Nshama Announces ‘Safi’ project in Town Square

With the race for affordable housing options in Dubai heating up, Nshama has announced a residential community within its massive Town Square project.

Called Safi, the collection will feature studios and apartments, with prices starting AED 349,988 for a studio, AED 499,988 for a one-bedroom, AED 699,988 for a two-bedroom and AED 999,988 for a three-bedroom apartment. The prices are highly competitive considering the newness of the buildings as well as amenities the developer promises.

All the units will feature tiled floors and sound-proof windows, and the master-bedrooms will have in-built wardrobes and an en-suite bathroom. Amenities for residents would include four fitness centres – one in each block, swimming pools, district cooling and high-speed data connectivity, Nshama said.

Residents will also have access to a spa, skate parks, playgrounds, adventure play zones, splash parks, mosques and a local hospital. Sales for the units would be held on May 2, 2015, the company added. With an impressive list of facilities and a relatively cheap sticker price, the units are expected to sell like hot buns.

Safi follows the launch of over 300 units in Zahra Apartments in April this year, priced AED 349, 988 upwards, and townhouse communities Zahra and Hayat, starting at around AED 1 million for three-bedroom homes.

Nshama CEO Fred Durie said strong response from buyers for their residences underlined the real market demand for homes that were offered at highly competitive price points.

“We have awarded several construction contracts and Town Square is now taking shape.”

Launched in February 2014, Town Square, set over 31 million sq ft, features 3,000 townhouses and 18,000 apartments in total, and has been slated as a 10-year project, with roughly 3,000 units expected to be launched every year.

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.

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

Town Square is the company’s first major project.

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