Aldar enters Sharjah with $300m Aljada acquisition

Sharjah, UAE - Aldar has agreed a $300 million (AED1.1 billion) forward purchase with Arada for nine residential buildings at Aljada, marking the Abu Dhabi developer’s first real estate investment in Sharjah.

The transaction covers three residential blocks containing more than 1,100 homes across the nine buildings. Arada is scheduled to deliver the assets in the fourth quarter of 2029.

The acquisition expands Aldar’s develop-to-hold pipeline to approximately $5.72 billion (AED21 billion) and gives the company direct exposure to Sharjah’s residential market through Aljada.

It also builds on the strategic partnership announced by Aldar and Arada in September, which covers approximately $4.08 billion (AED15 billion) of development opportunities in Abu Dhabi. That partnership includes a mixed-use community at Seih Sdeirah and residential development opportunities on Yas Island. Arada and Aldar both confirmed those arrangements in their official announcements.

Talal Al Dhiyebi, Group Chief Executive Officer of Aldar, said: “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.”

He said the transaction supports Aldar’s develop-to-hold strategy by adding scale to its residential rental portfolio and extending its presence into a new market.

Ahmed Alkhoshaibi, Group Chief Executive Officer of Arada, said: “This transaction is a strong vote of confidence in both Aljada and the Sharjah residential market more broadly.”

The nine buildings are expected to cater mainly to end-users and long-term renters once completed.

Aljada spans approximately 2.2 million sq m and is planned to contain around 25,000 homes at full build-out. Arada currently describes the master development as a 24-million-sq-ft community with 25,000 residential units, alongside commercial, retail, hospitality, education and leisure uses.

Arada has continued to expand construction across the development during 2026. Earlier this year, the company awarded more than $555 million (AED2.04 billion) in contracts covering 14 residential buildings and 2,210 homes at Aljada.

The wider Aljada project has an anticipated gross sales value of approximately $9.53 billion (AED35 billion) and includes completed residential districts as well as hospitality, education, retail and entertainment facilities. Arada reported in April that more than 9,000 homes had already been completed at the development.

The new acquisition represents the next stage in the relationship between Aldar and Arada, with both companies indicating that they intend to continue exploring further opportunities across different sectors and locations in the UAE.