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Aldar said in a statement that it signed a forward purchase agreement with Arada for three residential blocks comprising nine buildings and more than 1,100 units in the Aljada master development. The transaction, valued at Dh1.1 billion, represents the Abu Dhabi developer’s first real estate investment in Sharjah and is scheduled for delivery in the fourth quarter of 2029. It expands Aldar’s develop-to-hold pipeline to Dh21 billion while adding to its portfolio of income-generating residential assets. The deal follows a Dh15 billion strategic partnership announced last month between the two companies that includes joint development projects across the UAE.
Talal Al Dhiyebi, group chief executive officer of Aldar, said in the statement that Sharjah is a large and growing residential market. He noted that Aljada provides an attractive entry point through one of the emirate’s leading master-planned communities. “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. “We are pleased to deepen our partnership with Arada through a transaction that combines strong strategic fit with attractive long-term fundamentals.”
Ahmed Alkhoshaibi, group chief executive officer of Arada, said the transaction reflected confidence in both Aljada and Sharjah’s wider residential property market. “This transaction is a strong vote of confidence in both Aljada and the Sharjah residential market more broadly,” Alkhoshaibi said according to the statement. “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.” Both companies said they would continue to explore opportunities under their wider strategic partnership.
Arada’s project information shows that Aljada spans 2.2 million square metres and is expected to comprise approximately 25,000 residential units when fully built out, with an anticipated gross sales value of Dh35 billion. Residential handovers at the development have been under way since 2021, with more than 8,800 units delivered across several districts. The mixed-use community includes the Madar family entertainment district, two international schools, two hotels, student housing and more than 300,000 square feet of occupied retail space, along with ongoing projects such as a central business district and mall.
The acquisition aligns with Aldar’s broader strategy to diversify its holdings beyond Abu Dhabi as the company grows its recurring revenue from rental properties. According to earlier company reports, Aldar’s residential investment portfolio maintained occupancy rates near 96 percent through the first half of 2026 while expanding through multiple develop-to-hold initiatives. This entry into Sharjah adds a new geographic dimension to that effort through an established master-planned community with proven demand.
The forward purchase structure enables Aldar to secure the completed assets for its rental portfolio once Arada finishes construction, targeting residents seeking quality housing in integrated communities. Aldar, one of the UAE’s largest listed developers, has increasingly focused on building scale in its investment properties division to support stable long-term earnings. The partnership with Arada underscores growing collaboration among major UAE developers to meet demand across multiple emirates.
