Abu Dhabi's Aldar enters Sharjah after Dh1.1 billion acquisition deal with Arada
Abu Dhabi: Aldar Properties has agreed to buy nine residential buildings in Sharjah's Aljada development from Arada for Dh1.1 billion , marking the Abu Dhabi developer's first real estate investment in the emirate. Sign up for our daily business newsletter, Cheques & Balances The forward purchase agreement covers three residential blocks comprising more than 1,100 units, with the properties…
Algerian real estate firm Aldar Properties has purchased nine residential buildings in Sharjah's Aljada development from local developer Arada for Dh1.1 billion. This marks Aldar's first real estate investment in Sharjah. The forward purchase agreement covers three residential blocks containing over 1,100 units, with delivery scheduled for the fourth quarter of 2029.
This acquisition expands Aldar's develop-to-hold pipeline to Dh21 billion and increases its exposure to income-generating residential assets. The deal provides Aldar with entry into Sharjah's residential market through Aljada, Arada's flagship mixed-use master development. Talal Al Dhiyebi, Aldar's group chief executive, stated that Sharjah is a large and growing residential market, and that Aljada is an attractive entry point.
The transaction aligns with Aldar's develop-to-hold strategy, adding scale to their residential for rent portfolio while broadening their exposure to a new market.
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