Dubai: Sharjah’s biggest developer sure is on a roll, with 2021 sales up a healthy 38 per cent to Dh2.41 billion. The gains were bolstered by the launch of the ‘forested’ all-villa community “Masaar’ and which clicked instantly with offplan buyers.
This year will see the developer make its first project launch outside of Sharjah. “We are determined to carry this momentum forward with an increased focus on home deliveries at our existing communities, alongside the launch of our first projects outside Sharjah,” said Prince Khaled bin Alwaleed bin Talal, Vice-Chairman. “Arada is now well-positioned as one of the region’s most prominent and active developers, with a clear road map for the coming years.”
Arada’s best-performing project in terms of sales was Masaar, which was the UAE’s first big-ticket offplan launch of last year. The developer sold 559 homes at Masaar with a value of a near D1.2 billion. (The first residential contract at the project is scheduled to be awarded this month.)
In total, Arada sold 2,488 homes last year, a 6 per cent increase. Its earlier project, Aljada, retains heavy buyer support, with 1,796 homes raising a combined Dh1.1 billion. The developer completed over 1,200 homes at Aljada during 2021, with the first residential phase near completion.
During 2021, Arada also awarded a number of major construction contracts at Aljada, including for the Nest student housing district, The Boulevard apartment buildings and the second Sarab garden villa community.