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Aldar Properties acquires Sharjah residential assets for $300 million
Aldar Properties has entered the Sharjah residential market through a forward purchase agreement with Arada to acquire nine buildings in the Aljada mixed-use development. The deal, valued at AED 1.1 billion ($300 million), includes more than 1,100 residential units.
Arada is expected to complete construction and deliver the properties in the fourth quarter of 2029. This transaction marks Aldar's first real estate investment in the emirate and aligns with its strategy to expand its develop-to-hold portfolio, which now reaches AED 21 billion.
The acquisition follows a recently announced AED 15 billion strategic partnership between Aldar and Arada. The Aljada project, spanning 2.2 million square meters, is projected to eventually house 25,000 units with an estimated total gross sales value of AED 35 billion.
Entities
Aldar Properties · Aljada · Arada · Sharjah · Talal Al Dhiyebi
Claims
What the coverage asserts, and how many sources carry each claim.
- [● 3 SOURCES] The deal is a forward purchase agreement with Arada for properties located in the Aljada development. okaznews.net · trendsmena.com · gulfnews.com
- [● 2 SOURCES] The Aljada project has an anticipated total gross sales value of AED 35 billion. okaznews.net · trendsmena.com
- [● 2 SOURCES] The Aljada development covers 2.2 million square meters and is expected to eventually contain approximately 25,000 residential units. okaznews.net · trendsmena.com
- [● 3 SOURCES] Aldar Properties agreed to acquire nine buildings containing over 1,100 units in Sharjah for AED 1.1 billion ($300 million). okaznews.net · trendsmena.com · gulfnews.com
- [● 3 SOURCES] This deal follows a previously announced AED 15 billion development partnership between Aldar and Arada. okaznews.net · trendsmena.com · gulfnews.com
- [● 3 SOURCES] The acquisition expands Aldar's develop-to-hold pipeline to AED 21 billion. okaznews.net · trendsmena.com · gulfnews.com
- [● 3 SOURCES] Arada is scheduled to complete construction and deliver the assets in the fourth quarter of 2029. okaznews.net · trendsmena.com · gulfnews.com
- [● 3 SOURCES] This transaction represents Aldar's first real estate investment in the emirate of Sharjah. okaznews.net · trendsmena.com · gulfnews.com