Abu Dhabi-based Aldar expands into Sharjah through a Dh1.1 billion acquisition deal with Arada.

Aldar to acquire over 1,100 homes in Aljada, with handover scheduled for 2029.

Abu Dhabi: Aldar Properties is set to make its debut in Sharjah’s real estate market after signing a Dh1.1 billion agreement with Arada to acquire nine residential buildings within the Aljada development.

The forward purchase deal includes three residential blocks featuring more than 1,100 homes, with completion and handover expected in the fourth quarter of 2029.

The acquisition will increase Aldar’s develop-to-hold portfolio pipeline to Dh21 billion, supporting the company’s strategy to expand its portfolio of income-generating residential properties.

Aldar expands into Sharjah

The agreement marks Aldar’s first property investment in Sharjah, establishing its presence in the emirate through Aljada, Arada’s flagship mixed-use community.

The acquisition also strengthens the strategic relationship between the two UAE developers, following their recently announced Dh15 billion development partnership.

Talal Al Dhiyebi, Group Chief Executive of Aldar, highlighted Sharjah’s expanding residential property market, describing Aljada as a promising opportunity for the company to establish its presence in the emirate.

“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,” Al Dhiyebi said.

He further emphasised that the acquisition offers “strong strategic fit with attractive long-term fundamentals”, supporting Aldar’s efforts to diversify its residential property holdings and expand beyond its existing markets.

More than 1,100 residential units

The acquisition of nine residential buildings will bring over 1,100 additional homes into Aldar’s growing property portfolio.

Arada is scheduled to complete and hand over the buildings in the fourth quarter of 2029. The residential units are expected to appeal to homebuyers and long-term tenants seeking affordable housing options within a well-established, master-planned community.

Ahmed Alkhoshaibi, Group Chief Executive of Arada, welcomed the agreement, calling it a “strong vote of confidence” in both Aljada and Sharjah’s growing property sector.

“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,” Alkhoshaibi said.

He added that the transaction represents another milestone in the strengthening relationship between Aldar and Arada, with both developers expected to explore further opportunities for collaboration across various sectors.

Aljada continues to expand

Spread across 2.2 million square metres, Aljada is one of Sharjah’s major mixed-use developments. According to Arada, the master-planned community is expected to feature approximately 25,000 residential units upon completion, with a projected gross sales value of Dh35 billion.

Since residential handovers began in 2021, more than 8,800 homes have been delivered across different neighbourhoods within the development.

Aljada has also witnessed significant growth in its lifestyle and community infrastructure. Key facilities include the Madar family entertainment destination, two international schools, two hotels, the Nest student accommodation complex, and over 300,000 square feet of occupied retail space.

The acquisition allows Aldar to invest in an established residential destination with existing amenities and infrastructure, rather than entering a project that is still in its initial planning phase.

Strategic location offers easy access to Dubai

Aljada benefits from its proximity to major transport routes, including Sheikh Mohammed bin Zayed Road and Al Dhaid Road, providing convenient connectivity to Sharjah and neighbouring Dubai.

According to Arada, the development is approximately seven minutes from Sharjah International Airport and around 20 minutes from Dubai International Airport.

The community is also set for further expansion, with upcoming projects such as the Arada Central Business District and Madar Mall expected to introduce additional office spaces, shopping destinations, entertainment venues and leisure attractions.

The Dh1.1 billion transaction highlights growing interest from major UAE developers in Sharjah’s residential property sector, as the emirate continues to attract investment.

For Aldar, the acquisition strengthens its develop-to-hold strategy by expanding its rental housing portfolio while establishing a presence in a new property market.

Both Aldar and Arada have expressed their intention to identify additional investment and development opportunities as part of their broader strategic partnership.