Dubai, UAE — Aldar and Arada have agreed a strategic partnership covering development opportunities on Yas Island and at Seih Sdeirah in Abu Dhabi, with a combined value of about AED15 billion.
The first phase includes a joint venture to develop a large mixed-use community at Seih Sdeirah, on the Abu Dhabi-Dubai border, and Arada’s acquisition of three residential development plots on Yas Island.
The partnership marks Arada’s first development presence in Abu Dhabi and combines Aldar’s landbank and development platform in the emirate with Arada’s experience in delivering large-scale communities.
At Seih Sdeirah, the companies will jointly develop a community spanning up to 1.5 million square metres, comprising villas and townhouses alongside retail and recreational amenities.
Arada will lead development and construction management, while Aldar and Arada will jointly brand and sell the community.
On Yas Island, Arada has acquired three development plots from Aldar, including two canal-facing sites. The plots have a combined area of more than 27,500 square metres and total gross floor area of almost 130,000 square metres.
Arada plans to develop premium residential communities on the plots, expanding its presence into Abu Dhabi and adding to Yas Island’s residential offering.
The two transactions form the first phase of the partnership, with the companies planning to explore further cooperation across sectors, asset classes and locations in the UAE.
Aldar CEO Talal Al Dhiyebi said the partnership brought together complementary capabilities and established a foundation for further collaboration across the UAE.
Arada Group CEO Ahmed Alkhoshaibi said Aldar’s scale and established Abu Dhabi platform provided a foundation for the communities Arada intends to develop in the emirate.
