Dubai, UAE — Arada has reported a record first-half sales of AED 4.26 billion ($1.15 billion), a 186 percent increase over the previous year.
In total, Arada sold 1,616 homes at its communities during the first half, a 23 percent increase on the same period in 2022.
Arada’s best-performing community in terms of sales was Masaar, the forested megaproject based in the up-and-coming Suyoh district of Sharjah. During the first half, Arada sold 813 homes at Masaar valued at AED2.34 billion, a 200 percent increase on the same period a year earlier.
Launched at the end of 2022, Jouri Hills at Jumeirah Golf Estates is Arada’s first project in Dubai and has witnessed strong buyer demand in line with the global interest in the UAE’s biggest property market. During the first half, Arada sold 169 luxury villas at Jouri Hills valued at AED1.29 billion.
Buyers also flocked to Aljada, Sharjah’s largest mixed-use destination, where 634 homes valued at AED638 million were sold in the first half, a slight decline on the same period in 2022.
During the first half, Arada also announced its signature partnership with Armani Group and Japanese architect Tadao Ando for the Armani Beach Residences Palm Jumeirah, which will be launched before the end of the year.
The developer listed its debut $500 million Sukuk on the Nasdaq Dubai exchange in June and launched Rove Home Aljada, the hotel brand’s first venture into the residential market. In January and February, Since its foundation in 2017, Arada has sold over 13,000 homes valued at AED13.4 billion.
Prince Khaled bin Alwaleed bin Talal, Vice Chairman of Arada, said: “We have consistently promised our buyers attractive investment opportunities that continuously create value, as well as lifestyle experiences within well-designed communities coupled with world-class services. It’s very clear that owners are responding favorably to that promise, and I’m especially proud of the high percentage of repeat buyers of Arada homes that we are currently witnessing.