‎Aldar seals AED 1.1B Sharjah property deal

‎<p ><span ><span class="ckeCaption" ><img src="https://argaamplus.s3.amazonaws.com/42ecd01c-2951-4270-8ad7-d49046bcfee2.png" ><br> Logo of Aldar Properties</span></span></p> <hr> <p >ADX-listed Aldar Properties announced that it signed a forward purchase agreement with Arada for AED 1.1 billion to acquire three residential complexes comprising more than 1,100 units across nine buildings in the Aljada development in Sharjah.</p> <p ><br> In a statement, the company said the transaction marks its first real estate investment in Sharjah and increases the value of its develop-and-hold portfolio to AED 21 billion.</p> <p ><br> Aldar said Arada will complete and hand over the buildings in Q4 2029, noting that the acquired units will be primarily allocated for long-term residential leasing.</p> <p ><br> The company added that the transaction builds on its recently announced AED 15 billion strategic partnership with Arada, providing an entry into Sharjah's residential property market while expanding its portfolio of residential rental assets.</p> <p ><br> Aljada is a mixed-use development in Sharjah spanning 2.2 million square meters. Upon completion, it is expected to comprise approximately 25,000 residential units, with projected total sales of AED 35 billion.</p> <p ><br> Residential unit handovers at the development began in 2021, with more than 8,800 units delivered to date. The project also features educational, commercial and leisure facilities, alongside more than 300,000 square feet of occupied retail space.</p> <p ></p>

Publication

Argaam - UAE News · Trade Publication

Published

15th October 2026

Original report

argaam.com

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