Gulf News: UAE developer to build biggest-ever real estate project in Sharjah

06 September 2017

The Dh24bn mixed-use development in the emirate will house 70,000 people upon completion

The Dh24 billion (US$6.5bn) Aljada development unveiled yesterday by Dr Sheikh Sultan bin Mohammed Al Qasimi, Ruler of Sharjah is over 2.2 square kilometers. The project will be funded through a combination of debt and equity, with Arada’s founding partners – Basma Group and KBW Investments, a firm controlled by Saudi Arabia’s Prince Khaled bin Alwaleed bin Talal – putting up Dh5bn in funds for the development, Arada chairman Sheikh Sultan bin Ahmed Al Qasimi told The Nationalon the sidelines of the launch event.

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