ARADA
| File:Arada Logo CMYK English.png | |
| Privately Held Company | |
| ISIN | 🆔 |
| Founded 📆 | 2016 |
| Founder 👔 | |
| Headquarters 🏙️ | Sharjah, United Arab Emirates |
Area served 🗺️ | |
Key people | Sheikh Sultan bin Ahmed Al Qasimi (Chairman), Prince Khaled Bin Alwaleed Bin Talal Alsaud, (Vice Chairman), Ahmed Alkhoshaibi (CEO), |
| Products 📟 | Real Estate |
| Members | |
Number of employees | 151 (2018) |
| 🌐 Website | ARADA |
| 📇 Address | |
| 📞 telephone | |
ARADA is a property development company, based in Sharjah, in the United Arab Emirates.
History
ARADA is a privately held property development company, based in the United Arab Emirates, with an initial focus on the emirate of Sharjah..[1]. The company was founded in December 2016 by Sheikh Sultan bin Ahmed Al Qasimi, chairman of Basma Group, and Prince Khaled bin Alwaleed bin Talal Alsaud, chairman of KBW Investments [2].
Projects
Nasma Residences
Launched in March 2017, Nasma Residences is a housing project in the Al Tay suburb of Sharjah [3]. The project is scheduled to be completed by the end of 2019 [4].
Aljada
Launched in September 2017, Aljada is a large mixed-use development spread over a 24 million square foot area in the Muwaileh suburb of Sharjah. [5]
The masterplan for Aljada includes housing, a business park, shops, hotels and schools as well as a leisure and entertainment complex, which is being designed by Zaha Hadid Architects. [6].
Construction work on Aljada began in the first quarter of 2018, with the entire project scheduled for completion in 2025. [7].
In December 2017, ARADA secured AED 1 billion in Islamic financing from two banks in the United Arab Emirates to help fund the development of the project. [8].
In April 2018, ARADA signed a deal with Emaar Properties Hospitality Group to open three hotels in Aljada. [9]
Anantara Sharjah Resort
In December 2017, ARADA announced that it would open Sharjah’s first Anantara-branded hotel in conjunction with Basma Group. The Anantara Sharjah Resort, which is due to open in mid-2020, will have 233 rooms. [10]
External links
References
- ↑ "UAE property developer secures 1 bln dirham loan for mega-project | Reuters". Reuters.
- ↑ "New developer Arada targets UAE's mid-market housing sector The National". The National.
- ↑ "New developer gets cracking with residential community in Sharjah | Gulf News". Gulf News.
- ↑ "UAE: $408m Nasma Residences to complete in 2019 | Construction Week". Construction Week.
- ↑ "UAE developer to build biggest-ever real estate project in Sharjah | The National". The National.
- ↑ "Sharjah developer awards contract to late Zaha Hadid's firm | Gulf News". Gulf News.
- ↑ "UAE property developer launches $6.5 bln Sharjah project | Reuters". Reuters.
- ↑ "UAE property developer secures 1 bln dirham loan for mega-project | Reuters". Reuters.
- ↑ "BRIEF-Emaar Hospitality Group and ARADA Join Hands To Launch Three Hotels In Sharjah | Reuters". Reuters.
- ↑ "Minor Hotels to launch first Anantara resort in Sharjah | Hotelier Middle East". Hotelier Middle East.
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