Sharjah’s Arada posts 186% jump in H1 2023 sales

Sharjah’s Arada posts 186% jump in H1 2023 sales

Arada Developments posted a 186 per cent increase in H1 2023 sales to a record $1.2bn (Dhs4.26bn), as the demand for lifestyle communities in Sharjah and Dubai continues to gather momentum. The developer sold 1,616 homes at its communities during the first half of the year, a 23 per cent increase on the same period in 2022. “The Sharjah government’s decision to allow all nationalities to purchase property on a freehold basis has had a significant positive impact on our sales in the emirate, and the increased interest from around the world is helping to boost foreign direct investment into Sharjah,” said Prince Khaled bin Alwaleed bin Talal, vice chairman of Arada. “We’re also delighted with the response to the launch of our first Dubai project, which sets the platform for the additional new projects we are planning to launch there in the very near future.” Arada’s best-performing community in terms of sales was Masaar, the forested megaproject based in the up-and-coming Suyoh district of Sharjah. The property developer sold 813 homes in Masaar valued at Dhs2.34bn during the first half of 2023, 200 per cent compared to the same period a year earlier. Masaar, which is left with one