The long-standing relationship enjoyed by KBW Investments and Basma Group has enabled Nasma Residences to get off to a flying start. “The project’s infrastructure has already been completed,” says AlKhoshaibi. “Basma Group has several companies, one of which specialises in infrastructure. This company took on the work, which was great because, typically, most project delays stem from [problems during the infrastructure stage]. It meant that there was no risk in this respect. “Nasma Residences now has beautiful roads; the asphalt is there, the paint is on, and the streetlights are up. If you go to other [regional projects,] you’ll often find that the [residential units] are finished but there are no roads. We wanted to finish the infrastructure first because this will make things a lot easier for the contractors.” The decision to complete Nasma Residences’ infrastructure at the earliest possible stage seems particularly sensible within the context of Arada’s aggressive development timeline.
Construction Week May 2017 featuring Ahmed Alkhoshaibi discussing ARADA