Aldar and Arada sign Dh15bn partnership for new developments in Abu Dhabi

Aldar, Abu Dhabi's largest listed developer, has formed a partnership with Sharjah-based Arada to develop new housing projects on Yas Island and at Seih Sdeirah, with a combined value of approximately Dh15 billion ($4 billion). The collaboration involves a masterplan joint venture to establish a large-scale mixed-use community at Seih Sdeirah on the Abu Dhabi-Dubai border, as well as the acquisition by Arada of three residential plots on Yas Island.

The new developments signify Arada's entry into the Abu Dhabi market as it continues to expand its presence in the UAE. Talal Al Dhiyebi, group chief executive of Aldar, expressed optimism about the partnership, stating that the opportunities on Yas Island and at Seih Sdeirah have created a strong foundation for their collaboration. He added that they see significant potential to expand the partnership across sectors and geographies within the UAE.

At Seih Sdeirah, Aldar and Arada plan to construct a mixed-use community spanning up to 1.5 million square meters of land. The development will consist of villas and townhouses, along with retail and recreational amenities. Arada will take the lead in development and construction management, while Aldar and Arada will jointly oversee the branding and sales of the community. On Yas Island, Arada has secured three plots, including two canal-facing sites, with a combined plot area exceeding 27,500 square meters.