Abu Dhabi-based Aldar Properties has agreed to acquire nine residential buildings in Sharjah’s Aljada development from developer Arada for Dh1.1 billion, marking Aldar’s initial real estate investment in the emirate. The forward purchase agreement covers three residential blocks comprising more than 1,100 units, with completion and handover scheduled for the fourth quarter of 2029.

This deal expands Aldar’s develop-to-hold investment pipeline to Dh21 billion and enhances its portfolio of income-generating residential assets. It also represents the company’s geographic expansion beyond its established markets, giving it exposure to Sharjah’s residential property sector. The acquisition follows a previously announced Dh15 billion development partnership between Aldar and Arada, further cementing their collaboration.

Talal Al Dhiyebi, Group Chief Executive of Aldar, highlighted Sharjah as a “large and growing residential market,” emphasizing that Aljada offers an attractive entry point into the emirate’s real estate landscape. He described the acquisition as aligned with Aldar’s develop-to-hold strategy, which focuses on expanding residential rental portfolios with strong long-term fundamentals. Al Dhiyebi added that the deal represented a “strong strategic fit” for the company as it broadens its market exposure.

For Arada, the deal signals a vote of confidence in the Aljada development and the wider Sharjah housing market. Ahmed Alkhoshaibi, Arada’s Group Chief Executive, noted that securing a partnership with a well-established developer like Aldar reflects the quality of the project and the growth potential Sharjah offers. He also mentioned that the transaction marked a new milestone in their growing alliance and signaled intentions to explore further cooperation across sectors.

Aljada spans approximately 2.2 million square meters and is planned to contain around 25,000 homes upon full completion, with a total gross sales value estimated at Dh35 billion. Since residential handovers began in 2021, over 8,800 units have been delivered across various districts within the master development. The community includes supporting infrastructure such as the Madar family entertainment district, two international schools, two hotels, the Nest student housing complex, and more than 300,000 square feet of occupied retail space.

Situated near key transport routes like Sheikh Mohammed Bin Zayed Road and Al Dhaid Road, Aljada is about seven minutes from Sharjah International Airport and approximately 20 minutes from Dubai International Airport. Further expansions, including the introduction of the Arada Central Business District and Madar Mall, are expected to enhance commercial, retail, and leisure offerings in the community.

The homes included in the deal are anticipated primarily to attract end-users and long-term renters seeking affordable housing within a well-established master-planned community. This acquisition positions Aldar to participate in Sharjah’s growing residential market through a development that is operational, rather than at the planning stage, providing immediate exposure to income-generating assets.