Construction Week Online: Everything you need to know about Sharjah’s $6.5bn Aljada project

10 September 2017

Earlier this week, Arada launched what looks set to become the largest real estate development in Sharjah’s history.

Unveiled on 6 September in the presence of HH Sheikh Dr Sultan bin Muhammad Al Qasimi, Supreme Council Member and Ruler of Sharjah, Aljada – the Arabic term for ‘avenue’ – is a master-planned megaproject that will feature a diverse array of residential, commercial, and retail offerings, not to mention its own business park and a dedicated entertainment and leisure precinct. Make no mistake, Aljada is not only large within the context of Sharjah’s real estate landscape; it would represent an immense development in any market. Yet, to all intents and purposes, Arada is a start-up. The UAE-based developer is less than a year old, and Aljada is only its second project.

Established in 2017, Arada is a partnership enterprise that was formed jointly by KBW Investments and Basma Group. The former was founded by HRH Prince Khaled bin Alwaleed bin Talal, a member of Saudi Arabia’s royal family, while the latter is chaired by HE Sheikh Sultan bin Ahmed Al Qasimi, a member of Sharjah’s ruling family.

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