Aldar Group Enters Sharjah With AED 1.1 Billion Forward Purchase of Nine Arada Buildings in Aljada
Aldar Group announced on Oct. 15, 2026, that it has signed a AED 1.1 billion forward-purchase agreement with Arada to acquire three residential complexes comprising nine buildings and more than 1,100 units in Aljada, a mixed-use master development in Sharjah. The transaction is Aldar's first real estate investment in the emirate and raises the value of its develop-and-hold portfolio across multiple asset classes to AED 21 billion, the group said.
Arada will construct and deliver the buildings, with completion scheduled for the fourth quarter of 2029. The AED 1.1 billion price is approximately US$299.5 million.
Aldar Group and Arada Deal Terms
Under the agreement, Aldar Group will acquire the three residential complexes, spread across nine buildings, once Arada completes them. The buildings are expected to provide homes primarily for end-users and long-term renters, with housing at accessible price points within an established, integrated community, according to the announcement.
Dividing the purchase price by the 1,100-unit minimum implies roughly AED 1 million per unit. That figure is indicative only, as the final unit count may be higher than 1,100.
The transaction follows the AED 15 billion strategic partnership recently announced by Aldar and Arada. The two companies said they continue to explore opportunities that draw on their combined capabilities and expertise to support business growth and long-term value creation.
Executives Comment on Sharjah Market Entry
Talal Al Dhiyebi, group chief executive officer of Aldar, said: “Sharjah is a large residential market that continues to grow, and investing in Aljada gives us a distinctive opportunity to enter this market through one of the emirate's leading, carefully planned integrated communities. This investment is directly aligned with Aldar's develop-and-hold strategy, as it strengthens our portfolio of residential properties for rent and adds a new market to our footprint. We look forward to further developing our partnership with Arada through a transaction that combines strategic integration with viable long-term investment fundamentals.”
Ahmed Alkhoshaibi, group chief executive officer of Arada, said: “This deal reflects the strong confidence in Aljada and in Sharjah's residential market as a whole. When a leading company of Aldar's scale and track record chooses Aljada as its first investment in the emirate, it is evidence of the quality of what we have delivered here and of the promising investment opportunities Sharjah offers. This investment is a new step in our growing partnership with Aldar, and we look forward to exploring further opportunities for joint cooperation across different sectors.”
Aljada Development Profile
Aljada covers 2.2 million square meters, or roughly 23.7 million square feet, and is planned to include about 25,000 residential units at completion. Arada expects the development to generate total sales value of approximately AED 35 billion.
Residential handovers began in 2021, and more than 8,800 units have been delivered across several neighborhoods of the project. The community includes hospitality, education, retail and entertainment facilities, among them the Madar family entertainment complex, two international schools, two hotels, the Nest student housing complex and more than 300,000 square feet of occupied retail space.
Aljada is located near Sheikh Mohammed bin Zayed Road and Al Dhaid Road, about seven minutes from Sharjah International Airport and roughly 20 minutes from Dubai International Airport. Projects under way include Arada's Central Business District and Madar Mall, which Arada said will add to the community's commercial, retail and entertainment offering.
Market Implications for Sharjah Residential
The agreement gives Aldar Group exposure to Sharjah's residential market without developing the project itself, while Arada retains its role as developer through delivery in 2029. For Aldar, the purchase adds a new geographic market alongside its existing platform and supports its develop-and-hold strategy by expanding its portfolio of residential properties for rent.
The acquired buildings account for roughly 4.4% of Aljada's planned 25,000 homes, and the AED 1.1 billion price represents about 3.1% of the development's projected AED 35 billion in sales value. The transaction also shifts part of the Sharjah development pipeline toward institutional ownership rather than sales solely to individual buyers, creating a professionally managed rental portfolio in a market where affordability relative to Dubai and proximity to major employment centers can support tenant demand.
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