Sharjah-based developer Arada has announced that it has started the handover of nearly 500 homes within Phase Four and Five of Nasma Residences. Construction on Phase Four, which comprises 302 villas and townhouses, and Phase Five, which features 174 townhouses, began in June 2019.
The developer has said that the first five phases of the community are fully sold out, while phase six, which was launched in September this year and comprises 124 villas and townhouses, is 50% sold out. Homes in Phase Six will be completed by the end of the second quarter of 2022, the developer said.
Nasma Residences is spread over an area of five million sqft and located in the Al Tay suburb. It is billed as an integrated community and comprises 1,100 homes, a 13-acre landscaped park with cycling and jogging tracks, two smaller neighbourhood parks, an international school and a mosque.
“Since handing over our first homes at Nasma Residences in May last year, we have pushed forward aggressively with construction in an effort to assure our customers of timely delivery to an exceptionally high quality. Although we have faced a number of onsite challenges earlier in 2020 as a result of the pandemic, I am proud to say that those challenges have now been mitigated, and we are delighted to welcome so many new residents to this beautiful new community,” said Arada chairman Sheikh Sultan bin Ahmed Al Qasimi.
In addition to home handovers in Phases Four and Five, Arada has also announced a number of new tenants for Nasma Central, the project’s retail and leisure complex, which has been designed to be integrated into the landscaped park, and which will open by the end of this year, the statement said.
Nasma Central will include two new food and beverage concepts, Vanilla Rose Café & Florist and Kaffa Coffee Lab & Kitchen, as well as a British Orchard Nursery and a Doc Barnet Men’s Salon. The new tenants will be joined by regional supermarket chain Spinneys and a drive-thru Starbucks outlet, alongside a pharmacy, laundry and clubhouse. Nasma Central is now 83% leased out, while a second retail complex, Nasma Square, is also scheduled to open before the end of the year, the developer noted.