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The Palm Jumeirah in Dubai.

PHOTO BY ARCHIVE


Sharjah’s Arada buys Dh240 million land on Palm Jumeirah

 

DUBAI – Sharjah-based development company Arada has entered the Dubai property market with the purchase of Dh240 million beachfront land on Palm Jumeirah.

This is the developer’s first project outside Sharjah. Arada bought the plot from master developer Nakheel.

The 20,500sqm plot is the last remaining beachfront land on The Palm’s East Crescent. the site is close to the Waldorf Astoria Dubai Palm Jumeirah.

Arada reportedly plans to build residential properties as well as leisure and F&B properties on the beachfront. The sales launch will be in the third quarter of 2022.

“This is a landmark moment for Arada, allowing us to diversify into one of the world’s most respected and competitive real estate markets,” said Prince Khaled bin Alwaleed bin Talal, Vice Chairman of Arada.

Arada has developed 2,200 homes under the Nasma Residences and is constructing the 5,000-unit Aljada megaproject in Sharjah. Arada’s projects also include Masaar, an upscale community with 4,000 villas and townhouses. ICA/Expat Media


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