UAE developer Arada launches $6.5bn megaproject in Sharjah

UAE developer Arada launches $6.5bn megaproject in Sharjah
Arada is a partnership enterprise between KBW Investments and Basma Group

Arada has launched what is set to become Sharjah’s largest ever real estate development.

Occupying an area of 2.2 sq km, the Aljada urban district will boast a gross real estate value of $6.5bn (AED24bn) and a total population of approximately 70,000 people.

Unveiled in the presence of Sheikh Dr Sultan bin Muhammad Al Qasimi, Ruler of Sharjah, the master-planned megaproject will feature a diverse array of residential, commercial, retail, leisure, and entertainment offerings, as well as a dedicated business park.

Upon completion, the development will include a combination of stand-alone and semi-detached villas, townhouses, lofts, and apartments. Its residential units will be complemented by open spaces and community amenities, including schools, healthcare clinics, and mosques.

UAE-headquartered real estate developer, Arada, was jointly established in January 2017 through a partnership enterprise between KBW Investments and Basma Group. Aljada represents the firm’s second development, following the launch of Sharjah’s $408m (AED1.5bn) Nasma Residences in March.

Commenting on Aljada’s launch, Sheikh Sultan bin Ahmed Al Qasimi, chairman of Arada and Basma Group, said: “We want to offer residents and investors upscale living experiences that are currently unavailable in the market, and ensure a better life for everyone who visits, lives, or works in Aljada.

“We are confident that this development will raise interest in Sharjah even further, while strengthening its position as a secure and sought-after investment destination.”

Prince Khaled bin Alwaleed bin Talal, vice chairman of Arada and founder of KBW Investments, added: “Aljada is a project that stays true to its roots; it embodies the heritage of the city that lies around it, while looking forward to Sharjah’s future. With design elements that draw inspiration from Sharjah’s oldest neighbourhoods, to environmentally friendly building standards, Aljada really does represent the best of both worlds.”

The development’s master plan, which was designed by Woods Bagot in close collaboration with Sharjah Urban Planning Council, has been designed with walkability and green spaces in mind.

The Central Hub, Aljada’s entertainment and leisure precinct, will feature an urban piazza replete with cafés and restaurants, and a musical fountain display as its centrepiece. Other attractions will include skate parks, an extreme sports centre, and the largest children’s adventure and discovery complex in the Northern Emirates.

Boasting direct access to Al Dhaid Road and easy access to Sheikh Mohammed bin Zayed Road, Aljada is adjacent to the emirate’s University City. It is located just five minutes’ drive from Sharjah International Airport and the Sharjah Airport International Free Zone (SAIF Zone).

The district’s multiple access points and general road widths will serve to ease congestion, according to its developer.

Sheikh Khalid bin Sultan bin Muhammad Al Qasimi, chairman of Sharjah Urban Planning Council, said: “Elevating the standards of development in the Emirate of Sharjah by working closely with the Sharjah Urban Planning Council, Aljada will be distinguished by its superior architectural design and unparalleled quality of public realm, incorporating best international design practices.

“Master-planned with a focus on enhanced urban spaces, the design-led Aljada lifestyle experience integrates living, working, and entertainment, all curated for a vibrant, tightly knit community.”

With construction activities scheduled to commence in Q1 2018, Aljada will be delivered in 10 phases starting in 2019. The entire project is expected to complete by 2025.

Arada is looking to meet with prospective buyers during Cityscape Global 2017, which will take place at Dubai World Trade Centre (DWTC) from September 11-13.

Interested parties can also visit the developer’s sales centre, which is located in Radisson Blu Sharjah’s Badriyah Ballroom.

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