Nasma Residences: Everything you need to know
The following article contains everything you need to know about Nasma Residences, Arada’s $408m, 800-unit debut development in Sharjah, UAE
Nasma Residences is the inaugural project from UAE-headquartered developer, Arada.
Located in Sharjah, less than 30 minutes’ drive from Dubai International Airport, the community will feature 800 residential units and a broad range of public amenities.
Arada was formed in January 2017 as part of a partnership enterprise between Saudi Arabia’s KBW Investments and the UAE’s Basma Group.
The Sharjah-headquartered developer launched Nasma Residences less than two months following its establishment, selling out all Phase 1 units within the space of a month.
The following feature contains all of the information you need to know about Arada’s debut development.
Project name: Nasma Residences
Location: Al Tay, Sharjah, UAE
Residential units (townhouses and villas): 800
Starting price per unit: $270,000 (AED995,000)
Gross development value (GDV): $408m (AED1.5bn)
Nasma Square: 6,600m2 shopping mall
Neighbourhood park: 5.3ha
Children’s play areas: 3,000m2 each (approx.)
Community centre: Including club house, and sports and recreation facilities
Infrastructure completed: April 2017
Phases of construction: Five, with three-month intervals
Phase 1 residential units: 107
Phase 1 amenities: Nasma Square, neighbourhood park, and international school (TBC)
Phase 1 tender to be floated: May 2017
Phase 1 contractor to be selected: June 2017
Phase 1 construction to commence: July 2017
Phase 1 completion deadline: October 2018
Phase 2 construction to commence: October 2017
Overall project completion deadline: H2 2019