Aldar Enters Sharjah With $300M Deal For Nine Arada Buildings

A first Sharjah holding for Aldar

Aldar will buy nine residential buildings holding more than 1,100 units from Arada, a transaction the Abu Dhabi-listed developer announced Thursday and priced at $300 million (AED 1.1 billion). It is Aldar's first real estate investment in Sharjah and pushes its develop-to-hold pipeline to $5.7 billion (AED 21 billion).

The deal takes the form of a forward purchase agreement covering three residential blocks spread across the nine buildings. Arada is due to hand the properties over in the fourth quarter of 2029.

For Aldar, the purchase serves two goals: assembling a larger pool of properties it keeps for long-term rental income, and putting capital to work outside the markets where it already operates. The units are aimed mainly at long-term tenants and residents looking for housing at accessible price points, the company said.

Why Aljada

Talal Al Dhiyebi, Aldar's group chief executive, pointed to Sharjah's expanding residential market and the infrastructure already in place at Aljada as reasons the development works as an investment. He said the transaction grows Aldar's rental residential portfolio and deepens its relationship with Arada.

Ahmed Alkhoshaibi, Arada's group chief executive, called the agreement a vote of confidence in Aljada and in Sharjah's housing market, and flagged room for further work between the two companies.

Aljada covers 2.2 million square meters and is expected to hold about 25,000 homes once finished, with an anticipated gross sales value of $9.5 billion (AED 35 billion), according to Arada. The community already has two international schools, two hotels, student accommodation and more than 300,000 square feet of occupied retail space. The Arada Central Business District and Madar Mall are under development and should widen its commercial and retail offer. Aljada sits close to Sheikh Mohammed bin Zayed Road and Al Dhaid Road, giving residents access to both Sharjah and Dubai. Arada has handed over more than 8,800 residential units since handovers started in 2021.

Built on a larger Abu Dhabi tie-up

Thursday's agreement follows a $4.1 billion (AED 15 billion) strategic partnership the two companies announced on September 30, covering residential and mixed-use development opportunities in Abu Dhabi. That arrangement included a joint venture to develop a mixed-use community at Seih Sdeirah across as much as 1.5 million square meters, alongside Arada's purchase of three residential development plots from Aldar on Yas Island. It was Arada's first development presence in Abu Dhabi.

Where the two companies sit in regional rankings

Aldar placed 28th on a 2026 ranking of the region's 100 most valuable companies. Al Dhiyebi took 29th place on a 2026 list of the region's top 100 chief executives. On a 2026 list of the region's most impactful real estate leaders, Al Dhiyebi was third and Alkhoshaibi 37th.