Leading Sharjah developer Arada has awarded two contracts worth AED2.04 billion ($555.48 million) for the next set of 2,210 homes to be built within the northern emirate’s mega AED35-billion ($9.5 billion) Aljada project.
The deals cover main construction activities across 14 residential blocks. The construction of the five Nesba buildings on East Boulevard and the five Safa buildings on West Boulevard is being undertaken by China Tiesiju Civil Engineering Group, a subsidiary of global construction giant China Railway Group.
The contract for The Gate blocks 3-6, situated across the community’s southern entrances, has been awarded to Kuwait-headquartered Mohammed Abdulmohsin Al Kharafi and Sons, one of the most experienced contractors in the region. The company had earlier partnered with Arada on other projects in Aljada, Masaar and Nasma Residences.
Both contracts will be completed within a 26-month period, with all blocks set for delivery in Q2 2028, ahead of the completion of one of community anchors, Madar Mall, said the developer in a statement.
Each of the construction contracts involves the delivery of modern apartment blocks, with units ranging from one- to four-bedroom family spaces.
Ngannou creates history with prized Armani Beach Residences buy.
In another development, Arada said it has begun the handover of five new residential blocks within Naseej District, the creative hub of its Aljada megacommunity.
Each of the 482 homes in the five Sokoon buildings is close to an array of quality cultural, artistic and retail destinations, including Il Teatro, a landmark performing arts space that has been designed by Japanese architect Tadao Ando.
With contemporary design and views of open courtyards and green spaces, the Sokoon buildings comprise one-, two- and three-bedroom apartments with smart home features included as standard.
In addition to these amenities, Sokoon residents will have private access to gyms, swimming pools, children’s play areas and dedicated spaces for family barbecues, said the developer.
With this Sokoon buildings completion, the overall number of Aljada’s finished residential units has now risen to more than 8,200.
Also last month (March), the Emirati developer achieved a key milestone with the sale of a five-bedroom residence at Armani Beach Residences at Palm Jumeirah for AED92.5 million ($25 million) to Francis Ngannou, the Cameroonian former UFC heavyweight champion and professional boxer.
The property, which spans 11,521 sq ft and features a private pool, underscores continued investor appetite for branded luxury residences in Dubai, particularly in prime waterfront locations such as Palm Jumeirah.
Armani Beach Residences at Palm Jumeirah, which offers a select collection of 57 well-designed homes, is designed by Japanese Pritzker Prize-winning architect Tadao Ando and in partnership with Armani Group and Casa Interior Design Studio.
It offers panoramic views of the Arabian Gulf and Dubai’s skyline, alongside 90,000 sq ft of premium amenities.
Ahmed Alkhoshaibi, Group CEO of Arada, said: “This transaction speaks to the depth of conviction that global buyers have in Dubai’s property market – and specifically in what Armani Beach Residences at Palm Jumeirah represents.”
“There is no comparable project anywhere in the world: Tadao Ando’s architectural vision, Armani’s design legacy, and Palm Jumeirah’s unmatched position combine to create something that serious buyers recognise immediately,” he stated.
“Construction is progressing well and we remain on track for our 2027 completion,” he added.