Aldar and Arada announced a landmark strategic partnership comprising major development opportunities on Yas Island and at Seih Sdeirah in Abu Dhabi, representing a combined value of approximately AED15 billion.

The initial agreements comprise a strategic masterplan joint venture between Aldar and Arada to develop a large-scale mixed-use community at Seih Sdeirah on the Abu Dhabi – Dubai border and Arada’s acquisition of three residential development plots on Yas Island.

The partnership is a major milestone for Arada, marking its first development presence in Abu Dhabi. It brings together Aldar’s scale, strategic landbank and established development platform in the emirate with Arada’s complementary development expertise and track record in delivering large-scale communities.

In the presence of Prince Khaled bin Alwaleed bin Talal Al Saud, Executive Vice Chairman of Arada, and Talal Al Dhiyebi, Group Chief Executive Officer of Aldar, the agreements were signed by Jonathan Emery, Chief Executive Officer of Aldar Development, and Ahmed Alkhoshaibi, Group Chief Executive Officer of Arada.

Talal Al Dhiyebi said, “This partnership brings together two leading UAE developers with complementary capabilities and a shared ambition to create high-quality destinations. The opportunities on Yas Island and at Seih Sdeirah establish a strong foundation for our collaboration with Arada, and we see significant potential to build on the partnership across sectors and geographies in the UAE.”

Ahmed Alkhoshaibi said, “Aldar’s scale, vision and established platform in Abu Dhabi create exactly the right foundation for the kind of communities we intend to build here, and the opportunities ahead of us, across both Abu Dhabi and elsewhere across the UAE, are considerable. This is the beginning of what we intend to be a long and productive collaboration, and we look forward to what we will build together.”

At Seih Sdeirah, Aldar and Arada will co-develop a large-scale mixed-use community, covering up to 1.5 million sqm of land. Envisaged as a villa and townhouse community incorporating retail and recreational amenities, the development will draw on the respective capabilities of both partners, with Arada leading development and construction management and Aldar and Arada jointly branding and selling the community.

On Yas Island, Arada has acquired three development plots from Aldar for new residential projects within one of the UAE’s leading lifestyle destinations. The three plots, including two canal-facing sites, have a combined plot area of over 27,500 sqm and total gross floor area of almost 130,000 sqm.

The acquisition will enable Arada to develop premium residential communities across the plots, marking the company’s first development projects in the Abu Dhabi market while supporting the continued expansion of Yas Island’s residential offering.

The Yas Island and Seih Sdeirah transactions represent the first phase of the strategic partnership, with Aldar and Arada planning to explore further collaboration across sectors, asset classes and locations in the UAE.

Source: WAM