Arada awards two contracts for Nasma Residences Phase 2
UAE developer Arada has awarded main construction contracts for Phase 2 of its Nasma Residences masterplanned community in Sharjah to two companies
UAE developer Arada has awarded main construction contracts for Phase 2 of its Nasma Residences masterplanned community in Sharjah to two companies.
The contracts were awarded to Sharjah-based Intermass Engineering & Contracting LLC and Klampfer Middle East LLC, a joint venture between Basma Group and KBW Investments.
The scope of works include construction of the 184 villas and townhouses that make up Phase 2 of the 464,515m2 project, which is Arada’s first community development.
Mobilisation onsite will begin in February, and handover of units to homeowners is scheduled for the first quarter of 2019.
Launched in March 2017, Nasma Residences sold out the first of the community’s five phases in less than a month, making it the fastest-selling residential real estate project in Sharjah.
In total, the project contains 800 homes, and is scheduled to be completed by the end of 2019.
HE Sheikh Sultan bin Ahmed Al Qasimi, chairman of Arada, said: “This year is a hugely important one for Nasma Residences, as we work towards handing over our first homes in the final quarter.
“These contracts for Phase 2 of this community shows our commitment to homebuyers to move quickly and deliver on schedule.”
The main construction contract for work on Phase 1 of Nasma Residences was also awarded to Intermass Engineering & Contracting LLC. Enabling works began onsite in September last year.
Homes range in size from 139m2 to 408m2, and start from $284,501 (AED1,045,000). The first phase is on track to be handed over by the end of 2018.
Amenities include a 13-acre lushly landscaped park with cycling and jogging tracks and large play areas, a multi-purpose community centre with club house offering sports and recreation facilities, a children’s nursery and full-service medical clinic, a GEMS international school, and Nasma Square, a retail mall.
Arada unveiled the launch of Phase 3 of its Nasma Residences in December, which includes an entirely new unit, the Three Bedroom Signature Villa.
Other units on sale include two-, three-, and four-bedroom townhouses and semi-detached villas, and four- and five-bedroom detached signature villas.