Aldar and Arada have signed a strategic partnership covering two major development opportunities in Abu Dhabi, with a combined value of approximately AED15 billion.
The agreements, announced Wednesday, cover a joint venture masterplan at Seih Sdeirah on the Abu Dhabi-Dubai border and Arada’s acquisition of three residential plots on Yas Island. Both companies have described the transactions as the first phase of a broader collaboration across asset classes and locations in the UAE.
The signing took place 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, CEO of Aldar Development, and Ahmed Alkhoshaibi, Group CEO of Arada.
At Seih Sdeirah, the two developers will co-develop a large-scale mixed-use community across up to 1.5 million sqm of land. The project is envisaged as a villa and townhouse community with retail and recreational amenities. Arada will lead development and construction management, while both companies will jointly brand and sell the community.
On Yas Island, Arada has acquired three plots from Aldar, including two canal-facing sites. The plots have a combined area of over 27,500 sqm and a total gross floor area of almost 130,000 sqm. The acquisition marks Arada’s first development presence in Abu Dhabi.
“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,” Talal Al Dhiyebi, Group Chief Executive Officer of Aldar said in a statement.
“This partnership with Aldar marks a significant moment in Arada’s journey in the UAE. 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,” Ahmed Alkhoshaibi, Group Chief Executive Officer of Arada added.
Both executives indicated the two transactions are an opening move rather than a ceiling, with further joint opportunities under active consideration.
