Arada sets $2.7bn sales target on UAE market optimism

Arada sets $2.7bn sales target on UAE market optimism

UAE real estate developer Arada expects sales to hit AED10 billion ($2.72 billion) in 2024, a 42.5 percent increase from AED7.02 billion achieved last year. The higher sales will be driven by continued global interest in the UAE real estate sector. The developer sold 2,824 homes in 2023, a 25 percent gain year on year, […]UAE real estate developer Arada expects sales to hit AED10 billion ($2.72 billion) in 2024, a 42.5 percent increase from AED7.02 billion achieved last year.

The higher sales will be driven by continued global interest in the UAE real estate sector.

The developer sold 2,824 homes in 2023, a 25 percent gain year on year, as buyers bought larger and higher-value villas and apartments.

Masaar, a high-end forested community in the Al Suyoh district of Sharjah, topped the sales list by closing AED3.64 billion deals.

Demand for property in Aljada, Sharjah’s mixed-use project, remained high, with sales reaching AED1.53 billion.

Jouri Hills at Jumeirah Golf Estates, Dubai, reported sales of AED1.88 billion.

“We continue to monitor locations across the UAE, and will be launching another two luxury projects in the first half of this year,” Ahmed Alkhoshaibi, group CEO of Arada, said.

Prince Khaled bin Alwaleed bin Talal, vice chairman of Arada,