Gulf Construction Online - Arada launches student housing complex

Real Estate

Arada launches student housing complex

01 April 2019

Emirati developer Arada is introducing a new investment opportunity for Gulf investors with the launch of Nest, the country’s premier integrated student accommodation complex located at the heart of its record-breaking lifestyle megaproject, Aljada in Sharjah, UAE.

The move will enable individual real estate investors to purchase directly in the student housing segment in the Gulf for the first time, states the developer.

Located just 10 minutes’ walk from one of the Middle East’s fastest-growing education hubs, Sharjah’s University City, Nest offers superior facilities and amenities, all set within a smart technology-enabled space that sets a new standard for student housing in the region.

Spread over a 35,000-sq-m area on the University City side of Aljada, Nest features 10 five-storey buildings, all of which have been carefully designed with internal courtyards and spaces that provide meeting spaces for residents.

Each block contains a selection of studios and two-, four-, five- and eight-bed dormitories, alongside laundry rooms, shared TV rooms and study areas. Different parts of the community have been allocated to accommodate men and women.

Nest’s facilities include an art studio, a music hall, a library, a state-of-the-art running track that surrounds the complex, an amphitheatre and a central dining hall, while tenants will also be provided with access to male- and female-only swimming pools, gyms and study areas.

In total, there are 1,288 units and 2,600 bed spaces in the Nest complex, all of which will be delivered fully furnished and ready to let out. Leasing will be arranged by fully licensed onsite management teams, who will also oversee all facilities management and provide 24-hour security.

Arada says buyers in Nest will be rewarded with a guaranteed return on investment (ROI) of 10 per cent annually for five years after their units have been completed. Arada is planning to hand over the community by 2021-end.