Everything you need to know about Nasma Residences

Everything you need to know about Nasma Residences
With a gross development value (GDV) of $408m, Nasma Residences will complete by mid-2019.
Published: 1 May 2017 - 3 a.m.
By: James Morgan

Here’s all you need to know about Nasma Residences, the inaugural project from UAE-based 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.

The Sharjah-headquartered developer has managed to sell out all units of Phase 1 of Nasma Residences within a month.

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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