UAE-based developer Arada reveals early sales success at $6.5bn Aljada
UAE-based developer Arada, the company behind Aljada, Sharjah's largest ever real estate project, has sold some 300 residential units, including villas and apartments, at Cityscape Global Dubai 2017.
Sheikh Sultan bin Ahmed Al Qasimi, chairman of Arada, told state news agency WAM that the sale was achieved within the first few hours of Aljada's launch at the real estate exhibition.
Occupying an area of 2.2 sq km, the Aljada urban district will boast a gross real estate value of $6.5 billion and a total population of approximately 70,000 people.
The master-planned megaproject will feature a diverse array of residential, commercial, retail, leisure, and entertainment offerings, as well as a dedicated business park.
Upon completion, the development will include a combination of stand-alone and semi-detached villas, townhouses, lofts, and apartments. Its residential units will be complemented by open spaces and community amenities, including schools, healthcare clinics, and mosques.
Aljada was developed in partnership between the Basma Group and KBW Investment Group. It also includes wide passageways surrounded by trees, extending over 4.4 kilometres to connect different areas of the project.