Dubai: The Sharjah developer Arada has launched the second phase of sales at its first community-themed project, the Arada Residences. This phase will also include five-bedroom villa units. The first round attained a sold out status ahead of expectations.
“We see this as a strong indication of investor confidence in Sharjah itself, largely thanks to the government’s efforts to encourage more urban communities with large green spaces,” said Shaikh Sultan Bin Ahmad Al Qasimi, Chairman.
While Phase 1 is scheduled for completion in late 2018, Nasma Residences will feature more than 800 homes delivered over four phases. The units range from 1,500 square feet to 4,400, and start from Dh995,000.
The developer also confirmed that construction on the community’s shopping centre — Nasma Square and with a built-up of 6,500 square feet — will begin in July. The overall site takes up 5 million square feet.
The location is in the heart of what developers are calling the “new Sharjah”. It is at the intersection of Emirates Road Highway 611 and Maliha Road, and adjacent to the under construction Tilal City, Tilal Mall and the new Sharjah Convention Centre.