Real estate developer Arada has announced the launch of Nest, an integrated student accommodation complex in the UAE, at the lifestyle megaproject Aljada.
The move will enable individual real estate investors to purchase directly in the student housing segment in the Gulf for the first time.
Located just 10 minutes’ walk from Sharjah’s University City, Nest offers latest facilities and amenities, all set within a smart technology-enabled space.
Covering 35,000m² on the University City side of Aljada, Nest features 10 five-storey buildings, which have been designed with internal courtyards and spaces that provide meeting spaces for residents.
Each block consists of a selection of studios and two-, four-, five- and eight-bed dormitories, alongside laundry rooms, shared TV rooms and study areas.
To ensure comfort and privacy for the tenants, different parts of the community have been allocated to accommodation for men and women.
Nest’s facilities include an art studio; music hall; library; modern running track surrounding the complex; amphitheatre; and central dining hall.
Tenants will also have access to male- and female-only swimming pools, gyms and study areas.
Arada intends to provide Nest residents with part-time employment opportunities at local retail and food and beverage outlets, in the complex and in Aljada.
The Nest complex consists of 1,288 units and 2,600 bed spaces, which will be delivered fully furnished and ready to let out.
Fully licensed onsite management teams will arrange the leasing and also oversee facilities management and provide 24-hour security.
Nest is the first purpose-built student accommodation in Sharjah and Arada plans to hand over the community by the end of 2021.
Aljada is located adjacent to University City, which includes University of Sharjah and American University of Sharjah (AUS).
The Nest complex is a 20-minute drive from Dubai International Academic City, the largest higher education free zone in the world.
Arada chairman Sheikh Sultan bin Ahmed Al Qasimi said: “Student accommodation is still a relatively new investment segment here in the Gulf and we’re happy to offer this opportunity in Sharjah for the first time.
“We believe student housing is an excellent and hassle-free way to diversify your real estate portfolio, and we hope that the stable and steady guaranteed returns on offer at Nest will be of significant interest to local and international investors.”
Image: Rendering of student accommodation Nest at Aljada, UAE. Photo: Courtesy of Arada Developments LLC.