Nshama Launches Second Batch Of Townhouses In Town Square Project

Private developer Nshama has launched Hayat, the second phase of residential townhouses in its 750-acre Town Square development.

Hayat consists of 730 townhouses in a mix of three and four bedroom units and will be centrally located within the development.

The recent launch comes after strong investor interest in Al Zahra, Nshama’s first phase of the residential development, earlier this month.

The prices for Hayat townhouses start from Dhs999,988 for three bedroom units, marginally higher than villas in the first phase of the project.

Each includes master-bedrooms with en-suite bathrooms, a private terrace and a garage large enough to accommodate two cars.

“The strong response to Zahra Townhouses from end-users, particularly middle income professionals in the salary range of Dhs20,000 per month, highlights that Town Square perfectly addresses the market need for homes that are within reach of a growing number of aspiring home-owners,” said Fred Durie, CEO of Nshama.

“Hayat Townhouses are also in the same ‘within-reach’ value as that of Zahra Townhouses. Our value proposition is clearly focused on singles, couples and families who wish to build their future in one of Dubai’s stylish, vibrant and youthful neighbourhoods.”

The company did not reveal the completion date of the second phase.

Overall Nsahama has launched 1030 residential units in its mega development to date.

Featuring 3,000 townhouses and 18,000 apartments, the Town Square development has been slated as a 10-year project, with roughly 3,000 units expected to be launched every year.

Located near the Al Barsha area, the development – the size of 16 football fields – will have around 600 retail outlets, hospitality and commercial units.

Amenities also include two football fields, natural and paved running tracks, 25 outdoor gymnasiums, skateboard parks, a children’s play area, green spaces, swimming pools and access to cycle tracks.

The development will feature one of the largest central parks in the world and a central fountain feature, with free wi-fi offered across its public areas.

Nshama also announced last month that it had signed a deal with Emaar’s Vida Hotels and Resorts to operate a boutique hotel at the development.

Established in 2014, Nshama is one of the newest property developers in Dubai. Although the company has denied that it has any collaboration with other developers in the emirate, most of its top senior management were previously part of Dubai real estate giant Emaar Properties.

Nshama’s CEO Fred Durie was previously CEO of Emaar International while the company’s chief operations officer Abubakr Sidahmed and its CFO Raghuraj Balakrisha also served in senior roles at Emaar.