Aldar Expands Into Sharjah With AED1.1 Billion Aljada Residential Investment
The Abu Dhabi real estate developer has completed a landmark forward purchase agreement for over 1,100 units across nine buildings in Sharjah's integrated master community, marking its inaugural investment in the emirate.
Aldar has announced a transformative AED1.1 billion forward purchase agreement with Arada, securing three residential blocks comprising more than 1,100 units distributed across nine buildings within Aljada, Sharjah’s distinguished mixed-use master development. This represents a significant milestone, marking Aldar’s inaugural real estate investment in Sharjah and substantially expanding its develop-to-hold pipeline to AED21 billion.
The acquisition reflects Aldar’s strategic pivot towards geographic diversification whilst maintaining its commitment to high-calibre residential opportunities with compelling long-term value propositions. The residential units are anticipated for delivery by Arada during the fourth quarter of 2029, providing Aldar with an extended development horizon and substantial rental revenue potential.
This transaction builds upon the recently crystallised AED15 billion development partnership between Aldar and Arada, establishing a foundation for collaborative ventures within Sharjah’s expanding residential landscape. By securing access to an established integrated community, Aldar gains entry to a burgeoning residential market whilst leveraging the existing infrastructure and community amenities already operational within Aljada.
Talal Al Dhiyebi, Group Chief Executive Officer of Aldar, articulated the strategic significance of this investment, emphasising that the Aljada acquisition represents the group’s formal entry into Sharjah’s residential market and exemplifies its “develop-and-hold” strategy. He expressed optimism regarding the deepening partnership with Arada and anticipated further collaborative opportunities.
Ahmed Alkhoshaibi, Group Chief Executive Officer of Arada, characterised the transaction as a substantial endorsement of both Aljada’s exceptional positioning and the broader Sharjah residential market. He underscored the strengthening partnership between the two entities and highlighted the potential for identifying additional collaborative ventures across multiple sectors.
Aljada itself represents a comprehensive urban development endeavour, spanning 2.2 million square metres and anticipated to comprise approximately 25,000 residential units upon completion, with an estimated gross sales value reaching AED35 billion. Residential handovers have been progressing since 2021, with more than 8,800 units already delivered across multiple districts.
The community benefits from a comprehensive infrastructure portfolio, encompassing the Madar family entertainment district, two internationally-recognised schools, two hotels, the Nest student housing complex and more than 300,000 square feet of operational retail space. Strategic positioning affords residents seamless connectivity, situated within seven minutes of Sharjah International Airport and approximately 20 minutes from Dubai International Airport, with direct access via Sheikh Mohamed bin Zayed Road and Al Dhaid Road.
Source: WAM