Abu Dhabi-based developer Aldar Properties has made its first formal entry into Sharjah's real estate market, signing a Dh1.1 billion agreement to acquire more than 1,100 residential units across nine buildings in Aljada, the flagship master development of Sharjah developer Arada.
The units are scheduled for delivery in the fourth quarter of 2029. The deal marks a significant expansion of Aldar's strategy beyond its traditional Abu Dhabi and Dubai footprint, giving it a formal foothold in one of the UAE's fastest-growing residential markets.
Talal Al Dhiyebi, Group Chief Executive Officer of Aldar, said Sharjah is a large and growing residential market, and Aljada provides an attractive entry point for the company. He added that the investment forms part of Aldar's broader strategy of geographic diversification across the UAE.
Ahmed Alkhoshaibi, Chief Executive Officer of Arada, described the transaction as a strong vote of confidence in both Aljada and the Sharjah residential market more broadly, saying it confirms the growing demand for quality developments in the emirate.
Aljada has become one of Sharjah's most sought-after residential destinations in recent years, offering retail centres, green spaces and easy access to major highways, drawing interest from both local and regional investors. The entry of a major developer such as Aldar is expected to intensify competition and attract further investment into the Sharjah property market going forward.