International property developer Arada enters Australian market with key Sydney projects
Australia: 15 August 2024
UAE-based property developer Arada, today announced it has expanded its presence into the Australian property market. Arada has set up its operations, marked by a new Sydney head office in Pyrmont, and is already planning multiple projects in New South Wales. The developments will aim to contribute to the urban renewal required to address Sydney’s housing supply.
Arada is an internationally established property developer that has already delivered 9,000 homes with another 21,000 in the pipeline, and currently oversees a project portfolio valued at $24 billion. 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.
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.
Looking ahead, Arada is committed to working with local and state authorities to continue to provide solutions to lessen the pressure on first home buyers through the application of its successfully tested integrated residential community model.
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 NSW 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.”
Arada currently has $2.5 billion worth of projects in its extended pipeline for its Australian operations. The company’s developments are located within the Inner West, South West and Hills Shire suburbs and will together add 2,500 homes to the Sydney housing market. With significant land holdings, the sites will deliver extensive commercial and retail components, providing significant employment opportunities in the local community.
In addition, Arada has partnered with globally renowned architecture practice Woods Bagot to design and deliver its vision to the Australian market.
Construction and sales are scheduled to commence in 2025.
