Arada Developments LLC

Thomson Reuters: UAE’s Arada to award Nasma Residences Phase 3 construction contract in July

20 June 2018

Launched in March 2017, the five phases of Nasma Residences are spread over an area of 5 million square feet

Thomson Reuters: 20 June 2018

Sharjah-based developer Arada will award the main construction contract for phase 3 of Nasma Residence next month, the company said in a statement on Wednesday.

Work on Nasma Residences is progressing rapidly, with phase 1 now 35 percent complete and on track to be delivered by the end of this year. Mobilisation work on phase 2 began earlier this year,” the company said in a press release issued on Wednesday.

Darwish Engineering Emirates has been awarded the infrastructure contract. Work on the community’s 6,500 square foot shopping centre has reached ground floor level and is expected to be completed by the end of 2018.

Meanwhile, the developer has launched the fourth phase of Nasma Residences, releasing 302 housing units for sale.

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,” Sheikh Sultan bin Ahmed Al Qasimi, Chairman of ARADA, said in the statement.

Launched in March 2017, the five phases of Nasma Residences are spread over an area of 5 million square feet. In total, the project has more than 800 homes, a community centre, parks and a GEMS international school. It is scheduled for completion by the end of 2019.

Read the full article here.

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