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

Aldar, the largest listed developer in Abu Dhabi, has joined forces with Arada, a Sharjah-based company, to develop new housing projects on Yas Island and Seih Sdeirah, with a combined value of approximately Dh15 billion ($4 billion). The partnership includes a masterplan joint venture to create a large-scale mixed-use community at Seih Sdeirah, situated on the Abu Dhabi-Dubai border, as well as Arada's acquisition of three residential plots on Yas Island. This marks Arada's entry into Abu Dhabi as it continues its expansion across the UAE.

Talal Al Dhiyebi, group chief executive of Aldar, expressed optimism about the collaboration, stating that the opportunities on Yas Island and at Seih Sdeirah establish a strong foundation for their partnership. Aldar sees significant potential to expand the collaboration across sectors and geographies within the UAE. At Seih Sdeirah, the joint venture will develop a mixed-use community covering up to 1.5 million square meters of land.

This community will feature villas, townhouses, as well as retail and recreational amenities. Arada will take the lead in development and construction management, while Aldar and Arada will work together to brand and sell the community. On Yas Island, Arada has acquired two canal-facing sites, with a combined plot area of more than 27,500 square meters.