15 October 2026
Aldar, Abu Dhabi’s largest listed developer, announced on 15 October 2026 an AED 1.1 billion forward purchase agreement with Arada for three residential blocks in Aljada, Sharjah. The deal covers nine buildings with more than 1,100 units, which Arada will deliver in the fourth quarter of 2029. It is Aldar’s first real estate investment in Sharjah, and it lifts the company’s develop-to-hold pipeline, the assets Aldar builds or buys to keep and rent out, to AED 21 billion.
What Aldar bought in Aljada
Under a forward purchase agreement the buyer commits now to acquire buildings that the developer completes and hands over later. Here Arada keeps the construction and delivery, and Aldar takes the finished blocks into its rental portfolio at the end of 2029. The announcement does not split the price by building or by unit, and it does not give the payment schedule.
| Item | Detail |
|---|---|
| Buyer | Aldar, Abu Dhabi |
| Seller and developer | Arada, Sharjah |
| Type of deal | forward purchase agreement |
| Value | AED 1.1 billion |
| Scope | three residential blocks, nine buildings, more than 1,100 units |
| Delivery | Q4 2029, by Arada |
| Target residents | end users and long-term renters |
| Aldar develop-to-hold pipeline after the deal | AED 21 billion |
Aldar says the nine buildings will cater primarily to end users and long-term renters seeking quality housing at accessible price points within an established integrated community. Dividing AED 1.1 billion by more than 1,100 units gives an average of about AED 1 million per unit or slightly less. That is our arithmetic, not a figure from the companies, and the unit mix has not been published.
Why Sharjah and why Aljada
Talal Al Dhiyebi, Group Chief Executive Officer of Aldar, said: “Sharjah is a large and growing residential market, and Aljada provides an attractive entry point through one of the emirate’s leading master-planned communities. This investment is closely aligned with our develop-to-hold strategy, adding scale to our residential for rent portfolio while broadening our exposure to a new market.”
Ahmed Alkhoshaibi, Group Chief Executive Officer of Arada, called the transaction “a strong vote of confidence in Aljada and the wider Sharjah residential market” and said the two companies will look for further opportunities to work together across sectors.
Aljada is Arada’s flagship mixed-use master development. According to the announcement it covers 2.2 million sqm and is expected to hold about 25,000 homes at full build-out, with an anticipated gross sales value of AED 35 billion. Residential handovers began in 2021, and more than 8,800 units have been delivered across several districts. The community already has the Madar family entertainment district, two international schools, two hotels, the Nest student housing complex and more than 300,000 sq ft of occupied retail space. Arada Central Business District and Madar Mall are still to come. Aljada sits near Sheikh Mohammed bin Zayed Road and Al Dhaid Road, about seven minutes from Sharjah International Airport and around 20 minutes from Dubai International Airport.
The second Aldar and Arada deal in two weeks
The purchase follows the AED 15 billion development partnership the two companies announced on 30 September 2026. That agreement covers a villa and townhouse joint venture at Seih Sdeirah, on the Abu Dhabi and Dubai border, and Arada’s purchase of three residential plots on Yas Island, its first development presence in Abu Dhabi. We covered it in detail in Aldar and Arada sign AED 15 billion partnership for Seih Sdeirah and Yas Island. The Sharjah deal moves the relationship the other way: this time Aldar buys from Arada in Arada’s home emirate.
Arada is a joint venture between KBW Investments, controlled by Saudi Arabia’s Prince Khaled bin Alwaleed, and Sharjah-based Basma Group. The National notes that it has been expanding in the UAE and in markets such as the UK, Australia and Syria.
How the deal fits Aldar’s rental strategy
Develop-to-hold means Aldar keeps the homes and earns rent instead of selling units to individual buyers. The Aljada purchase follows a similar step in Dubai earlier this year. On 14 May 2026 Aldar bought a residential and community retail development in Dubai Studio City from private developer SRG, also for AED 1.1 billion: six mid-rise buildings with 312 units, a mall and a 16,000 sqm park, due for completion in 2028. The Dubai deal includes retail, so the price per unit is not directly comparable with Aljada.
According to The National, Aldar also plans to launch a large villa and townhouse development near Dubai Silicon Oasis by the end of 2026 and expects to hand over more than 3,000 units this year and up to 4,500 next year, citing Jonathan Emery, Chief Executive Officer of Aldar Development.
Sharjah property market in numbers
Two days before the deal, on 13 October 2026, Gulf News reported nine-month figures from the Sharjah Real Estate Registration Department:
- total transactions January to September 2026: AED 46.8 billion, up 5.6% from AED 44.3 billion a year earlier;
- number of transactions: 91,560, up 14% from 80,320;
- sales: 24,749 transactions worth AED 35 billion, up 2.1% by number;
- mortgages: 3,839 transactions worth AED 10.2 billion through 31 financing institutions;
- residential property: 80.5% of all sales transactions;
- 22 new residential, industrial and commercial projects registered.
What changes for residents, tenants and companies
For now, nothing changes on the ground: the buildings are due at the end of 2029. What the deal does show is that more than 1,100 future Aljada homes will be held by a single institutional landlord for long-term rent instead of being sold off-plan to individual buyers. For companies that house staff in Sharjah, or for families working in Dubai and living in Sharjah, that is a factor to note when the blocks reach the leasing market. Rents, unit types and leasing terms have not been announced.
For investors weighing their own purchase in Aljada or elsewhere in the northern emirates, the useful checklist does not change:
- who the developer is and whether its handovers are on schedule;
- completion date and payment plan, including what happens if delivery slips;
- ownership rules for foreign buyers in the specific area, which differ by emirate;
- financing: mortgage availability, down payment and the bank’s requirements for non-residents;
- expected rental demand from end users, not only resale value;
- service charges and running costs of the community.
How Atlant Capital can help
Many of our clients buy property in the UAE alongside a business move: a company first, then residency, a bank account and a home. We help set up a mainland or free zone company through our company setup service, arrange work visas and residency for founders and their families, and open corporate bank accounts with UAE banks. If you plan to finance a purchase, start with our guide to mortgages in the UAE for residents and non-residents, which sets out down payments, documents and the main differences between borrower profiles.
Bottom line
Aldar has agreed to buy nine Aljada buildings with more than 1,100 units from Arada for AED 1.1 billion, with delivery in Q4 2029. It is Aldar’s first property investment in Sharjah, the second deal between the two developers in two weeks, and it takes Aldar’s develop-to-hold pipeline to AED 21 billion. The homes are meant for long-term rent; rents and unit details are still to be published.
Source: The National, Sharjah24.
FAQ
What did Aldar buy in Sharjah?
On 15 October 2026 Aldar signed an AED 1.1 billion forward purchase agreement with Arada for three residential blocks in Aljada, Sharjah. The blocks comprise nine buildings with more than 1,100 units, to be delivered by Arada in the fourth quarter of 2029. It is Aldar’s first real estate investment in Sharjah.
What is a forward purchase agreement in UAE real estate?
It is a deal in which an investor agrees to buy buildings before they are completed, and the developer keeps responsibility for construction and handover. In the Aldar and Arada deal, Arada builds and delivers the nine Aljada buildings, and Aldar takes them into its rental portfolio on delivery in Q4 2029.
Will the Aldar homes in Aljada be sold or rented?
They are intended for rent. Aldar bought them under its develop-to-hold strategy, and the company says the nine buildings will cater primarily to end users and long-term renters seeking housing at accessible price points. Rents and unit types have not been announced.
How big is Aljada?
Aljada is Arada’s master development in Sharjah, covering 2.2 million sqm. At full build-out it is expected to hold about 25,000 homes with an anticipated gross sales value of AED 35 billion. More than 8,800 units have been handed over since 2021.
