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Property

UAE Based Arada Spreads Its Wings into high-demand Australian residential market

UAE Based Arada Spreads Its Wings into high-demand Australian residential market
  • PublishedAugust 16, 2024

Arada, a home-grown master developer from the UAE, has expanded its operations internationally by launching its first venture in Australia. In this new market, Arada plans to continue delivering high-quality, diverse housing options equipped with innovative facilities and amenities. These developments will feature premium amenities, including green spaces, retail outlets, and Arada’s own Wellfit fitness and wellbeing offering, which promotes active, healthy living for the entire family through state-of-the-art facilities.

The Dubai-based developer has established a new office in the Sydney suburb of Pyrmont and is already planning multiple projects in Australia’s largest city. Valued at AED 6 billion, Arada’s project pipeline is designed to contribute to the urban renewal efforts needed to address Sydney’s current housing shortage.

The initial projects, set to add over 2,500 homes to the Sydney market, are scheduled to begin sales and construction in 2025. With significant land holdings, these sites will also include extensive commercial and retail components, creating significant employment opportunities within the local community.

Arada has been led by its Australian-born Group Chief Executive Officer, Ahmed Alkhoshaibi, since its inception. He is now spearheading the company’s expansion into Australia. Commenting on the launch, Alkhoshaibi said, “Launching in Australia marks a pivotal moment for Arada as we continue to realize our vision of integrated residential communities that help people lead happier, healthier, and more meaningful lives.

“Arada is passionate about creating activated precincts that provide a community-based approach to housing supply. Our initial projects in Sydney are strategically located within growth corridors, aligning with local government initiatives to expand housing near transport hubs and minimize strain on existing infrastructure. With a strong financial position, an impressive track record, and a dedicated local team, we are poised to make a positive impact on our future residents and the communities we serve.”

Arada has partnered with globally renowned architecture firm Woods Bagot to design and deliver its vision in the Australian market. Since its launch in 2017, Arada has initiated six successful projects in Sharjah and Dubai, with a combined sales value of AED 60 billion. These include Sharjah’s largest-ever mixed-use megaproject, Aljada; the UAE’s first forested community, Masaar; and the ultra-luxury Armani Beach Residences at Palm Jumeirah.

In 2023, the developer announced a 100% increase in total property sales value, reaching AED 7.02 billion compared to the previous year. In total, Arada has sold 14,000 units since its inception, valued at over AED 17 billion, with more than 9,000 units completed.

Written By
William Faria

William Faria is an International Award winning journalist who has travelled extensively across the globe. He is attached to several media organizations in the Middle East & Africa region.

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