Arada starts handover of Nasma Residences Phase 2 in Sharjah
Phase 2 of the $408m project includes 184 homes, and precedes Phase 3's planned handover in Q1'20
Sharjah-based real estate developer Arada, formed as a joint venture between KBW Investments and Basma Group, has started handover on homes within Phase 2 of its $408m (AED1.5bn) Nasma Residences project, comprising 184 villas and townhouses.
Arada handed over 107 villas and townhouses from Phase 1 of the megaproject in May 2019.
Nasma marked Arada's debut in the market and was launched in March 2017.
The five-phase development features 968 residential units.
According to a statement published on Arada’s website, homes within Phase 3 of the community will he be handed over in Q1 2020, and units from Phases 4 and 5 will be delivered in the second quarter of 2020.
Speaking about the handover, chairman of Arada, HE Sheikh Sultan bin Ahmed Al Qasimi, said: “There are now only a limited number of units left for sale at [Nasma Residences], and we expect to be fully sold out by the end of this year.”
Located in Sharjah’s Al Tay, near the intersection of Emirates Road and Maliha Road, Nasma Residences spans 46.5ha, and features a Gems International School, and a 5.3ha landscaped park.
Additionally, the development will be home to a 6,503.2m2 retail project, Nasma Square, construction work on which will be completed in Q1 2020.
Nasma Central, which will feature shops, cafes, a gym, a swimming pool, and a nursery, will open in Q2 2020.