Nshama - Does Emaar have a new competitor?

Nshama is one of the latest entrants in the real estate business in Dubai. The company was launched in September 2014 and in a matter of less than one year, it has already made a name for itself by launching one of the most talked about projects in Dubai.

Nshama is being led by Fred Durie who is a top real estate veteran in the UAE. He has been working in the UAE real estate sector since 1986 and has also served as CEO of one of the biggest and most prestigious real estate developers in the region – Emaar. His first stint in Dubai including working as a Civil Engineer in the Dubai Municipality for about 15 years.

Abubakr Sidahmed, the Chief Operating Officer of Nshama, also brings along a wealth of experience having worked with Emaar previously. He was involved in the development of Emirates Living and the Arabian Ranches. The Chief Financial Officer, Raghuraj Balakrishna has also served in the same capacity at Emaar earlier.

Nshama’s vision includes the development of self-sufficient and greener communities (which include everything from parks and gardens, gyms, play areas, malls, retail stores, restaurants and cafes and at the same time are eco-friendly and energy-efficient).

Nshama’s first project is the Town Square master-development which will be a huge gated residential community including over 18,000 apartments and 3,000 townhouses upon completion. The project will be located on the Al Qudra road extension next to Emaar’s gated community – Reem and Damac’s Akoya Oxygen.

Town Square has included the launch of two townhouse and two apartment sub-communities wherein homes were launched at affordable prices. Townhouses start from AED 999,988 in Zahra and Hayat sub-communities and apartments start at AED 349,988 (studio), AED 499,988 (1-bedroom), AED 699,988 (2-bedroom) and AED 999,988 (3-bedroom) in Zahra and Safi.

Nshama has already signed a deal with Reel Cinemas to be a part of Town Square and has also announced that a luxury hotel, named Vida will come up in the community.