Sharjah Update: ARADA unveils its first master-planned residential community

Sharjah Update is a weekly business and investment news website from Sharjah Investment and Development Authority (Shurooq)

ARADA, a new mid-market property developer recently announced by KBW Investments and Basma Group, has launched Nasma Residences, a new master-planned residential community in Sharjah focused on ‘aspirational yet accessible living in an urban setting’. Located at the heart of one of Sharjah’s most dynamic residential and mixed-use residential areas, the company expects to complete the 5 million square foot development by the end of 2018.

Sales for the more than 800 contemporary residential properties will begin on March 21st, with availability being extended to Emiratis, GCC nationals and UAE expatriates, as per Sharjah’s 2014 property law. The updated property laws allow foreign expatriates living in the United Arab Emirates to acquire Sharjah property in designated zones via 100 year leasehold agreements.

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