Aldar Enters Sharjah With Dh1.1 Billion Aljada Purchase of Nine Buildings From Arada

Aldar Properties agreed to buy nine residential buildings in Sharjah's Aljada development from Arada for Dh1.1 billion, the company's first real estate investment in the emirate. Gulf News reported the forward purchase agreement covers more than 1,100 units, with delivery scheduled for the fourth quarter of 2029. The details were reported by GulfNews.

Aldar's First Sharjah Purchase From Arada

The forward purchase agreement covers three residential blocks comprising more than 1,100 units. The deal expands Aldar's develop-to-hold pipeline to Dh21 billion as the developer increases its exposure to income-generating residential assets. It follows a recently announced Dh15 billion development partnership between the two companies and deepens an existing relationship between Aldar and Arada.

Talal Al Dhiyebi, group chief executive of Aldar, said Sharjah was a "large and growing residential market" and that Aljada offered an attractive entry point. "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 added that the deal combined "strong strategic fit with attractive long-term fundamentals".

Ahmed Alkhoshaibi, group chief executive of Arada, described the transaction as a "strong vote of confidence" in Aljada and the wider Sharjah residential market. "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 said the deal marked another step in the companies' growing partnership, adding that they would look for further opportunities to work together across sectors.

Aljada spans 2.2 million square metres and is expected to contain about 25,000 homes when fully built, with an anticipated gross sales value of Dh35 billion, according to Arada. Residential handovers have been under way since 2021, with more than 8,800 units delivered across several districts. The development includes 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.

Aldar's Rental Housing Pipeline

According to akta.pro company records, Aldar and Abu Dhabi's Department of Municipalities and Transport formed a strategic partnership in April 2026 to deliver 9,000 affordable rental homes under the department's Value Housing Programme, with a gross development value of AED 2.8 billion and completion targeted for 2029. The same records show Aldar closed a AED 5 billion five-year syndicated sustainability-linked revolving credit facility with 10 banks in April 2026, following a AED 9 billion debut sustainability-linked facility in January 2025, lifting total available liquidity to AED 38.2 billion.

Aldar and Arada's Earlier Partnership

In September 2026, Aldar and Arada formed a joint venture with a 15 billion dirhams development pipeline for Abu Dhabi, marking Arada's first development in the emirate, Zawya reported. Earlier that month, Gulf News reported that Aldar and Mubadala's joint venture acquired Masdar City Square for Dh918 million, a seven-building complex that is 99% occupied, lifting the JV's Masdar City portfolio to Dh4.7 billion.

Aljada Delivery Timeline

Arada will deliver the nine buildings in the fourth quarter of 2029. Both companies said they would continue to explore opportunities under their wider strategic partnership.