Arada Group’s projects have exceeded the AED 60 billion mark, according to Ahmed Alkhoshaibi, CEO of the group, confirming that the group has launched six residential projects in Sharjah and Dubai since 2017, including Aljada, the largest mixed-use project in Sharjah, with sales valued at AED 35 billion, Masar project with sales valued at AED 9.5 billion, Nasma project with sales valued at AED 1.5 billion, Jouri Hills project in Dubai with sales valued at AED 2.26 billion, Armani Beach Residences project in Palm Jumeirah in Dubai with sales valued at AED 3.2 billion, Anantara Sharjah Residences and Anantara Sharjah Resort with sales valued at AED 530 million.
Al-Khushaibi said that Arada will launch two new projects in the Emirate of Dubai before the end of this year at a total cost of more than 8 billion dirhams, including luxury branded residences in “Dubai Harbour”, one of the most exciting waterfronts in Dubai, in addition to launching a project on a plot of land acquired by the company in the Zabeel 2 area next to the Dubai International Financial Centre in early 2024.
The Sales
Al Khashabi added that Arada has sold 14,000 residential units across its various projects, worth more than AED 17 billion, and 9,000 of them have been completed. The highest percentage of buyers in the company’s projects since its launch in 2017 were from the UAE, followed by India, Pakistan, Egypt, and Saudi Arabia. The top ten list also included the UK, Canada, and Jordan.
Al Khashabi added that Arada has completed more than 7,500 homes in Aljada to date, with more than 2,000 homes under construction, with nearly 30% of the planned 25,000 residential units now complete. An exceptional range of amenities have also been completed within the complex, including SABIS International School – Aljada, and the first two phases of the Madar family entertainment complex, which includes the Wellfit Fitness Centre, Bounce Trampoline Hall, Zad Food Court and Skate Park.
Masar Project
As for the Masar project, Arada recently awarded construction contracts for the last two phases of the project, and the entire project, which includes 3,000 villas and townhouses, is expected to be completed by the end of 2026. The first phase, which includes 430 homes, has been delivered, and the second and third phases will be delivered in the coming months. The company has also completed a number of other facilities in the project, including the Masar Discovery Centre and a range of family entertainment facilities that include an adventure area for children, a water play area, a skating rink, a second branch of the Zad Restaurant Corner, the Masar Track, a continuous, dedicated cycling track with a length of 6.6 km, a range of bridges and tunnels, and The Loop, an on-site centre specialising in bike rental and maintenance services, in addition to a café and lounge.
As for Nasma Residences, all phases were completed and delivered during 2022, and this community has now become one of the most popular residential destinations in the Emirate of Sharjah.
Our fourth project in Sharjah, Anantara Sharjah Resort and Anantara Sharjah Residences, launched in May in partnership with Minor Hotels, will feature the emirate’s first luxury branded beachfront residential experience. The project will comprise 128 luxury residences, including four-bedroom, two-storey penthouses. The residential units are located on Al Heera Beach. Facilities and services for new owners include a private beach and jetty, swimming pools, beach areas and fitness facilities.
Construction Contracts
As for the total number of construction contracts expected to be awarded this year, Al Khashabi said: “As for the Masar project, we have awarded contracts worth more than AED 2 billion this year, which have made significant strides in the programme to develop the first modern community within a green forest in the UAE.
Two contracts worth AED 615 million were awarded in April to build 565 homes in the Azalea neighbourhood, which represents the fourth phase of Masar, and these contracts were assigned to Saleh Construction and Yanal Building Contracting. Last June, we awarded contracts worth AED 1.48 billion to build 1,025 homes in Sequoia and Saro, which represent the last two phases of the Masar community, to Pivot Engineering and General Contracting and Intermass Engineering and Contracting, both based in Sharjah.
“At Aljada, we are targeting further major contracts, including the construction of Arada’s Central Business District, which will comprise a total of 812,000 sq ft of Class A and B leasable commercial space across eight contemporary buildings. Arada’s Central Business District will soon emerge as Sharjah’s new commercial heart, meeting the growing future demand for office space in the UAE and beyond. We are also targeting the award of the main contract for Madar Mall in 2024, which will increase the leasable area in the Madar complex alone to 1.2 million sq ft. We are also planning to award the contract for Teatro, a performing arts venue at the heart of Aljada’s creative district, designed by world-renowned Japanese architect Tadao Ando.”
Right of Ownership
Al Khashabi confirmed that “Arada” has attracted huge investments in Sharjah since the right to full ownership was granted to citizens from outside the Gulf Cooperation Council countries in November 2022. It is currently witnessing great demand from a diverse group of investors and residents wishing to buy homes in our communities.
Commercial Spaces
Al Khashabi pointed out that the company has expanded the East Boulevard area in Aljada by 80%, extending to an area of 130,000 square feet of leasable space with 87 outlets. This commercial street welcomed about 2.4 million visitors during 2023. The influx of many new restaurants and brands in “East Boulevard”, in addition to the recent completions in the “East Village” and “Nest” communities, has made it one of the most important vibrant social centers in the Emirates.
In Aljada, we are in the process of awarding the main contract for the construction of Madar Mall before the end of this year, which will increase the leasable area in the Madar complex area to 1.2 million square feet.
As for Nasma Residences, Nasma Central spans 55,000 square feet and is designed to cater to the daily needs of residents in the community and visitors from the surrounding areas of Al Suyoh, with its retail, cafés and service facilities. This modern shopping destination has been a popular choice since its opening in 2021, supported by the park overlooking it, which has contributed to the creation of semi-open public spaces that enhance the experience of shoppers and visitors.
The company also plans to launch “Masar Central” in the coming period, which is a community center for shopping and food and beverage services in the Masar community, in addition to a similar center in the Jouri Hills community in Jumeirah Golf Estates.
Al Khashabi explained that Arada’s projects include the Jouri Hills project in Jumeirah Golf Estates, for which construction contracts were awarded last October, with 294 residential units including country houses, villas and luxury palaces. Construction work has begun after construction contracts worth AED 700 million were awarded, with construction expected to be completed in mid-2025.
As for the Armani Beach Residences project in Palm Jumeirah, where the 53 homes, valued at AED 8,000 per square foot, have received great demand from buyers and investors, the Armani Beach Residences project in Palm Jumeirah is expected to be completed by the end of 2026.