Dubai’s Nshama Awards Dhs22m Deal To Al Naboodah For Town Square

Dubai developer Nshama has announced that it has awarded a Dhs22 million earthwork contract to Al Naboodah Contracting for complete grading works at its mega Town Square development.

Al Naboodah has already commenced grading works at the development, which spans 31 million sq ft.

Nshama, which launched Town Square in February 2014, has awarded a series of development contracts for the project, including the first phase deep services contract given to Saudi-based Binladin Contracting Group last week.

Town Square, which features 3,000 townhouses and 18,000 apartments in total, has been slated as a 10-year project, with roughly 3,000 units expected to be launched every year.

Fred Durie, CEO of Nshama, said: “We are making steady progress on Town Square as part of our commitment to our customers.”

Rashed Ahmed Saeed Al Naboodah, MD of Al Naboodah, added: “We have demonstrated competencies in undertaking such mega-projects and have a strong team of professionals and skilled workers on-site. The earthworks contract is progressing and we are committed to complete the work to agreed timelines.”

As part of the project’s first phase, Nshama has launched townhouses in Zahra and Hayat communities, starting at around Dhs1 million for three-bedroom homes. It has also unveiled around 306 apartments in Zahra, including studios, one-bedroom, two-bedroom and three-bedroom units, with prices starting at Dhs349, 988.

Located near Al Barsha, the development will also feature a 2.5 million sq ft retail precinct featuring over 600 stores and F&B outlets, a central square – the size of 16 football fields, a Vida Town Square Dubai hotel, a Reel Cinemas cineplex and open-air cinema.

Amenities include day-care facilities, playgrounds, play zones, swimming pools, fitness centre, athletic spa, skate parks, playgrounds, adventure zones, medical facilities and splash parks.

Established in 2014, Nshama is one of the newest property developers in Dubai and most of its senior management previously worked with Dubai’s biggest developer, Emaar Properties.

Town Square is the company’s first major project.

It is also working on another lifestyle project in a joint venture with Mohammed bin Rashid foundation (MBRF), but details about the development haven’t been revealed so far.