Aldar, Arada sign AED15 billion partnership for Abu Dhabi developments

Aldar and Arada have signed a AED 15 billion partnership to develop premium residential communities in Abu Dhabi's Yas Island and Seih Sdeirah.

At Seih Sdeirah, Aldar and Arada will co-develop a large-scale mixed-use community, covering up to 1.5 million sqm of land. Envisaged as a villa and townhouse community incorporating retail and recreational amenities, the development will draw on the respective capabilities of both partners, with Arada leading development and construction management and Aldar and Arada jointly branding and selling the community.

On Yas Island, Arada has acquired three development plots from Aldar for new residential projects within one of the UAE’s leading lifestyle destinations. The three plots, including two canal-facing sites, have a combined plot area of over 27,500 sqm and total gross floor area of almost 130,000 sqm.

The acquisition will enable Arada to develop premium residential communities across the plots, marking the company's first development projects in the Abu Dhabi market while supporting the continued expansion of Yas Island's residential offering.

"The opportunities on Yas Island and at Seih Sdeirah establish a strong foundation for our collaboration with Arada, and we see significant potential to build on the partnership across sectors and geographies in the UAE," said Talal Al Dhiyebi, Group Chief Executive Officer of Aldar.

"This is the beginning of what we intend to be a long and productive collaboration, and we look forward to what we will build together," added Ahmed Alkhoshaibi, Group Chief Executive Officer of Arada.