Aldar and Arada announced a Dhs1.1 billion forward purchase deal on Thursday for three residential blocks with more than 1,100 apartments spread across nine towers in Aljada, Sharjah’s premier mixed-use master complex. The deal increases Aldar’s develop-to-hold pipeline to Dhs21 billion and is the company’s first real estate investment in the emirate. The deal will increase Aldar’s portfolio by more than 1,100 units; Arada will deliver the assets in Q4 2029.
The deal gives Aldar access to Sharjah’s sizable and expanding residential market through an established integrated community, building on the previously announced Dhs15 billion development cooperation between Aldar and Arada. In addition to offering a superior residential opportunity with appealing long-term fundamentals, the transaction increases Aldar’s geographic exposure.
In keeping with its “develop-and-hold” approach, Talal Al Dhiyebi, Aldar’s Group Chief Executive Officer, said the investment in Aljada marks the group’s entry into Sharjah’s residential market and broadens its rental portfolio. Aldar is eager to deepen its collaboration with Arada, he continued.
“This transaction is a strong vote of confidence in both Aljada and the Sharjah residential market more broadly,” said Ahmed Alkhoshaibi, Arada Group CEO. This investment marks a new phase in our expanding collaboration with Aldar, and we look forward to more opportunities to work together across industries.
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