Aldar secures Dh1.1 billion Sharjah residential purchase in first emirate move

Deal overview

Aldar, Abu Dhabi’s largest listed developer, has agreed to buy more than 1,100 residential units in Sharjah from Arada for Dh1.1 billion, equivalent to about $290 million. The purchase marks Aldar’s first foray into the Sharjah property market and forms part of its strategy to grow an income‑generating portfolio.

“Sharjah is a large and growing residential market, and Aljada provides an attractive entry point through one of the emirate’s leading master‑planned communities,” said Aldar group chief executive Talal Al Dhiyebi. He added that the investment adds scale to Aldar’s residential‑for‑rent portfolio.

The forward‑purchase agreement covers nine buildings situated in three residential blocks within Arada’s flagship mixed‑use scheme, Aljada. Delivery of the units is set for the fourth quarter of 2029, Aldar announced on Thursday. The deal will increase Aldar’s develop‑to‑hold pipeline to Dh21 billion.

Aldar said the acquired buildings will mainly serve end‑users and long‑term renters looking for quality housing at affordable prices inside an established integrated community.

Strategic partnership background

The transaction builds on a Dh15 billion development partnership announced last month between Aldar and Arada, which expands their existing relationship and includes projects in Abu Dhabi. That partnership signalled Arada’s entry into the Abu Dhabi market and comprises a mixed‑use community at Seih Sdeirah on the Abu Dhabi‑Dubai border together with three residential plots on Yas Island.

Arada is a joint venture between KBW Investments – a firm controlled by Saudi Arabia’s Prince Khaled bin Alwaleed – and the Sharjah‑based Basma Group. Over recent months Arada has accelerated its expansion across the UAE and into overseas markets such as the United Kingdom, Australia and Syria.

Future developments

Aldar also disclosed plans to launch a major villa and townhouse project in Dubai by the end of 2026, as part of its broader UAE expansion. The scheme, whose value has not been disclosed, will be located near Dubai Silicon Oasis. Jonathan Emery, chief executive of Aldar Development, revealed the details in an interview with The National held in London earlier this week.

Market context and statements

The acquisition comes while the UAE property market continues to show strength despite uncertainties linked to the Iran war. In June a property‑market league table ranked the Emirates as the world’s top destination for real‑estate investment. Separately, Arada’s UAE Property Investment Index, prepared on behalf of the Dubai developer by the US‑based Penta Group, found that 56 percent of global investors have serious interest in the UAE’s property sector.

Aldar said the latest purchase will broaden its geographic footprint and add residential‑rental assets aimed at end‑users and long‑term tenants seeking housing at accessible price points.

Arada’s group chief executive, Ahmed Alkhoshaibi, commented that Aldar’s decision to make its inaugural Sharjah investment at Aljada reflects confidence in both the development and the emirate’s residential market. He said: “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.”

Aljada covers 2.2 million square metres and is expected to eventually provide around 25,000 homes, with an anticipated gross sales value of Dh35 billion. Residential hand‑overs at the scheme began in 2021, and more than 8,800 homes have already been delivered across its districts. The community also features schools, hotels, student accommodation, retail space and the Madar family entertainment district.

Aldar added that the acquisition fits its strategy of expanding an income‑generating property portfolio to diversify revenue streams.

The Abu Dhabi developer reported strong second‑quarter financial results and expects to hand over more than 3,000 units in 2026, the highest volume since its launch. Deliveries are projected to rise to 4,500 units in 2027, according to Jonathan Emery.