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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

With a gross development value (GDV) of $408m, Nasma Residences will complete by mid-2019.
With a gross development value (GDV) of $408m, Nasma Residences will complete by mid-2019.

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.

KEY FACTS
Project name: Nasma Residences
Location: Al Tay, Sharjah, UAE
Developer: Arada
Residential units (townhouses and villas): 800
Starting price per unit: $270,000 (AED995,000)
Gross development value (GDV): $408m (AED1.5bn)

AMENITIES
Nasma Square: 6,600m2 shopping mall
International school
Community mosque
Neighbourhood park: 5.3ha
Jogging tracks
Children’s play areas: 3,000m2 each (approx.)
Community centre: Including club house, and sports and recreation facilities

DEVELOPMENT TIMELINE
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

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Latest Issue

Construction Week - Issue 734
Mar 21, 2019