Aldar makes Sharjah debut with $300m Arada housing deal

• Nine residential buildings bought
• Expects healthy H2 performance
• ‘The market is still there’

Abu Dhabi developer Aldar Properties is entering Sharjah’s residential rental market through a deal with Arada, expanding its UAE portfolio as international buyer demand slows.

The AED1.1 billion ($300 million) deal with Sharjah-based Arada marks Aldar’s first investment in the emirate. Arada is owned by members of the Emirati and Saudi royal families.

The deal takes Aldar’s develop-to-hold pipeline of revenue-generating properties to AED21 billion, the company said.

Aldar will provide advance funding for the purchase of nine residential buildings, comprising of more than 1,100 units in Arada’s Aljada master community in the Muwaileh Commercial district. Delivery is scheduled for the fourth quarter of 2029.

Sheikh Sultan bin Ahmed Al Qasimi, deputy ruler of Sharjah, and Prince Khaled bin Alwaleed bin Talal, a member of the Saudi royal family and chief executive of KBW Ventures, founded Arada in the UAE in 2017. The company has been expanding rapidly in the emirates and overseas.

Sharjah spans 2,590 square kilometres and has a population of 1.8 million, making it the third-biggest of the seven emirates that form the UAE.

Housing demand in the emirate remained strong in the first nine months of 2026. Official data showed almost 20,000 homes were sold.

Residential transactions accounted for almost 81 percent of all real estate deals closed between January and September, the UAE state-run Wam news agency reported this week, citing data from the Sharjah Real Estate Registration Department.

Aldar’s investment builds on a AED15 billion partnership between the two developers, announced last month, to deliver property projects in Abu Dhabi.

It also follows Aldar’s expansion in Dubai through its joint venture with state-owned global investment holding company Dubai Holding and its subsequent solo acquisition of a project in Dubai Studio City.

Further reading:

• Aldar and Arada partner for Abu Dhabi projects worth $4bn
• Expatriates and foreigners drive sales at Aldar projects
• Inside Abu Dhabi’s war-defying property surge

Abu Dhabi-listed Aldar posted strong first-half net profit in July. Jonathan Emery, Aldar Development’s chief executive, told AGBI in London this week that the company expects its development revenue backlog and new sales to sustain healthy performance in the second half of 2026.

“The backlog plays out over two or three years so sales will come through that, and then we’ll continue to top that up with new sales,” he said.

Despite “a few disruptive factors” this year, notably the US-Israel war with Iran, “we’ve been able to maintain solid construction progress and the fundamentals that drive profit outcomes have held steady through the year,” Emery said.

“We’re definitely seeing a slowdown [in buyer demand], particularly among international customers, who are taking a little bit more time to think about things – not surprisingly,” he added.

However, offshore international expatriates and local UAE residents – who already account for a significant share of Aldar’s total sales – “are still supportive”, Emery said.

“We’ve found that if we get the product right and the pricing right the market is still there, as we demonstrated with Marsa Al Saadiyat recently. We just have to work that little bit harder.”

Aldar said in October it had sold out 351 villas at its Talay scheme, the first residential component of its luxury Marsa Al Saadiyat waterfront masterplan in Abu Dhabi.

The company expects to hand over more than 3,000 units in 2026 – its highest annual total since launch – with completions set to rise to 4,500 next year.

Aldar listed on the Abu Dhabi Securities Exchange in 2005 and its shares are down about 8 percent year to date.