Saturday, February 16, 2019 10:32 PM

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Intermass and Klampfer wins 184 villas contract from Arada

Arada, a joint venture involving Saudi billionaire Price Alwaleed bin Talal’s family, has awarded main construction contracts to Intermass Engineering & Contracting LLC and Klampfer Middle East LLC for Phase 2 of Nasma Residences, a fully self-sustained villa and townhouse community in the heart of New Sharjah, to two separate companies.

Sharjah-based Intermass Engineering and Contracting LLC and Klampfer Middle East LLC, a joint venture between Basma Group and KBW Investments, will construct the 184 villas and townhouses that make up Phase 2 of Arada’s first project. Mobilisation onsite will begin in February, and handover of units to homeowners is scheduled for the first quarter of 2019. 

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 800 homes, and is scheduled to be completed by the end of 2019.

The main construction contract for work on Phase 1 of Nasma Residences was also awarded to Intermass Engineering and Contracting LLC. Enabling works began onsite in September last year, and the first phase is on track to be delivered to buyers by the end of 2018. 

The news follows the announcement in December that the world’s largest private education operator, GEMS, will open an international school in Nasma Residences, ensuring that homeowners in the community have access to premium education for their children on their doorstep.

HE Sheikh Sultan bin Ahmed Al Qasimi, Chairman of ARADA, said: “This year is a hugely important one for Nasma Residences, as we work towards handing over our first homes in the final quarter. These contracts for Phase 2 of this community shows our commitment to homebuyers to move quickly and deliver on schedule.”

Spread over an area of 5 million square feet, Nasma Residences has been carefully planned to ensure a balance between living areas and community facilities. Keeping homeowners’ comfort and convenience top of mind, Nasma Residences will be anchored by a number of community offerings: a 13-acre lushly 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; the GEMS international school; and Nasma Square, a retail mall.

Nasma Residences offers a superior location in the heart of new Sharjah. It is located at the intersection of Emirates Road (E611) and Maliha Road, adjacent to the newly developing Tilal City, Tilal Mall and the new state-of-the-art Sharjah Convention Centre. It is also just 15 minutes from Sharjah International Airport and Sharjah University City. The location is ideal for a convenient and traffic-free commute from Sharjah to Dubai or the Northern Emirates.

With homes ranging in size from 1,500 square feet to 4,400 square feet complemented by generous plots, there is an offering to suit every prospective homeowner. With homes starting from Dh1,045,000, it offers an attractive opportunity for investors who want to buy in a lively new urban destination.