Aldar Properties and Arada have announced a strategic partnership representing approximately AED 15 billion in development opportunities across Yas Island and Seih Sdeirah in Abu Dhabi.
The partnership marks Arada’s first development presence in Abu Dhabi and establishes the foundation for a longer-term collaboration between the two UAE developers.
As part of the initial agreement, Aldar and Arada will form a joint venture to co-develop a large-scale mixed-use community spanning up to 1.5 million sqm at Seih Sdeirah on the Abu Dhabi-Dubai border.
The project is envisioned as a villa and townhouse community with retail and recreational amenities. Arada will lead development and construction management, while Aldar and Arada will jointly brand and sell the community.
Separately, Arada has acquired three development plots from Aldar on Yas Island for new residential projects. The plots include two canal-facing sites and have a combined area exceeding 27,500 sqm, with a total gross floor area of almost 130,000 sqm.
The Yas Island and Seih Sdeirah transactions represent the first phase of the partnership, with both companies planning to explore further collaboration across sectors, asset classes and locations in the UAE.
Source: Aldar Properties
Disclaimer: This article is for informational purposes only and should not be construed as investment, financial, or legal advice.
