A little over two years after launching its debut project Nasma Residences, Sharjah-based developer Arada has delivered its first homes to owners, having on Tuesday handed over keys to buyers in Phase 1 of the project, which comprises 107 villas and townhouses.
The developer which launched in 2016 is now focusing on selling the project’s remaining units and delivering the rest of the project by the end of June next year, said Arada chairman Sheikh Sultan bin Ahmed Al Qasimi, who welcomed the first homeowners during a short ceremony.
Arada has also announced that the construction contracts for Phases 4 and 5 of Nasma Residences have been awarded to Intermass Engineering and Contracting to build 302 units, and Mohammed Abdulmohsin Al-Kharafi and Sons Company to build 178 units respectively.
Launched in March 2017, Nasma Residences sold out its first phase units in under a month. The community spread over 5 million sq ft area contains over 900 townhouses and villas placed within a family-focused master plan and green spaces.
The community also features retail centre Nasma Square, community space Nasma Central, which features gyms, an outdoor swimming pool, a nursery, supermarket and cafes and restaurants that overlook a 13-acre park, while other facilities include a GEMS international school, two smaller community parks and a mosque.
It is situated nearby the recently opened Mosque of Sharjah, the largest in the Emirate, as well as the Sharjah Botanical Garden and Sharjah Convention Centre, both of which are scheduled to open in the coming years. Tilal Mall, set to be one of the biggest in Sharjah, is also located close to Nasma Residences.
Arada’s second project, Sharjah’s largest mixed-use community Aljada, is spread over 24 million sq ft and features a number of partnerships with key industry players including Zaha Hadid Architects and Emaar Hospitality Group.
Construction at the project is well under way, and first homes are scheduled to be delivered to owners by the end of 2019.For all the latest business 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.