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  • 09-11-21

    Arada property development firm to initiate five projects

    (MENAFN) Arada, property development firm is initiating five housing projects and is aiming for sales of up to Dh2.4 billion (USD653 million) in 2021 and Dh3bn (about USD 816.7) within next year as it takes advantage of the continuing rebound in the UAE’s real estate market.

    As stated by Ahmed Alkhoshaibi, chief executive of Arada, the firm's new introductions are going to involve serviced flats and other housing units at its Dh24bn Aljada master development in Sharjah.

    Arada is a combined venture between KBW Investments, a firm managed by Khaled bin Alwaleed, Saudi Arabia’s Prince as well as Basma Group of Sharjah.

    Alkhoshaibi also stated that the work on the four plans is going begin in 2021, whereas one project titled Boulevard 3 is currently under creation, leaving out details regarding the overall cost.

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