Arada marks international debut with expansion into high-demand Australian residential market
News: 15 August 2024
- Master developer’s initial projects to deliver 2,500 units in Sydney
- Sales and construction to begin in 2025
- Extended project pipeline valued at AED6 billion
Arada has announced its first expansion outside its home UAE market with the launch of operations in Australia. The Dubai-based master developer has set up a new office in the Sydney suburb of Pyrmont, and is already planning multiple projects in Australia’s most populous city. Valued at AED6 billion, Arada’s extended pipeline of projects will aim to contribute towards urban renewal required to address the current housing shortage in Sydney.
Adding over 2,500 homes to the Sydney housing market, sales and construction for Arada’s initial projects will begin in 2025. With significant land holdings, the sites will deliver extensive commercial and retail components, providing significant employment opportunities in the local community.
Since inception, Arada has been led by its Australian-born Group Chief Executive Officer, Ahmed Alkhoshaibi, who is also spearheading the Australian operations and business growth.
Ahmed Alkhoshaibi, Group Chief Executive Officer, Arada, commented: “Launching in Australia marks a pivotal moment for Arada as we continue to realise our vision of integrated residential communities that help people lead happier, healthier and more meaningful lives.
“Arada is passionate about delivering activated precincts that deliver 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 minimizing 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.”
In Australia, Arada will continue to deliver high-quality, diverse housing options that offer innovative facilities and amenities, alongside events and activations for residents and their friends to enjoy in the surrounding area. Its developments will feature premium amenities including green spaces, retail outlets and Arada’s own fitness and wellbeing offering, Wellfit, which focuses on providing active, healthy living for the whole family via state-of-the-art facilities.
Arada has partnered with globally renowned architecture practice Woods Bagot to design and deliver its vision to the Australian market.
Since its launch in 2017, Arada has launched six successful projects in both Sharjah and Dubai, with a combined sales value of AED60 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 master developer announced a 100% increase in the total value of property sold to AED7.02 billion, compared to the previous year. In total, Arada has sold 14,000 units since inception, valued at over AED17 billion, with over 9,000 units completed.
