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Tue 19 Dec 2017 03:21 PM

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UAE developer launches phase 3 of Sharjah project following 'strong sales'

ARADA also confirms that education operator, GEMS, will open a school in Nasma Residences

UAE developer launches phase 3 of Sharjah project following 'strong sales'

Developer ARADA has announced the launch of phase 3 of Nasma Residences after reporting strong sales in phase 2 of the mixed-use project in Sharjah.

The UAE-based firm has also confirmed that the world’s largest private education operator, GEMS, will open a school in Nasma Residences.

Both announcements come shortly after enabling work began at the villa and townhouse community located in the heart of New Sharjah.

Phase 3 will incorporate a range of two-, three-, four- and five-bed villas and townhouses, a statement said.

Sheikh Sultan bin Ahmed Al Qasimi, chairman of ARADA, said: “We’re excited to launch phase 3 of Nasma Residences, and to have started construction of our first project on schedule. Furthermore, the new GEMS school reinforces our commitment to providing a fully inclusive experience to every homeowner in Nasma Residences.”

Dino Varkey, CEO of GEMS Education, added: “We’re delighted to bring the very highest quality education to Nasma Residences, with a new affordable international school.”

Launched in March, 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.

The main construction contract for work on phase 1 was awarded to Sharjah-based Intermass Engineering & Contracting and enabling works began in September, with the first phase on track to be delivered to homeowners by the end of 2018.

Spread over an area of 5 million sq ft, Nasma Residences also includes a 13-acre park with cycling and jogging tracks and large play areas, a multi-purpose community centre with club house, children’s nursery and medical clinic, the GEMS international school and Nasma Square, a retail mall.

The price of homes starts from just over AED1 million.

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