Leading UAE developer Aldar has announced the signing of an AED1.1 billion forward purchase agreement with Arada for three residential blocks comprising over 1,100 units across nine buildings in Aljada, Sharjah’s flagship mixed-use master development.
The transaction marks Aldar’s first real estate investment in the emirate and expands its develop-to-hold pipeline to AED21 billion, said a statement from Aldar.
Building on the recently announced AED 15 billion development partnership between Aldar and Arada, the transaction provides Aldar with access to Sharjah’s large and growing residential market through an established integrated community.
The investment also broadens Aldar’s geographic exposure while adding a high-quality residential opportunity with attractive long-term fundamentals.
On the strategic deal, Group CEO Talal Al Dhiyebi said: "Sharjah is a large and growing residential market, and Aljada provides an attractive entry point through one of the emirate’s leading master-planned communities."
"This investment is closely aligned with our develop-to-hold strategy, adding scale to our residential for rent portfolio while broadening our exposure to a new market. We are pleased to deepen our partnership with Arada through a transaction that combines strong strategic fit with attractive long-term fundamentals," he stated.
Arada Group CEO Ahmed Alkhoshaibi said: "This transaction is a strong vote of confidence in both Aljada and the Sharjah residential market more broadly. To have a developer of Aldar’s calibre and track record choose Aljada as its first investment in the emirate reflects the quality of what we have built here, and the scale of the opportunity that Sharjah represents."
"This investment marks another step in our growing partnership with Aldar, and we look forward to identifying further opportunities to work together across sectors," he added.
The transaction will add more than 1,100 units to Aldar’s portfolio, with the assets to be delivered by Arada in Q4 2029, supporting the continued growth and diversification of Aldar’s develop-to-hold platform. The nine buildings will cater primarily to end-users and long-term renters seeking quality housing at accessible price points within an established integrated community.
Aljada is a leading mixed-use master development in Sharjah, spanning 2.2 million sqm and expected to comprise approximately 25,000 residential units at full build-out, with an anticipated gross sales value of AED 35 billion. Residential handovers have been underway since 2021, with over 8,800 units delivered across multiple districts.
The community is supported by completed lifestyle, hospitality, education and retail infrastructure, including the Madar family entertainment district, two international schools, two hotels, the Nest student housing complex and more than 300,000 sq ft of occupied retail space.
