ARADA, a new mid-market property developer recently announced by KBW Investments and Basma Group, has launched Nasma Residences, a new master-planned residential community in Sharjah focused on ‘aspirational yet accessible living in an urban setting’. Located at the heart of one of Sharjah’s most dynamic residential and mixed-use residential areas, the company expects to complete the 5 million square foot development by the end of 2018.
Sales for the more than 800 contemporary residential properties will begin on March 21st, with availability being extended to Emiratis, GCC nationals and UAE expatriates, as per Sharjah’s 2014 property law. The updated property laws allow foreign expatriates living in the United Arab Emirates to acquire Sharjah property in designated zones via 100 year leasehold agreements.
Nasma Residences is to offer investors a choice of two and three bedroom townhouses, four bedroom semi-detached houses and five bedroom signature villas. According to ARADA, homes in the development will start at AED 995,000 (US$ 271,000), with unit sizes ranging from 1,500 sq. ft. to 3,500 sq. ft., complemented by large plots.
Allocating over 50 percent of its space dedicated to community facilities, Nasma Residences will have four core community offerings: a 13 acre landscaped park with cycling and jogging tracks and large play areas; a multi-purpose community centre with club house offering sports and recreation facilities, children’s nursery and full-service medical clinic; an international school; and a retail mall offering day-to-day shopping, specialty retailers and a range of dining options.
Adjacent to the Tilal City residential development, Tilal Mall (opening 2019) and the upcoming new Sharjah Convention Centre (opening 2017), Nasma Residences is located at the intersection of Emirates Road Highway #611 and Maliha Road. Residents will find the drive to Sharjah city centre as little as ten minutes, just ten minutes to Sharjah International Airport and Sharjah University City, and 20-25 minutes to Dubai International Financial Centre.
Sharjah’s property market development is supported by a solid local economy, a rise in rental prices in other emirates over the past few years and the 2014 change in Sharjah’s property laws, allowing foreign residents in the UAE to invest.
Source: ARADA, various
Photo gallery (click to view larger size)
The Nasma Residences Sales Centre is located at the Radisson Blu Sharjah and is open from 10:00am to 7:00pm Saturday-Thursday, starting Tuesday, 21 March 2017.