaped gardens, it signals a project positioned for residents who expect on-site leisure access. The children's play area and on-site restaurant point clearly toward family occupancy as the primary resident profile. The indoor-outdoor mix across the six facilities, from pool to gardens, gives residents options through different seasons. The amenity set as a whole reflects a project where daily-use facilities have been a deliberate part of the offer.
January 2029: Off-Plan with a Clear End Date
Construction started in July 2026. Handover is targeted for January 2029, about two and a half years from now. Buyers entering at this stage are at the start of the build cycle. The 10% down payment secures the unit, and the 30% during-construction tranche is spread across the build period. By handover, 40% of the purchase price will have been paid in stages, with the 60% final settlement due on keys.
Getting In for 10%
| Milestone | Payment |
|---|---|
| Down payment | 10% |
| During construction | 30% |
| Handover | 60% |
10% is all that is needed to secure a unit at launch. The structure then asks for 30% in instalments across the construction period, followed by 60% due at handover. There is no post-handover payment option. The full purchase price is settled when keys are handed over. For cash buyers, this is a clean three-stage structure. For mortgage buyers, the 60% at handover is the critical point at which financing must be in place and ready to disburse.