Abu Dhabi-based Aldar Properties has agreed to acquire nine residential buildings in Arada’s Aljada master development for AED 1.1 billion, its first real estate investment in Sharjah.
The forward purchase agreement covers more than 1,100 units, with Arada scheduled to deliver the assets in the fourth quarter of 2029. The deal lifts Aldar’s develop-to-hold pipeline to AED 21 billion as the developer scales its residential-for-rent portfolio, targeting end-users and long-term tenants.
It follows the AED 15 billion partnership the two firms signed in late September covering Yas Island plots and a joint masterplan at Seih Sdeirah. Spanning 2.2 million square metres, Aljada is planned to hold about 25,000 homes at an anticipated gross sales value of AED 35 billion. More than 8,800 units have been handed over since 2021, alongside the Madar entertainment district, two international schools, two hotels and over 300,000 square feet of occupied retail space.
Gulf Economist Staff Writer