Arada signals further expansion into high-end Dubai property market

Arada signals further expansion into high-end Dubai property market

50-floor luxury residential tower to be built on 138,466 sqft plot next to DIFC  Premium site bought from Rital Properties marks fast-growing master developer’s third project in Dubai Dubai, United Arab Emirates – Arada has purchased a prime land plot in Zabeel 2 adjacent to Dubai International Financial Centre (DIFC), marking yet another significant expansion milestone for the master developer into the high-end Dubai property market. Valued at AED600 million, the plot was purchased from Rital Properties, the real estate subsidiary of Emirates NBD. The 138,466 sq ft land plot is close to both Index Tower and Central Park Towers. Strategically positioned between DIFC and Downtown Dubai, plans are in place to develop the land into a 50-floor luxury residential tower, containing 400 premium apartments, offering views of the Burj Khalifa and the stunning Dubai skyline from a central location at the heart of the city’s prominent financial hub. The plot purchase was signed at a ceremony held at the Emirates NBD Headquarters in Dubai. The event was attended by HRH Prince Khaled bin Alwaleed bin Talal, Vice Chairman of Arada, Abdulla Qassem, Chairman of Rital Properties, Ahmed Alkhoshaibi, Group Chief Executive Officer of Arada, and Ahmed Al Sheryani, CEO of Rital Properties.  HRH Prince Khaled