Latest news with #Arada
Zawya
4 minutes ago
- Business
- Zawya
Arada awards AED678mln construction contract for Armani Beach Residences at Palm Jumeirah to China Railway Group subsidiary
First phase of construction is complete with enabling, piling and shoring works finished Dubai, United Arab Emirates – Arada has awarded the main construction contract for the ultra-luxury Armani Beach Residences at Palm Jumeirah to a subsidiary of global construction giant China Railway Group Ltd (CREC). Valued at AED678 million, the contract will result in the development of the landmark project by the end of 2027. CREC subsidiary China Tiesju Civil Engineering has extensive experience across the Middle East, Africa, Latin America and Asia in executing complex projects. The conglomerate's track record of on-time delivery to an exceptional level of quality underscores Arada's commitment to setting a new standard for the high-end Dubai residential market. Designed in partnership with Armani/Casa Interior Design Studio and the Pritzker-Prize-winning Japanese architect Tadao Ando, Armani Beach Residences at Palm Jumeirah features panoramic views of the Arabian Gulf and Dubai's famed skyline, as well as 90,000 square feet of high-quality amenities and 57 individually designed homes. Ahmed Alkhoshaibi, Group CEO of Arada, said: 'This appointment marks a key step forward for a project that stands as one of Dubai's most anticipated ultra-luxury developments, and is in line with our promise to work with world-class partners on this landmark project. Set against the iconic backdrop of Palm Jumeirah, Armani Beach Residences reflects Arada's ambition to deliver exceptional design, craftsmanship, and a truly elevated lifestyle experience.' Launched in 2024, Armani Beach Residences at Palm Jumeirah has set a new benchmark for design-led ultra-luxury beachfront living in Dubai, combining minimalism, natural harmony and refined detail with impressive views of the Arabian Gulf and Dubai's skyline from the outer crescent of the iconic man-made islands. Every beautifully appointed home is defined by a desire to bring extravagant ocean and skyline views into its interior, with a wide array of configurations including including two-, three-, four-, five-bedroom and penthouse residences all offering unrestrained access to the exterior view. Armani Beach Residences at Palm Jumeirah also includes two presidential suites, which combine numerous different internal function areas – including a contemplative courtyard space with reflective pool, a personalised gym, libraries, a private cinema, and a private parking lounge with space for seven cars – with an opulent mega-terrace featuring an infinity pool. Buyers of penthouses and presidential suites will have the opportunity to work directly with Armani/Casa to deliver a truly bespoke interior scheme for their homes. The project was named Best Branded Residence at Robb Report's Best of the Best 2024 and also won Waterfront Project of the Year at the 2024 Pillars of Real Estate Awards. The show apartment for Armani Beach Residences at Palm Jumeirah is available for viewing at the Arada sales office in City Walk. About Arada Launched in 2017 and headquartered in the UAE, Arada was created to build spaces people connect with for healthier, happier and more meaningful lives. Arada's scope of operation covers property development, retail, education, healthcare, fitness, wellness and hospitality. The master developer has so far launched nine record-breaking communities in the UAE and has expanded into the Australian market, opening an office in Sydney in 2024. Arada also operates a portfolio of complementary brands and experiences, which includes large-scale gyms, F&B and retail assets, social initiatives and visitor destinations. For more information and high-resolution images contact media@ For more information about Arada:
Arabian Post
4 days ago
- Business
- Arabian Post
Arada Eyes $500 Million Sukuk to Fuel Gulf Land Acquisitions
Arada Developments, the Sharjah-based property developer, is preparing to raise up to $500 million via an Islamic bond as it joins a wave of Gulf real estate firms turning to debt markets to fund expansion. The group plans to launch the issuance next week to finance new land purchases and capitalise on a construction surge across the United Arab Emirates. The proposed sukuk issue represents a strategic step for Arada to strengthen its position amid intensified regional economic diversification efforts and an escalating boom in property development across the UAE. With past sukuk issuances drawing strong demand, the company aims to repeat that success to secure favourable financing terms. Arada previously issued a $400 million sukuk in June 2024 under its $1 billion programme, followed by a $150 million tap in September that attracted an order book exceeding $1.45 billion. In September 2022, the firm also issued a benchmark $500 million debut sukuk, tightening from initial guidance and attracting strong investor interest. ADVERTISEMENT Regional corporate sukuk issuance has surged, offsetting a dip in sovereign debt. LSEG data show corporate bond and sukuk sales climbed 52% year‑on‑year in the GCC during the first five months of 2025, even as total issuance fell overall. UAE debt issuance grew in the first half of 2025, although green bond and sukuk volumes declined sharply. Within the UAE, developers such as Sobha Realty and Omniyat also issued $500 million sukuk in May, highlighting strong appetite in the Islamic finance market for real estate funding. The overall trend underlines a rising preference for sharia‑compliant financing instruments to support both corporate needs and state diversification agendas. Founded in 2017 by Sharjah's deputy ruler Sheikh Sultan bin Ahmed Al Qasimi and Saudi Prince Khaled bin Alwaleed bin Talal Al Saud, Arada has rapidly scaled its presence in Sharjah and Dubai, launching developments valued at AED 60 billion and exploring international expansion into Australia. The company also plans to enter the Australian market fully by the end of 2025. Arada's prior promises to land acquisitions and project funding seem to extend with this latest sukuk. The proceeds will directly support the acquisition of new land parcels, ensuring the company can sustain its pipeline of projects including township developments, wellness‑focused residential schemes and branded hospitality offerings. The firm's decision to revert to debt markets follows its move early this month to seek approval for modifications to financial covenants on its existing $500 million trust certificates due 2027. Arada sought to raise leverage limits—net indebtedness to equity and EBITDA ratios—from current 1.5:1 and 3.0:1 to 2.0:1 and 4.0:1 respectively—prompting a consent solicitation that attracted strong holder engagement. A meeting on July 23 in London will finalise this vote. While global uncertainties—from oil price swings to geopolitical tensions—have weighed on capital markets, Gulf property developers have continued to tap sukuk issuance to spread costs and manage growth. Analysts argue that solid investor interest, particularly from Asia, sovereign wealth diversification and the Emirates' push into non‑oil sectors have sustained this demand.
Business Recorder
5 days ago
- Business
- Business Recorder
UAE developer Arada seeks $500 million Islamic bond as construction booms
DUBAI: United Arab Emirates property firm Arada Developments is seeking up to $500 million from an Islamic bond, or sukuk, two sources familiar with the matter said, as it joins other property firms tapping debt markets amid a construction boom in the Gulf state. Sharjah-based Arada would join a slew of Gulf property firms to issue bonds this year, which have tapped debt markets forfinancing needs and to capitalise on a real estate boom as Gulf countries accelerate economic diversification strategies. Arada plans to launch the bond next week and use funds from the debt sale to acquire new land, the sources said, declining to be named because they were not authorised to speak publicly. The plan was not yet finalised, they said. A spokesperson for Arada did not respond to a Reuters request for comment. Arada last tapped debt markets in September for a $150 million tap of its $400 million sukuk due 2029 which attracted strong demand and offered a yield of more than 7%. In the Middle East and North Africa, issuers raised a record $32.2 billion through sukuk in the six months to June 30, according to LSEG data, defying tariff uncertainty, geopolitical tensions and volatile oil prices. Regional developers which have raised Islamic debt this year include Dubai's Sobha Realty and Omniyat, both raising $500 million in May. Arada was established in 2017 by Sharjah's deputy ruler, Sheikh Sultan bin Ahmed AlQasimi and Prince Khaled bin Alwaleed bin Talal AlSaud, the son of Saudi billionaire Prince Alwaleed Bin Talal. It has projects and assets in its home country, and expects to launch sales and construction in Australia by the end of 2025. The company posted total revenue of $1.1 billion last year, up around 40% from 2023, according to a company presentation.
ME Construction
5 days ago
- Business
- ME Construction
Arada secures WiredScore Platinum certification for first phase of its CBD
Technology Arada secures WiredScore Platinum certification for first phase of its CBD By The commercial hub is set to be completed in Q1 2027 within the Aljada mega project Arada has announced it secured WiredScore Platinum certification for the first phase of its Arada Central Business District (CBD) located in Sharjah. The commercial hub, set to be completed in Q1 2027 within the Aljada mega project, is said to hold the distinction of being the first development in Sharjah to receive the certification. The first phase of Arada CBD will encompass 812,000sqft of Grade A leasable office space, 1,666 parking bays, 76,000sqft of landscaped green space, and 26,500sqft of retail and F&B outlets. These components are designed to foster a business environment by integrating lifestyle and wellness amenities. WiredScore Platinum holds the highest designation from WiredScore, the global benchmark for digital connectivity and smart building standards. This certification ensures that Arada CBD will provide world-class digital infrastructure for future tenants of the commercial district in Aljada. Earlier this year, Arada secured a construction contract worth $164.4mn for Phase 1 of Arada CBD, which will encompass the development of eight office buildings and associated infrastructure. Ahmed Alkhoshaibi, Group CEO of Arada said, 'WiredScore Platinum is a prestigious certification that affirms our commitment to resilient digital infrastructure tailored to modern business needs. With this milestone, Arada CBD positions itself as a national benchmark for smart, connected commercial environments. Tenants will benefit from advanced infrastructure and a strategic location, near the airport, planned passenger rail station and University City, while enjoying access to Aljada's vibrant lifestyle and residential offerings.' William Newton, CEO of WiredScore added, 'Achieving WiredScore Platinum for Arada CBD is a significant milestone not only for Sharjah, but for the region more broadly. Arada's ambition to create a digitally connected business hub at this scale sets a new benchmark for what future-ready office developments should look like. We're proud to be supporting a developer that truly understands how vital resilient, high-performing digital infrastructure is for businesses today and in the future.' John Hilliard, Director, Middle East of WiredScore commented, 'As the demand for certified smart and connected buildings continues to rise, Arada's commitment to best-in-class digital infrastructure places Sharjah firmly on the map as a forward-looking commercial destination. This certification signals to tenants that Arada CBD will deliver the digital reliability, speed and resilience that businesses demand, and is highly adaptable to their future requirements.' The milestone was celebrated during a ceremony at Aljada, attended by senior executives from both Arada and WiredScore. The event marked the formal handover of the WiredScore Platinum plaque and the signing of a portfolio-wide agreement. This agreement commits Arada to pursue WiredScore and SmartScore certification for 37 office buildings within Arada CBD, making it the UAE's first office-focused WiredScore portfolio collaboration. Certification work for Phase 2 of Arada CBD is already underway, reinforcing the developer's intent to apply consistent standards of digital connectivity across the entire district. The full Arada CBD master plan will include 38 office buildings across 4.3m sqft, anchored by a central green spine. The district will incorporate smart-city technologies for lighting, waste and traffic management and support a circular economy model, the statement concluded.
Sharjah 24
6 days ago
- Business
- Sharjah 24
Arada Central Business District awarded WiredScore Platinum
The highest designation from WiredScore WiredScore Platinum is the highest designation from WiredScore; the global benchmark for digital connectivity and smart building standards. This makes Arada CBD the first development in Sharjah to receive this certification, guaranteeing world-class digital infrastructure for future tenants of the commercial district in Aljada. Earlier this year, Arada awarded a construction contract worth AED604 million for Phase 1 of Arada CBD, covering the development of eight smart office buildings and associated infrastructure. Ahmed Alkhoshaibi, Group CEO of Arada, said: 'WiredScore Platinum is a prestigious certification that affirms our commitment to resilient digital infrastructure tailored to modern business needs. With this milestone, Arada CBD positions itself as a national benchmark for smart, connected commercial environments. Tenants will benefit from advanced infrastructure and a strategic location, near the airport, planned passenger rail station and University City, while enjoying access to Aljada's vibrant lifestyle and residential offerings.' This milestone was celebrated during a ceremony at Aljada attended by senior executives from both Arada and WiredScore. The event included the formal handover of the WiredScore Platinum plaque and the signing of a portfolio-wide agreement, which commits Arada to pursue WiredScore and SmartScore certification for 37 office buildings within Arada CBD, marking the UAE's first office-focused WiredScore portfolio collaboration. William Newton, CEO of WiredScore, said: 'Achieving WiredScore Platinum for Arada CBD is a significant milestone not only for Sharjah, but for the region more broadly. Arada's ambition to create a digitally connected business hub at this scale sets a new benchmark for what future-ready office developments should look like. We're proud to be supporting a developer that truly understands how vital resilient, high-performing digital infrastructure is for businesses today and in the future.' John Hilliard, Director, Middle East of WiredScore, said: 'As the demand for certified smart and connected buildings continues to rise, Arada's commitment to best-in-class digital infrastructure places Sharjah firmly on the map as a forward-looking commercial destination. This certification signals to tenants that Arada CBD will deliver the digital reliability, speed and resilience that businesses demand, and is highly adaptable to their future requirements.' Certification work for Phase 2 of Arada CBD is already underway Certification work for Phase 2 of Arada CBD is already underway, reinforcing the developer's intent to apply consistent standards of digital connectivity across the entire district. Scheduled for completion in Q1 2027, the first phase of Arada CBD will provide 812,000 square feet of Grade A leasable office space, 1,666 parking bays, 76,000 square feet of landscaped green space, and 26,500 square feet of retail and F&B outlets. These components are designed to create a premium business environment enhanced by integrated lifestyle and wellness amenities. The full Arada CBD master plan will include 38 smart office buildings across 4.3 million square feet, anchored by a central green spine. The district will incorporate smart-city technologies for lighting, waste and traffic management and support a circular economy model. Aljada is a 24 million square foot mega development featuring over 25,000 homes, retail, entertainment, sports, education, and wellness facilities. With seamless access within minutes to Sheikh Mohammed bin Zayed Road, Al Dhaid Road, Sharjah International Airport, and the upcoming Etihad Rail station, Aljada is reshaping Sharjah's urban landscape.
