Aldar makes first Sharjah investment with Dh1.1bn purchase of Aljada homes from Arada

Abu Dhabi’s largest listed developer has agreed a Dh1.1 billion forward purchase of more than 1,100 homes at Arada’s Aljada community, its first real estate investment in Sharjah.

Aldar Properties has struck its first real estate deal in Sharjah, agreeing to buy nine residential buildings at Arada’s Aljada master community for Dh1.1 billion (about $300 million). The deal extends the Abu Dhabi group’s push to build a portfolio of rental homes across the UAE.

The forward purchase agreement, announced on Thursday, covers more than 1,100 homes in three residential blocks. Delivery is scheduled for the fourth quarter of 2029. The buildings will be held as income-generating assets, not sold on to individual buyers.

Expanding the develop-to-hold strategy

The transaction lifts Aldar’s develop-to-hold pipeline, its portfolio of projects built or bought to be kept and leased, to Dh21 billion. The company said the homes will mainly serve end users and long-term tenants looking for quality housing at accessible prices inside an established, integrated community.

Aldar group chief executive Talal Al Dhiyebi described Sharjah as a “large and growing residential market”. He said the investment was “closely aligned” with the group’s develop-to-hold strategy and adds scale to its residential-for-rent business.

For Arada, the deal brings a large institutional buyer into its flagship project. Arada group chief executive Ahmed Alkhoshaibi called it a “strong vote of confidence” in Aljada and in the wider Sharjah housing market.

A deepening partnership between two developers

The Sharjah purchase follows a Dh15 billion development partnership that Aldar and Arada announced last month. That agreement covers projects in Abu Dhabi and marked Arada’s entry into the capital.

Arada was founded in 2017 and has grown quickly in the UAE and abroad. Its backers include Saudi Prince Khaled bin Alwaleed bin Talal, alongside Sharjah-based partners.

Aljada covers about 2.2 million square metres in Sharjah’s Muwaileh district. At full build-out it is expected to hold around 25,000 homes, with an anticipated gross sales value of Dh35 billion. More than 8,800 homes have been handed over since the first deliveries in 2021.

Sharjah market and Aldar’s pipeline

The deal gives Aldar a foothold in the UAE’s third-largest emirate, where housing demand stayed firm through the first nine months of 2026. Official figures cited by the state news agency WAM this week showed that almost 20,000 homes were sold in Sharjah between January and September.

Aldar has also been expanding beyond Abu Dhabi, including in Dubai. Jonathan Emery, chief executive of Aldar Development, said the company expects to hand over more than 3,000 units in 2026, its highest annual total since it was founded, rising to about 4,500 next year.

Emery also acknowledged that buyers have slowed down this year, particularly international customers, against the backdrop of the regional conflict involving Iran. He said demand from UAE residents and overseas-based expatriates remains supportive. For developers with large balance sheets, long-term rental assets such as the Aljada buildings offer a steadier source of income while sales cycles lengthen.