Sharjah developer Arada expands into Dubai property market with Dh600 million plot purchase

Sharjah developer Arada expands into Dubai property market with Dh600 million plot purchase

Positioned between DIFC and Downtown Dubai, the land plot is close to Index Tower and Central Park Towers. The developer said that design work on Arada’s high-end residential project next to DIFC has already begun, and full details will be revealed next year.

Prince Khaled bin Alwaleed bin Talal, Vice Chairman of Arada, said, “This acquisition marks a significant step in strengthening our standing as one of the UAE’s most prominent master developers.” He said, “The site is our third prime location in Dubai and underscores our commitment to deliver exceptional projects and contribute to this thriving city’s powerful and dynamic real estate market.”

The announcement from Arada comes at the end of a strong year for Dubai’s property sector, which has seen a 37 per cent rise in the value of real estate transactions during the first nine months of this year to Dh430 billion, compared to the same period last year.

Abdulla Qassem, Chairman of Rital Properties, said, “We are passionate about fuelling Dubai’s economic engine and supporting innovative projects that solidify its position as a global hub for luxury living.”

Arada launched its first project in Dubai, Jouri Hills at Jumeirah Golf Estates, at the end of