Aldar Properties has agreed to acquire three residential blocks comprising nine buildings and more than 1,100 units in Sharjah for AED1.1 billion ($300 million), marking its first real estate investment in the emirate.
The forward purchase agreement with Arada covers properties in Aljada, Sharjah’s flagship mixed-use development, with delivery expected in the fourth quarter of 2029, Aldar said on Thursday.
The deal expands Aldar’s develop-to-hold pipeline to AED21 billion and follows a recently announced AED15 billion development partnership between the two companies.
The investment broadens Aldar’s geographic exposure and gives it access to Sharjah’s residential market through an established integrated community, the company said.
Talal Al Dhiyebi, Aldar’s group chief executive, said the investment marked the company’s entry into Sharjah’s residential market and supported its strategy of developing properties to retain as rental assets.
Ahmed Alkhoshaibi, Arada’s group chief executive, said the transaction reflected confidence in Aljada and the wider Sharjah residential market, adding that the companies would look for further opportunities to work together.
Aljada spans 2.2 million square metres and is expected to comprise about 25,000 residential units at full build-out, with an anticipated gross sales value of AED35 billion.
Residential handovers began in 2021, and more than 8,800 units have been delivered across several districts.
The development includes lifestyle, hospitality, education and retail facilities, among them the Madar family entertainment district, two international schools, two hotels, student housing and more than 300,000 square feet of occupied retail space.
Aljada is seven minutes from Sharjah International Airport and about 20 minutes from Dubai International Airport, with access to Sheikh Mohamed bin Zayed Road and Al Dhaid Road.
