Middle East

Sharjah’s Arada concludes Kuwaiti contractor with construction contract for Dhs322m

Arada, the developer of Sharjah, has signed a Dhs322m contract with Kuwaiti contractor Mohammed Abdul Mosen al-Kalafi & Sands (Al-Karafi) to build eight luxury condominiums in Al Jada.

The eight Thiraz buildings in Alhada consist of a total of 920 homes. The Dhs240bn megaproject, Aljada, is Sharjah’s largest multipurpose project to date.

Al-Kharafi has previously collaborated with Arada on the Nasma Residences project.

Construction of the Thiraz building will reportedly begin soon and will take 18 months to complete.

Arada CEO Ahmed Arkoshaibi said:

We have studios, one-bedroom and two-bedroom apartments. Smart home functionality is standard on all Tiraz apartments. Residents also have access to a health club, two swimming pools, a children’s playground and a family-friendly barbecue space.

The Thiraz building is part of the Nasiji district, and future construction contracts awarded to the district will include the Vida Alhada Hotel, a complex of residential and serviced apartments, five Socoon buildings and the Nasiji district museum. It will be. All of these contracts will be awarded in 2022.

This year, other components of the Alhada Master Plan over 24 million square feet will be completed. This includes the third and fourth Misk Apartments buildings, which will be completed in March, and the second and final phases of the SABIS International School – Aljada (SIS-Aljada), which will open in August.

Last year, Arada completed 1,200 homes in Alhada. This includes 12 apartment blocks and the first Sarabvilla community, and the first phase of SIS-Alhada. In Alhada, Arada sold 17,96 homes in 2021 for approximately 1.1 billion dirhams. The developers completed more than 1,200 homes in Aljada in 2021, and the first housing phase of the project is almost complete.

In 2022, Arada will also complete the East Village Complex, which consists of 16 apartment blocks, the Nest Student Housing Community, which consists of 12 apartment blocks, and Alhada’s second Sarab Villa community.

“Next year will be a game changer for Aljada. There are thousands of new homes with retail, education, F & B and entertainment assets all nearing completion and a significant increase in the community’s population,” Alkhoshaibi added.

Arata recorded sales of 2.41 billion dirhams in 2021, up 38% year-on-year. Last year, we sold 2,488 homes, an increase of 6% over the previous year.

Last month, developers announced their expansion into the neighboring United Arab Emirates. I bought the last remaining seaside lot in the Palm Jumeirah crescent. I bought a 20,500 square meter lot worth 240m from Nakheel.

read: Sharjah’s Arada enters Dubai’s real estate market and buys Dhs 240m land at Palm Jumeirah

https://gulfbusiness.com/sharjahs-arada-awards-dhs322m-construction-contract-to-kuwaiti-contractor/ Sharjah’s Arada concludes Kuwaiti contractor with construction contract for Dhs322m

Back to top button