NSHAMA Town Square  

NSHAMA Town Square is a mega real estate development announced in March 2015. This community will be launched over several phases and will comprise mainly of affordable townhouses and apartments. As of Oct 2016, three phases of townhouses and several apartment developments have been launched. The first phases of Town Square will be delivered from 2017onwards.

Property Types Available: Townhouses, Apartments
Location: Dubai Bypass Road, Al Qudra Road
Status: Under Construction, Proposed
Year Launched: 2015
Developer: NSHAMA
Title Type: Freehold
Quality Classification: Mid-end
Life Cycle: Under Construction
Under-Construction Townhouses: 1,500

Investment Feasibility & Decision Drivers

Snapshot summary for investing in NSHAMA Town Square

Investment Score

Value for Money
60%
Project Uniqueness
90%
Location & Connectivity
65%
Rental Yield Expectation
80%
Capital Growth Expectation
75%
More information on investment scores

Total Score

Synopsis

Sale Status: Partially sold out. Units available.

Payment Plan: Somewhat investor friendly

Ideal for: End-Users & Investors

Price Range: AED 670 PSF - AED 900 PSF

Unit Types Available: 1 Bedroom Apartment, 2 Bedroom Apartment, 3 Bedroom Apartment, 3 Bedroom Townhouse, 4 Bedroom Townhouse

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What Our Experts Think

Four townhouse enclaves have been launched in NSHAMA Town Square and all three have sold out on launch. 3 bed townhouses on the secondary market are for AED 1.3 - 1.4 million. 4 Bed Townhouses in the secondary market are for AED 1.65 - 1.75 million.

Several apartment projects have been launched (and will continue to be launched). Each apartment building has only a handful of smaller unit types so they are nearly never available. Town Square mainly contains 2 & 3 bedroom apartments; 2 beds are from AED 850 - 1.1 million while 3 bedrooms are from AED 1.1 - 1.3 million.

Investing in Town Square is a unique proposition in Dubai because its not a stand-a-lone building but rather an entire master-planned community being built by one developer with lots of amenities for a good, suburban lifestyle. Construction progress is also rapid so investors can expect to get unit deliveries with little or no delay.

The Developer is offering a special payment plan only for a limited period of time (Ra

Investment Guide NSHAMA Town Square - Sep 2016

 Published on Sep 22 2016   5,896 Views   More Videos

 Source: LOOKUP.AE

 Category: Investment Guide

A comprehensive look at the Town Square development by NSHAMA.

Interested in buying an apartment or townhouse in NSHAMA Town Square?

Contact us now to arrange a site visit, to view the project models / show-units, or get specific options for sale. Call +971-50-7086765

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About NSHAMA Town Square

Announced in early March 2015, Town Square is a mega development that is to be built in stages along the intersection of Al Qudra Road and Dubai By-pass Road.

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General Guide

NSHAMA Town Square is a mega development which will eventually have 3,000 townhouses and 18,000 apartments. The 31 million sq. ft. development will be anchored by a central square the size of 16 football fields which will be surrounded by 350 shops, restaurants, cafes and a shaded public plaza.

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The central square will also host a Vida branded hotel, a REEL Cinema cineplex and an open air cinema. Other facilities in Town Square will include extensive walking and cycling trails, a connection to the Dubai Cycle Track, a proposed Metro-line and Etihad Rail. According to press-releases, NSHAMA are in talks with school and clinic operators.

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Townhouses

In March and May of 2015, NSHAMA launched two phases of townhouses called Zahra & Hayat - each phase offering various types of 3 & 4 bedroom townhouses. Prices of these townhouses ranged from AED 1.0 - 1.4 million for the 3 bedroom townhouses and AED 1.4 - 1.7 million for the 4 bedroom townhouses. Both phases were sold out on launch day itself.

In September 2016, NSHAMA announced a new phase of townhouses - Safi Townhouses which will consist of 3 & 4 bedroom townhouses to be handed over in 2019. Safi Townhouses were sold out on launch day itself.

From mid-2016 on-wards, secondary market transactions for townhouses in Zahra and Hayat have commenced. Buyers can now find units from the secondary market and purchase by paying premiums ranging from 8 - 15%.

In November of 2016, NSHAMA launched a fourth enclave of townhouses called Noor which also consists of 3 & 4 bedroom townhouses.

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Apartments

As of October 2016, the following apartment projects have been launched in Town Square:

  1. Zahra Apartments
  2. Safi Apartments
  3. Jenna Town Square
  4. Warda Town Square
  5. Zahra Breeze Apartments
  6. Hayat Boulevard

Each of these buildings offers mainly 2 & 3 bedroom apartments of various sizes. There are a constant stream of inquiries for studio and one bedroom units in Town Square, however, each building only offers a handful of these unit types.

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FAQs

What is the process of purchasing?

As of March 2017, no townhouses are available for sale from the developer; however buyers can purchase from the secondary market in either the Zahra or Hayat phase.

As of March 2017, various options are available for buying apartments in different buildings within Town Square. Our representatives will be happy to assist you in this regard.

At the time of issuing the booking deposit, the buyer will also have to pay a 4% Oqood (Land Department Title Registration) Fee.

Is Town Square a good buying proposition?

For townhouses, Town Square remains pretty much the most affordable option in Dubai even when purchasing from the secondary market and paying premiums.

Apartment are a decent investment as well. First of all buyers should be aware that studio and one bedroom units are rarely available in this community - it is mainly geared towards 2 & 3 bedroom units.

There are various sizes and layouts in each of these buildings. As an example, 2 bedroom apartments can range in size between 800 - 1,200 sq. ft. Typically, starting prices for the smaller 2 bedroom units is from AED 850,000. This kind of purchase will give buyers a strong rental yield.

Through 2016, the developer introduced a new payment-plan for the apartment developments offering a 50:50 payment plan (i.e. 50% payable upon completion).

Ramadan 2017 Payment Plan across all apartments:

- 10% Down Payment

- 10% December 2017

- 80% Upon Handover

Project Completion Status (as per DLD): 73.33% (as of Oct 4, 2017)

Dubai Land Classification & Escrow Account Details:

Project: Town Square Hayat

Land Number: 34

Project Number: 1638

Real Estate Developer: NSHMI DEVELOPMENT

Trust Account Number: 00110629400019

Account Trustee Name: NOOR BANK

RERA Permit No : 15128

Brokerage Firm: Taktical Realty Group LLC

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Project Completion Status (as per DLD): 41.19% (as of Oct 4, 2017)

Dubai Land Classification & Escrow Account Details:

Project: Town Square Jenna & Warda

Land Number: 210

Project Number: 1677

Real Estate Developer: NSHMI DEVELOPMENT

Trust Account Number: 00110717970015

Account Trustee Name: NOOR BANK

RERA Permit No : 15128

Brokerage Firm: Taktical Realty Group LLC

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Project Completion Status (as per DLD): 78.52% (as of Oct 4, 2017)

Dubai Land Classification & Escrow Account Details:

Project: Town Square Zahra

Land Number: 33

Project Number: 1637

Real Estate Developer: NSHMI DEVELOPMENT

Trust Account Number: 00110628660014

Account Trustee Name: NOOR BANK

RERA Permit No : 15128

Brokerage Firm: Taktical Realty Group LLC

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Project Completion Status (as per DLD): 70.96% (as of Oct 4, 2017)

Dubai Land Classification & Escrow Account Details:

Project: Town Square Safi

Land Number: 17

Project Number: 1646

Real Estate Developer: NSHMI DEVELOPMENT

Trust Account Number: 00110651850011

Account Trustee Name: NOOR BANK

RERA Permit No : 15128

Brokerage Firm: Taktical Realty Group LLC

Positives of NSHAMA Town Square

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