The National: Sharjah’s Arada targets AED2 billion in sales by 2019 as it plans Dubai debut

The National: Sharjah's Arada targets AED2 billion in sales by 2019 as it plans Dubai debut

News: 21 April 2018

Company backed by Prince Alwaleed’s son eyes global expansion while progressing in Sharjah

Arada, the Sharjah-based real estate developer backed by the son of Saudi Prince Alwaleed bin Talal, is targeting Dh2 billion of revenues by next April, as it progresses unit sales on two schemes in Sharjah and ramps up plans to expand in Dubai, Saudi Arabia and Europe over the coming years.

“The founders of Arada set out a 5-10-year roadmap, where the focus was to become the leader in Sharjah,” said Arada chief executive Ahmed Alkhoshaibi in an interview with The National. “The next step is Dubai, with multiple projects, then we’ll be going to Saudi Arabia, then London or Milan or both.”

Arada is a joint venture between KBW Investments – a firm controlled by Saudi Arabia’s Prince Khaled bin Alwaleed bin Talal – and Basma Group.

It unveiled the 2.2 million square kilometre Aljada mixed-use community last year as Sharjah’s largest-ever scheme to date with a projected sales value of Dh24bn. The company has sold 90 per cent of phase one residential units and started sales for the second phase at the Cityscap

Read the full article here.