UAE real estate company Aldar has announced its entry into the Sharjah marketplace with a megadeal.
Aldar has formally announced a $300 million (AED 1.1 billion) deal with Arada for three residential blocks in the emirate.
The three residential blocks will encompass 1,110 units across nine buildings, and will be based in Aljada, which is Sharjah’s flagship mixed-use master development.
This deal is part of broader $4 billion development partnership between Aldar and Arada.
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 that 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,” said Al Dhiyebi.
Ahmed Alkhoshaibi, Group Chief Executive Officer of Arada, said that the 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,” said Alkhoshaibi.
The transaction will add more than 1,100 units to Aldar’s portfolio, with the assets projected to be delivered by Arada in Q4 2029.
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 $9.5 billion (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.
