Nshama to speed up affordable housing handover in Dubai

05.04.2016
Dubai developer Nshama promised to hand over first affordable property units in its Town Square project by September 2017.

Polarization is one of the most noticeable trends that appeared in the Dubai property market in recent years, all property experts agree. Super-expensive real estate units, luxury penthouses and apartments at Palm Jumeirah and Dubai Marina in high demand among world’s millionaires are at one end of a scale. And the other extreme is formed with apartments and small studios that developers are trying to make as affordable as possible, focusing on the mid-income property buyer.

And in order to balance these two opposite market categories developers alternate new projects launches of elite or the affordable sector. This time the latter category was in the focus of attention with Nshama having announced it is speeding up the handover of apartments and townhouses in the Town Square project in Dubai.

It is expected that new home owners of 1050 apartments and 1100 townhouses in Zahra and Hayat clusters will be able to move in by September 2017. The residential area in the Town Square will be located next to the central square of the size of 16 football fields. Vida Town Square hotel, Reel Cinemas with an open cinema will be also constructed at the territory, together with 600 shops and F&D outlets, green parks, jogging and biking trails and all the other elements of modern and comfortable urban area.

The complex will have a prestigious location, next to the Arabian Ranches Golf Course, Dubai Polo & Equestrian Club and Al Maktoum International Airport, near the site for the World Expo 2020.

The developer said that 2000 units with a price ranging from AED 614,888 for a one bedroom apartment up to AED 1 million for a three bed apartment or a townhouse have already been sold in the development.

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