Aldar and Arada has announced a landmark strategic partnership comprising major development opportunities on Yas Island and at Seih Sdeirah in Abu Dhabi, representing a combined value of approximately AED 15bn.
The initial agreements comprise a strategic masterplan joint venture between Aldar and Arada to develop a large-scale mixed-use community at Seih Sdeirah on the Abu Dhabi – Dubai border and Arada’s acquisition of three residential development plots on Yas Island.
The partnership is a major milestone for Arada, marking its first development presence in Abu Dhabi. It brings together Aldar’s scale, strategic landbank and established development platform in the emirate with Arada’s complementary development expertise and track record in delivering large-scale communities.
“This partnership brings together two leading UAE developers with complementary capabilities and a shared ambition to create high-quality destinations.
“The opportunities on Yas Island and at Seih Sdeirah establish a strong foundation for our collaboration with Arada, and we see significant potential to build on the partnership across sectors and geographies in the UAE.”
Talal Al Dhiyebi, Group Chief Executive Officer, Aldar
In the presence of HRH Prince Khaled bin Alwaleed bin Talal Al Saud, Executive Vice Chairman of Arada, and Talal Al Dhiyebi, Group Chief Executive Officer of Aldar, the agreements were signed by Jonathan Emery, Chief Executive Officer of Aldar Development, and Ahmed Alkhoshaibi, Group Chief Executive Officer of Arada.
“This partnership with Aldar marks a significant moment in Arada’s journey in the UAE. Aldar’s scale, vision and established platform in Abu Dhabi create exactly the right foundation for the kind of communities we intend to build here, and the opportunities ahead of us, across both Abu Dhabi and elsewhere across the UAE, are considerable.
“This is the beginning of what we intend to be a long and productive collaboration, and we look forward to what we will build together.”
Ahmed Alkhoshaibi, Group Chief Executive Officer, Arada
At Seih Sdeirah, Aldar and Arada will co-develop a large-scale mixed-use community, covering up to 1.5 million sqm of land. Designed as a villa and townhouse community incorporating retail and recreational amenities, the development will draw on the respective capabilities of both partners. Arada will lead on the development and construction management. Aldar and Arada will brand and sell the community.
On Yas Island, Arada has acquired three development plots from Aldar for new residential projects. The three plots, including two canal-facing sites, have a combined plot area of over 27,500 sqm and total gross floor area of almost 130,000 sqm. The acquisition provides Arada with opportunity to develop premium residential community across the plots, bringing its signature approach to lifestyle-led placemaking to the Abu Dhabi market for the first time, while supporting the continued expansion of Yas Island’s residential offering.
The Yas Island and Seih Sdeirah transactions represent the first phase of the strategic partnership between Aldar and Arada. Building on these initial opportunities, both companies intend to explore further areas of collaboration across sectors, asset classes and geographies in the UAE.
