Aldar Sharjah deal: AED1.1bn Aljada purchase from Arada

Aldar Properties has agreed its first Aldar Sharjah deal, a forward purchase of nine residential buildings in Arada’s Aljada master development for AED1.1 billion ($300 million), the two developers said on 15 October.

The agreement covers three residential blocks with more than 1,100 homes. Arada will build and deliver the buildings, with handover scheduled for the fourth quarter of 2029, according to a statement from the Sharjah developer.

The transaction marks the Abu Dhabi-listed developer’s first real estate investment in Sharjah and takes its develop-to-hold pipeline across all sectors to AED21 billion ($5.7 billion). The units will be added to Aldar’s residential-for-rent portfolio rather than sold off-plan.

What the Aldar Sharjah deal includes

Under the forward purchase structure, Aldar commits to acquiring the completed assets at an agreed price while Arada carries out construction. The companies said the homes are aimed mainly at end-users and long-term tenants looking for accessible-priced housing in an established community.

Talal Al Dhiyebi, Group Chief Executive Officer of Aldar, said Aljada “provides an attractive entry point” into Sharjah, which he described as a large and growing residential market. He added that the investment fits the group’s develop-to-hold strategy, which focuses on income-producing assets held over the long term.

Ahmed Alkhoshaibi, Group Chief Executive Officer of Arada, called the transaction “a strong vote of confidence” in Aljada and the wider Sharjah residential market. Both executives said the companies would continue to look for further opportunities to work together.

A deepening Aldar–Arada partnership

The Sharjah purchase follows a AED15 billion ($4.1 billion) development partnership between the two groups announced in September. That agreement, which covers projects in Abu Dhabi, gave Arada its first foothold in the capital, including a mixed-use community at Seih Sdeirah on the Abu Dhabi–Dubai border and three residential plots on Yas Island, The National reported.

The latest deal reverses the flow, bringing Aldar into Arada’s home market. Arada is a joint venture between KBW Investments, controlled by Prince Khaled bin Alwaleed, and Sharjah-based Basma Group, and has expanded into the UK, Australia and Syria in recent years.

Aljada is Arada’s flagship project and is described by the developer as Sharjah’s flagship mixed-use master development. It spans 2.2 million square metres near Sheikh Mohammed bin Zayed Road and Al Dhaid Road, about seven minutes from Sharjah International Airport and 20 minutes from Dubai International Airport.

At full build-out the community is expected to contain around 25,000 homes with an anticipated gross sales value of AED35 billion ($9.5 billion). Handovers began in 2021 and more than 8,800 units have been delivered so far, according to Arada. Existing amenities include the Madar family entertainment district, two international schools, two hotels, the Nest student housing complex and more than 300,000 square feet of occupied retail space, with the Arada Central Business District and Madar Mall still to come.

Why the Aldar Sharjah deal matters for investors

For Aldar, the purchase extends a strategy of building a rental income base alongside its off-plan sales business, and it does so outside its traditional Abu Dhabi heartland. The company expects to hand over more than 3,000 units this year, its largest volume since launch, rising to 4,500 units in 2027, Aldar Development chief executive Jonathan Emery told The National. Aldar also plans to launch a villa and townhouse development in Dubai near Dubai Silicon Oasis before the end of 2026.

For Sharjah, the arrival of Abu Dhabi’s largest listed developer as a long-term landlord signals growing institutional interest in an emirate that has traditionally drawn end-users and smaller investors priced out of Dubai and Abu Dhabi. Forward purchases of entire blocks also give Arada visibility on sales and construction funding for a project it aims to complete by 2028.

The deal lands at a time when the UAE property market has held up despite regional uncertainty linked to the conflict involving Iran. Arada’s UAE Property Investment Index, compiled by US-based Penta Group, found that 56 per cent of global investors surveyed had serious interest in UAE property, The National reported. Readers can follow other regional property developments in our coverage of luxury real estate developments in Dubai and the latest Outlook Middle East news section.

What happens next

Construction of the three blocks will proceed under Arada, with Aldar taking ownership on completion in the fourth quarter of 2029. The companies did not disclose payment milestones, expected rental yields or the exact location of the buildings within Aljada.

Both groups said they intend to pursue further joint opportunities across sectors under their strategic partnership. The full announcement is available on Arada’s newsroom.