Arada Capital, the investment arm of Arada Group, has signed a memorandum of understanding with Alya, a newly established institutional residential development platform, to co-develop premium residential and mixed-use projects across the UAE and Saudi Arabia.
The initial focus is two residential developments with a combined gross development value of approximately AED 6 billion. The projects under consideration are located in Downtown Dubai and Yas Island, Abu Dhabi, though both remain subject to due diligence, commercial agreement and regulatory approvals.
Alya is backed by Brookfield and Lunate, the Abu Dhabi-headquartered global investment firm with more than US$125 billion in assets under management. The partnership pairs Arada Group’s development pipeline and community-building track record with Alya’s institutional approach to governance, capital discipline and project delivery.
“Successful developments are built on strong partnerships, mutual trust, shared objectives and a commitment to creating long-term value. This proposed partnership combines those strengths with Arada’s established track record in creating communities. Our shared ambition is to create homes of enduring quality and value, for the people who live in them and those who invest in them,” Otto Dreyer, Chief Executive Officer of Alya said in a statement.
“This partnership represents an important milestone in Arada Capital’s ambition as a fund manager. By combining Arada Group’s established development capabilities and access to high-quality opportunities with Alya’s institutional expertise and the strength of its backing from Brookfield and Lunate, we see significant potential to bring forward premium residential projects distinguished by their quality, thoughtful design and disciplined delivery,” Moustafa Fahour, Chief Executive Officer and Managing Director of Arada Capital added.
The two parties have indicated the initial projects form part of a broader pipeline of opportunities still being evaluated.
