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Arada sukuk. Rendering of Jouri Hills project in Jumeirah Golf Estates. Investor interest in the sukuk was geographically diverse, with participation from Europe, the Middle East and Asia

Arada to part-fund projects from $400m sukuk

The real estate developer Arada has raised $400 million through sukuk (Islamic bonds) to part fund its projects across the UAE. The sukuk order book reached $1.45 billion, 3.5 times oversubscribed, after strong demand from both regional and international investors. The fundraising is the first issuance under Arada’s newly established $1 billion sukuk programme, the […]

Amit Arora the new CEO of Arada, says 'we are seeing a diverse group of investors and residents that want to buy in our communities'

Overseas buyers dominate in Sharjah’s reformed real estate

Overseas buyers in Arada’s two mega-developments in Sharjah have vastly outnumbered locals in the year-and-a-half since the emirate expanded full real estate ownership rights to non-GCC nationals. From when Aljada, Sharjah’s biggest mixed-use project, launched in 2017 until the land reform of late October 2022, Emirati nationals bought more than 63 percent of the value […]

Dubai flooding clean-up

Crown Prince tells developers to pay for Dubai flood clean-up 

Dubai property developers have been ordered by the emirate’s Crown Prince to bring “normalcy” back to communities devastated by last week’s flooding – at no additional charge to tenants. The UAE experienced its heaviest rains in 75 years last Tuesday. The downpour turned main roads, particularly in Dubai, into waterways, leaving motorists stranded and causing […]

The 565 housing units in Azalea are the fourth phase of the AED9.5 billion Masaar development in Sharjah

Arada awards $168m in contracts for Sharjah development

UAE real estate developer Arada has awarded two contracts worth AED615 million ($167.5 million) to build all 565 residential dwellings in Azalea, the fourth phase of the AED9.5 billion Masaar mega-development in Sharjah’s Suyoh district.  Construction will begin immediately and the units will be ready for handover by the end of 2025, the developer said […]

Arada project Syria

Sharjah developer launches Syria home-building campaign

The Sharjah developer Arada has launched its third annual Ramadan charity campaign, pledging to build homes for displaced families in Syria.  For every house sold at Arada’s real estate developments during the holy month, the company will build a home for a Syrian family affected by recent conflict and the February 2023 earthquakes. NewsletterGet the […]

A view of Aljada Discovery Center. Arada sold 2,824 homes in 2023, a 25% year-on-year gain

Arada sets $2.7bn sales target on UAE market optimism

UAE real estate developer Arada expects sales to hit AED10 billion ($2.72 billion) in 2024, a 42.5 percent increase from AED7.02 billion achieved last year. The higher sales will be driven by continued global interest in the UAE real estate sector. The developer sold 2,824 homes in 2023, a 25 percent gain year on year, […]

Arada’s $163m land plot to house 50-floor residential tower 

UAE-based real estate developer Arada will build a 50-storey luxury residential tower adjacent to Dubai International Financial Centre (DIFC). The company purchased a land plot in Zabeel 2 for AED600 million ($163.36 million) from Rital Properties, the real estate subsidiary of Emirates NBD. The 138,466 sq ft land plot is close to Index Tower and […]

Arada awards $191m contract for its first Dubai project

UAE real estate developer Arada has awarded two contracts worth AED700 million ($190 million) to build all 294 upscale houses at its first Dubai project in Jumeirah Golf Estates.  Jouri Hills covers an area of more than 40 million square feet of Jumeirah Golf Estates, which houses two international golf courses.  Intermass, a UAE-based contractor […]

AAAID aims to support Egypt's efforts to increase agricultural productivity and achieve food security

UAE’s farming task force clinches $136m supply deal

Farms in the UAE have provisionally agreed to supply food and agricultural products totalling AED500 million ($136 million) over five years to some of the country’s biggest public sector institutions.  The deal is the first to be struck by the National Farm Sustainability Initiative (NFSI) task force, a government group set up by the UAE’s […]

Arada Sharjah Masaar

Sharjah real estate sales surge from Dubai spillover

The loosening of buying rules and a steady spillover of tenants from Dubai has boosted real estate sales in its neighbouring emirate Sharjah. Arada, a master developer in the emirate, has reported a 186 percent increase in sales during the first half of this year. It sold a total of 1,616 homes worth a total […]