Aldar acquires nine residential buildings in Sharjah for Dhs1.1 billion

Aldar on Thursday announced an Dhs1.1 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 Dhs21 billion. The transaction will add more than 1,100 units to Aldar’s portfolio, with the assets to be delivered by Arada in Q4 2029.

Building on the recently announced Dhs15 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.

Talal Al Dhiyebi, Group Chief Executive Officer of Aldar, said the investment in Aljada marks the group's entry into Sharjah's residential market and expands its portfolio of rental properties, in line with its "develop-and-hold" strategy. He added that Aldar looks forward to further strengthening its partnership with Arada.

Ahmed Alkhoshaibi, Group Chief Executive Officer of Arada, said: “This transaction is a strong vote of confidence in both Aljada and the Sharjah residential market more broadly. This investment marks another step in our growing partnership with Aldar, and we look forward to identifying further opportunities to work together across sectors.”

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 Dhs35 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.

The community is within easy reach of Sheikh Mohamed Bin Zayed Road and Al Dhaid Road, seven minutes from Sharjah International Airport and around 20 minutes from Dubai International Airport, providing strong connectivity to both Sharjah and Dubai.

WAM