Sharjah · News · Aldar × Arada

Aldar buys nine Aljada residential buildings in Sharjah from Arada for AED 1.1 billion, its first investment in the emirate

Aldar announced on Thursday 15 October 2026 an AED 1.1 billion forward purchase agreement with Arada for nine residential buildings with more than 1,100 units in Aljada, Arada's master community in Sharjah, with delivery scheduled for the fourth quarter of 2029. It is Aldar's first real estate investment in Sharjah, it expands Aldar's develop-to-hold pipeline to AED 21 billion, and it builds on the AED 15 billion development partnership the two companies announced in Abu Dhabi on 30 September 2026.

Al Mithaq news desk · Published 15 October 2026 · Source: Aldar press release

Aerial render of Aljada in Sharjah: curved white buildings with green roofs around a tall tower and a pool, with apartment blocks and trees all around. Picture: Aldar and Arada, via Sharjah24

AED 1.1bnforward purchase agreement between Aldar and Arada

9 buildingsin three residential blocks at Aljada, Sharjah

1,100+residential units

Q4 2029scheduled delivery by Arada

AED 21bnAldar's develop-to-hold pipeline after the deal

What Aldar announced on Thursday

In a release dated Abu Dhabi, 15 October 2026, published on its own newsroom and carried the same morning by Sharjah24, Aldar announced an AED 1.1 billion forward purchase agreement with Arada for three residential blocks comprising over 1,100 units across nine buildings in Aljada, which it calls Sharjah's flagship mixed-use master development. Some reports lead with nine buildings and others with three blocks; the release gives both, so the two figures describe the same deal. Under a forward purchase Aldar agrees the acquisition now and Arada delivers the buildings later: the release says the assets will be delivered by Arada in Q4 2029 and will add more than 1,100 units to Aldar's portfolio. The transaction is Aldar's first real estate investment in the emirate and expands its develop-to-hold pipeline, the assets it develops or buys to keep, to AED 21 billion across sectors. At the dirham's fixed rate of 3.6725 to the dollar, that is about USD 300 million (our calculation). The release does not say where in Aljada the blocks are, or give unit sizes or rents.

What the two chief executives said

Talal Al Dhiyebi, Group Chief Executive Officer of Aldar: "Sharjah is a large and growing residential market, and Aljada provides an attractive entry point through one of the emirate's leading master-planned communities. This investment is closely aligned with our develop-to-hold strategy, adding scale to our residential for rent portfolio while broadening our exposure to a new market." Ahmed Alkhoshaibi, Group Chief Executive Officer of Arada, as worded in Aldar's release: "This transaction is a strong vote of confidence in both Aljada and the Sharjah residential market more broadly. To have a developer of Aldar's calibre and track record choose Aljada as its first investment in the emirate reflects the quality of what we have built here, and the scale of the opportunity that Sharjah represents."

Aljada in numbers

According to the release, Aljada spans 2.2 million square metres and is expected to comprise approximately 25,000 residential units at full build-out, with an anticipated gross sales value of AED 35 billion. Residential handovers have been under way since 2021, with over 8,800 units delivered across several districts. Completed facilities include the Madar family entertainment district, two international schools, two hotels, the Nest student housing complex and more than 300,000 square feet of occupied retail space. The community sits near Sheikh Mohammed bin Zayed Road and Al Dhaid Road, seven minutes from Sharjah International Airport and around 20 minutes from Dubai International Airport, and the Arada Central Business District and Madar Mall are still being built.

Two weeks after the AED 15 billion partnership

The deal follows the strategic partnership Aldar and Arada announced on 30 September 2026, covering development opportunities worth about AED 15 billion in Abu Dhabi: a joint community at Seih Sdeirah and residential plots on Yas Island, as we reported at the time. That agreement brought Arada into Abu Dhabi; this one brings Aldar into Sharjah. Aldar's release calls the Aljada purchase the next step in the partnership, with both companies continuing to look for further opportunities to work together.

Why it mattersOur view for a Kuwaiti reader. Aldar is not buying these homes to resell them: in its own words the deal adds scale to its residential for rent portfolio, and its release says the nine buildings will cater primarily to end-users and long-term renters seeking quality housing at accessible price points. When a developer of Aldar's size commits AED 1.1 billion to rental homes in Aljada about three years before handover, in a community where more than 8,800 homes have already been delivered since 2021, it is a judgement that people will keep wanting to live and rent there. Three cautions from us. First, this is one investor's judgement, not a forecast: no source gives a rent, a price or a yield, and neither do we. Second, if you own or plan to buy an apartment in Aljada to rent out, more than 1,100 units held by one large landlord from 2029 also means more choice for tenants, so the condition and management of your own unit will matter more. Third, these buildings are not a new launch: the releases do not mention any sale of them to individual buyers. What a Kuwaiti buyer can take from it is simple: two weeks after their Abu Dhabi agreement, Aldar and Arada are now working together in Sharjah too, and Aldar chose Aljada for its first step into the emirate.

What Al Mithaq adds

We are an authorised broker for Arada at Aljada, and we sell Aldar homes in Abu Dhabi. Our Aljada page shows the one- to four-bedroom apartments at Jenna, Safa and The Gate, three minutes from University City, with Madar, the entertainment hub designed by Zaha Hadid Architects, at the centre. The nine buildings in Aldar's deal are not among the homes we sell, and we are not party to the transaction. For the background, read our story on the AED 15 billion Aldar and Arada partnership and our story on Arada's contractor Roberts Co, whose first UAE project will be Phase 2 of the Arada Central Business District at Aljada. Our UAE residency page explains which residency a purchase in Sharjah, Dubai or Abu Dhabi can open and at what price.

Sources

Key facts

Announced: Aldar, Abu Dhabi, 15 October 2026
Deal: Forward purchase agreement, AED 1.1 billion (about USD 300 million, our calculation)
Buyer and seller: Aldar buys from Arada
What: Nine residential buildings in three blocks, more than 1,100 units, Aljada, Sharjah
Delivery: Q4 2029, by Arada
Aldar pipeline: Develop-to-hold pipeline expanded to AED 21 billion; first investment in Sharjah
Aljada: 2.2 million sqm; about 25,000 units at full build-out; AED 35 billion gross sales value; 8,800+ units delivered since 2021
Partnership: Builds on the AED 15 billion Aldar and Arada partnership of 30 September 2026