Aldar, Abu Dhabi's largest listed developer, and Sharjah-based Arada have signed a Dh15 billion ($4 billion) partnership to deliver a series of new residential and mixed-use projects across Abu Dhabi. The agreement, announced this week, covers two flagship sites: Seih Sdeirah, a 1.5 million square metre mixed-use community straddling the Abu Dhabi-Dubai border that will include villas, townhouses, retail space and recreational facilities, and Yas Island, where Arada will develop three residential plots spanning more than 27,500 square metres, including two canal-facing sites.
Under the deal, Arada will lead design, development and construction, while both companies will jointly manage branding and sales. The partnership also marks Arada's formal entry into the Abu Dhabi property market, extending its footprint beyond its home base in Sharjah, where it has built several large-scale communities over the past decade.
"The opportunities on Yas Island and at Seih Sdeirah establish a strong foundation for our collaboration with Arada," said Talal Al Dhiyebi, group chief executive of Aldar. Arada group chief executive Ahmed Alkhoshaibi described the tie-up as "the beginning of what we intend to be a long and productive collaboration."
The agreement comes as Abu Dhabi's real estate sector continues to attract developers based in other emirates, drawn by rising demand for premium residential product and government-backed infrastructure investment. Neither company has released a construction timeline or handover dates for the new developments, though both said further details would follow as planning progresses.