Ahmed Alkhoshaibi, the CEO of Arada Developments, the leading Sharjah-based real estate developer, has announced the company’s plans to open new offices outside of Sharjah within the first half of 2019 specifically in Abu Dhabi, the capital emirate of the UAE, and the Kingdom of Saudi Arabia.
Arada is known for multiple projects in Sharjah including the $6.5bn mixed-used master development of Aljada, and Nasma Residences, a residential development that spans more than 46 hectares of land.
Commenting on the expansion announcement, Arada’s CEO said that the real estate market of Saudi Arabia is a major opportunity for Arada Developments.
Alkhoshaibi also added that Arada’s projects have been receiving growing interest from the Saudi citizens who have purchased 250 units in Aljada and Nasma Residences over the course of 2018 which urged the developer to decide to open a sales centre for itself in Riyadh.
On the other hand, Arada has also been receiving growing demand on its projects from the UAE capital, most evidently when it unveiled East Village, the second phase of Aljada, at Cityscape Abu Dhabi, and again when it sat up a booth Bawabet Al Sharq mall at the beginning of last February.
It is also worth mentioning that Arada has also made another successful presence in Cityscape Global 2018 in Dubai, where it has successfully sold 650 homes for $148m.
This comes as the first step of Arada’s plans to promote its projects to the other major markets of the GCC; it will be also attending Cityscape Jeddah 2019 in the Saudi Kingdom’s second biggest city, and Oman Real Estate Expo in Muscat, both will be held in the next April.
As for the progress of its projects’ construction, Arada announced that it has finished 60% of Nasma Residences in last September. On the other hand, it has revealed its Smart City plans for Aljada master development in last November.