The first of the community's five phases sold out in less than a month last year
Arada will launch phase 4 of the developer’s Nasma Residences, which will include 302 units and the launch of the Bareem Townhouses, a collection of two and three-bedroom homes created for couples and young families, the developer announced on Wednesday.
According to ARADA, the Bareem Townhouses will be launched a sales event at the Ritz Carlton in Dubai’s DIFC on Saturday, June 23, between 4pm and 10pm.
In a statement, the developer noted that the townhouses – which feature a clean, modernist design – are priced “extremely competitively in line with ARADA’s commitment to provide impeccably built homes at a price point that it accessible for everyone.”
Also available in phase 4, which is due to be handed over to owners by the end of next year, are a number of ARADA’s four and five-bedroom Signature Villas.
“With only one more phase to come before Arada’s first project, Nasma Residences, is completely sold out, we are expecting a significant response from investors and end-users,” said Sheikh Sultan bin Ahmed Al Qasimi. “The Bareem Townhouses at Nasma Residences are an excellent addition to the homes on offer at this well-designed community. They have created with owners’ interests at heart, and we look forward to delivering them towards the end of next year.”
Phase 1 of Nasma Residences is 35 percent complete and is on track to be delivered by the end of this year, according to Arada. Mobilisation on phase 2 took place earlier this year, and the main contract for phase 3 construction is expected to be awarded in July.
On Wednesday, ARADA also announced that the infrastructure contract for Nasma Residences has been awarded to Darwish Engineering Emirates LLC and that work on the community’s 6,500 square foot shopping centre has reached ground floor level. It is expected to be completed by the end of this year.
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.
In total, the project contains more than 800 homes, as well as a community centre called Nasma Square, parks and a GEMS international school, and is scheduled to be completed by the end of 2019.