Arada (company)


Arada is a property development company based in Sharjah, in the United Arab Emirates.

History

Arada is a privately held property development company, based in the United Arab Emirates, with an initial focus on the emirate of Sharjah. The company was founded in December 2016 by Sheikh Sultan bin Ahmed Al Qasimi, chairman of Basma Group, and Prince Khaled bin Alwaleed bin Talal Alsaud, chairman of KBW Investments.

Projects

Nasma Residences

Launched in March 2017, Nasma Residences is a housing project in the Al Tay suburb of Sharjah. The project is scheduled to be completed by the end of 2019.

Aljada

Launched in September 2017, Aljada is a large mixed-use development spread over a 24 million square foot area in the Muwaileh suburb of Sharjah.
The masterplan for Aljada includes housing, a business park, shops, hotels and schools as well as a leisure and entertainment complex, which is being designed by Zaha Hadid Architects.
Construction work on Aljada began in the first quarter of 2018, with the entire project scheduled for completion in 2025.
In December 2017, Arada secured AED 1 billion in Islamic financing from two banks in the United Arab Emirates to help fund the development of the project.
In April 2018, Arada signed a deal with Emaar Properties Hospitality Group to open three hotels in Aljada.

Anantara Sharjah Resort

In December 2017, Arada announced that it would open Sharjah's first Anantara-branded hotel in conjunction with Basma Group. The Anantara Sharjah Resort, which is due to open in mid-2020, will have 233 rooms.