Abu Dhabi's largest listed developer, Aldar, has made its first residential investment in Sharjah, acquiring nine apartment buildings in the Aljada master development for Dh1.1 billion ($290 million).
The deal covers more than 1,100 units across three blocks, with handover scheduled for the fourth quarter of 2029. Aljada is one of Sharjah's flagship mixed-use communities and has been developed in phases over recent years as a hub for residents and businesses alike.
Aldar chief executive Talal Al Dhiyebi said Sharjah represents a large and growing residential market, describing Aljada as an attractive entry point into one of the emirate's best-known master-planned communities.
The acquisition marks Aldar's debut property investment in Sharjah and lifts the group's rental portfolio pipeline to Dh21 billion. It follows a broader Dh15 billion partnership struck last month between Aldar and Arada covering projects in Abu Dhabi, pointing to deepening ties between two of the UAE's major developers.
Aldar said the newly acquired homes are aimed at end-users and long-term tenants seeking affordable housing within an established community, positioning the company to capture rising demand in Sharjah's residential sector as the emirate's population and economy continue to expand.