Master-planned community will have more than 800 residences and will cover 5,000,000 sq ft
Arada, a recently established UAE-based real estate developer, has announced the launch of its first project in Sharjah – Nasma Residences.
Expected to be complete in late 2018, the master-planned community will have more than 800 residential properties and several community facilities, situated in a cultural and business hub, the developer said in a statement.
Investors will be offered a choice of two and three bedroom townhouses, four-bedroom semi-detached homes and five-bedroom signature villas. The development itself will be spread over 5,000,000 sqft of land.
“We are very proud to be launching Nasma Residences just over a month following Arada’s announcement. This is a clear indication of the reliability and credibility that we conveyed to the market from the outset,” said Sheikh Sultan bin Ahmed Al Qasimi, chairman of Arada.
“The project also translates our aspirations to stay in line with Sharjah leadership’s vision to create urban communities with vast green spaces. Nasma Residences is our value-added proposition to consumers demanding higher living standards combining product quality and affordability. We are confident that the project will be well-received by families and investors who are seeking ergonomically-designed homes in a strategically-located and emerging destination.”
A partnership enterprise jointly founded by KBW Investments chairman, Prince Khaled bin Alwaleed bin Talal and Basma Group chairman, Sheikh Sultan bin Ahmed Al Qasimi, Arada commenced operations in early December 2016.
Nasma Residences will be anchored by four community offerings, the developer said. A 13-acre park with jogging and cycling paths will form one offering, while a multi-purpose community centre with a club house offering sports, medical and recreational facilities will form another. Also included in the community offerings is an international school and a retail mall that will answer day-to-day shopping needs and dining options.
Over 50% of the masterplan will be dedicated to community facilities, while homes will range in size from 1,500sqft to 3,500sqft. Prices will start at AED995,000, the developer added.
The project will be located at the intersection of Emirates Road highway #611, and Maliha Road, adjacent to the Tilal City and Tilal Mall developments. It is situated 10 minutes away from Sharjah International Airport and Sharjah University City.