Nshama awards US$ 816 mn for 8 residential construction projects

Posted on 30th November 2016

Nshama, a private developer of integrated lifestyle communities, has awarded Dh3 billion ($816 million) construction contracts for eight residential projects and all requisite infrastructure at its trendy lifestyle project Town Square in Dubai, UAE.

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With more than 5,000 workers on site, the infrastructure and related works are progressing rapidly at Town Square, a 31-million-sq-ft development anchored by a central square, the size of 16 football fields, Vida Townsquare Dubai hotel and Reel Cinemas cineplex.

As the pioneer in developing affordable homes in trendy neighbourhoods with all modern lifestyle amenities, Town Square by Nshama will define a new lifestyle choice for Dubai residents when it emerges as a thriving neighbourhood next year.

The project, which ushered in the concept of high quality residential projects at ‘live at your price’ value, will hand over the first homes to customers next year, marking the on-schedule progress of the townhouses and apartments that were launched to strong investor response.

The key contractors chosen by Nshama include India's Shapoorji Pallonji, Kier Dubai, Al Naboodah Contracting, Beaver Gulf Group and Binladin Contracting Group.

Work will soon start on the Zahra Townhouses and Apartments, Zahra Breeze Apartments, Hayat Townhouses, Safi Apartments, Warda and Jenna Apartments and various infrastructure projects.

About 5,000 residences, as part of different neighbourhoods, are currently being built, and about 2,000 will be handed over by the end of 2017, said a top official.

The Central Square, which is the size of 16 football fields, is also coming to life. It will feature the Vida Townsquare Dubai hotel and a Reel Cinemas cineplex in addition to a 2.5 million sq ft retail precinct featuring over 600 stores and F&B (food and beverages) outlets, among others.

"We are happy to show our customers and potential buyers the construction progress of our freehold property. The value proposition that we put forward is unbeatable," remarked Fred Durie, the chief executive of Nshama.

"For the first time, customers have the opportunity to shift from a rental model to owned homes in a mega-development with all the modern amenities including hotels, cinemas, leisure outlets and a vibrant central square with a wide choice of retail and F&B," noted Durie.

He said the company was committed to delivering the dream homes to the customers as per schedule, in approximately a year from now, according to Tradearabia news report.

"We are working with only the best-in-class contractors and consultants, who have accelerated their workflow using the latest technologies to ensure on-time delivery. The economies of scale that we can bring and our focus on resource use optimisation set us apart, and enable us to deliver unmatched value for our customers," he added.

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