Arada is the developer company with its head office located in Sharjah, the United Arab Emirates.
Arada is the private developer company based in the United Arab Emirates, with initial attention to Sharjah Emirate. The company was incorporated in December 2016 by sheikh Sultan bin Ahmed Al Qasimi, the chairman of Basma Group, and the prince Khaled bin Alvalid bin Talal Al Saud, the chairman of KBW Investments. For the time being, Arada launched three general planning projects with total value of 33 bln AED which makes the company the largest Sharja builder.
Nasma Residences residential complex, launched in March 2017, is located in Sharjah suburb, Al Tai. The project is sold out, and the first five stages have been completed and delivered. Nasma Central, the project public center and public park, was completed in 2021.
Launched in September 2017, Aljada is a large multi-functional complex of 24 mln sq. feet in Muvailah suburb in Sharjah.
The Aljada general plan includes housing, a business park, stores, hotels and schools, and an entertainment center developed by Zaha Hadid Architects.
Construction at Aljada started in the first quarter of 2018, and completion of the entire project is scheduled for 2025.
In December 2017, Arada received 1 bln AED of Islamic financing from two banks in the United Arab Emirates, with the purpose to help in financing the project develoment. In 2019, the company received 1 more bln AED, additional fianncing for the amount of 337 mln AED, and 250 mln AED, were finished in 2021.
In April 2018, Arada signed an agreement with Emaar Properties Hospitality Group on opening three hotels in Alhada.
In February 2020, the first phase of the entertainment center called Madar at Aljada was opened to public, that marked the completion of the first project stage.
The first houses in Aljada were completed and delivered in early 2021.
In January 2021, Arada launched its third project, the luxury forest cottage town in Suyo district, Sharjah.The project consists of 4,000 villas and townhouses; the first stage should be finished by the end of 2022.
In December 2017, Arada announded the opening of the first Sharjah hotel under Anantara brand together with Basma Group. Anantara Sharjah Resort will have 23 rooms.