Nshama, a Dubai-based developer, will start selling apartments in its Town Square project for AED349,988 after having sold townhouses for less than AED1 million, with real estate experts hoping more developers to follow suit.
The apartments are located in the 750-acre development near Al Barsha, in close proximity to Arabian Ranches Golf Course, and will be anchored by a central square, a Vida Town Square Dubai hotel, a cineplex and open-air cinema.
There will be 306 apartments for sale, which begins on April 11.
Studios and one-bedroom apartments range from 515 to 600 square feet, while two-bedroom apartments from 825 to 965 square feet and three-bedroom apartments from 1,200 to 1,400 square feet. In total, the development will house over 3,000 townhouses and over 18,000 apartments.
“The young generation is eager for a home that truly represents their individuality and this is exactly what Zahra apartments deliver,” company CEO Fred Durie said in the statement.