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.For all the latest UAE news from the UAE and Gulf countries, follow us on Twitter and Linkedin, like us on Facebook and subscribe to our YouTube page, which is updated daily.
Subscribe to Arabian Business' newsletter to receive the latest breaking news and business stories in Dubai,the UAE and the GCC straight to your inbox.