Nshama

Developer overview

Nshama is a Dubai-based developer founded in 2014. Its flagship is Town Square, a master-planned community it launched in 2015, and its about page describes residential, commercial and mixed-use work centred on that single large site. The page also names Fred Durie as a key figure in the company.

Because so much of Nshama's output sits in one community, the developer's resale market is really the Town Square market. Buyers will meet a long list of building names that all share the same address, the same community facilities and, in many cases, similar layouts. The differences that matter come down to the individual building, its stage and the exact unit.

Portfolio and locations

• Town Square – Nshama's master community, which the developer describes as built around a central park with greenery, retail outlets, sports areas, cycling trails and a running track. See Town Square listings and the Town Square area guide.
• Apartment buildings – Nshama's website lists many apartment projects in Town Square, among them Ellison, The Baltimore, Lexington, Berkshire Park, Hillcrest, Savannah, Hayat Boulevard, Zahra Breeze, Rawda, Warda and Jenna.
• Townhouse clusters – names such as Sama, Naseem, Safi, Noor, Hayat, Zahra, Reem, Shams and Maha.
• Recent launches – the developer highlights newer releases including Evelyn, Rosewell, Fiori, Olbia, Camden, Alton, Augusta and Odessa.

DPF's current Nshama listing is a one-bedroom unit filed under "Solana Residences" in Town Square. That name does not appear on Nshama's project list, and a search of the developer's site found no match. Until the registered documents confirm otherwise, the link between this building and Nshama should be treated as unverified, and buyers should ask the seller for the Oqood to see which developer is named.

Property types

Town Square mixes apartment buildings with townhouse clusters. Apartments and townhouses appeal to different buyers and sit in different price bands, so they should never be benchmarked against each other. Nshama's homepage also mentions flexible payment plans on its launches, which means two owners in the same building may have very different balances left to pay. Because the community is large and still growing, the same bedroom count can come in a completed building with a long resale record or in a new launch still under construction. Compare a listing only with homes of the same type and stage. Position within the community counts too: distance to the central park, the retail areas and the main roads in and out of Town Square can all influence how a unit is valued, as can the floor and outlook in an apartment building.

What buyers should verify

1. Who the developer is. For any building not on Nshama's list, such as the "Solana Residences" in DPF's listing, confirm the developer named on the Oqood or title deed with the Dubai Land Department.
2. Building and unit. Town Square has dozens of similarly styled buildings; match the building name and unit number on the registered document to the listing.
3. Construction stage. For newer launches, check registered progress against the instalments already paid.
4. Money still owed. Ask for the developer's statement of account showing what is outstanding under the payment plan, including any post-handover instalments.
5. Community fees. For completed units, ask for the latest owners' association statement and confirm there are no arrears.

Finding distressed and below-market Nshama properties

With so many buildings in one community, Town Square has a steady flow of resale listings, and some come from owners under pressure. A seller may be relocating, refinancing or unwilling to fund the next instalment on an off-plan unit. That motivated seller may advertise an urgent sale, and if the figure is under the price in the original Nshama contract, the listing is described as below original price, or below OP. Below market value measures the figure against recent sales of similar homes in the same building or cluster.

For a unit still under construction, the deal is an off-plan resale, or assignment, and the buyer takes over the remaining payment plan. For a completed home, it is a standard secondary sale. In both cases, the developer's NOC is needed before the Dubai Land Department will register the transfer. Cash buyer deals avoid a mortgage valuation but still need every clearance. DPF collects listings so buyers can compare them; it does not set or verify asking prices.