Dubai developer Nshama announced that it has awarded the first phase deep services contract for its upcoming Town Square project to Saudi-based Binladin Contracting Group.
The size of the contract, the first to be awarded for the mega 31 million sq ft project, was not disclosed.
The agreement – to be executed in 180 days – covers excavation and back filling for district cooling piping network, storm drainage and main sewers, across the area that includes the recently launched Zahra and Hayat Townhouse communities, a statement said.
The deal will ensure “on-schedule” delivery of the first phase residential communities within Town Square, Nshama added.
Launched in February 2014, Town Square 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.
As part of its first phase, Nshama has launched townhouses in Zahra and Hayat communities, starting at around Dhs1 million for three-bedroom homes. It has also unveiled around 306 apartments in Zahra, including studios, one-bedroom, two-bedroom and three-bedroom units, with prices starting at Dhs349, 988.
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.
Amenities include day-care facilities, playgrounds, play zones, swimming pools, fitness centre, athletic spa, skate parks, playgrounds, adventure zones, medical facilities and splash parks.
Fred Durie, CEO of Nshama, said: “Town Square…enables people to shift from a rental model to an own-home lifestyle through thoughtfully designed residences that come at affordable price points.
“We are committed to delivering the projects as per schedule, highlighted by the contract awarded for undertaking deep services.”
Established 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.
It is also working on another lifestyle project in a joint venture with Mohammed bin Rashid foundation (MBRF), but details about the development haven’t been revealed so far.