UAE-based developer Arada has confirmed that construction work on the first phase of its Nasma Residences is now 20% complete, and is scheduled for handover by the end of the year.
The main construction contract for work on Phase 1 of Nasma Residences was awarded to Intermass Engineering & Contracting, while contracts for Phase 2 were won by Intermass and Klampfer Middle East.
Construction on Phase 2 has already commenced, with excavation and foundation works already under way.
Arada expects to award the contract for Phase 3 in May, with the entire community scheduled to be completed by the end of 2019.
HE Sheikh Sultan bin Ahmed Al Qasimi, chairman of Arada, said: “With construction work on the first phase of Nasma Residences already a fifth complete, we are on course to deliver ARADA’s first homes by the end of this year.”
Nasma Residences will be anchored by four community offerings and inlcudes a 13-acre park with cycling and jogging tracks and large play areas; a multi-purpose community centre with club house and recreation facilities; children’s nursery and full-service medical clinic; a GEMS international school; and Nasma Square, a 6,503m2retail mall.
Launched in March 2017, 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. Home sizes range from 139m2to 409m2and start from $285,000 (AED1m).