Arada awards infra design contract for $6.5bn Aljada project
Arada has awarded the infrastructure design contract for Aljada, Sharjah’s largest mixed-use project, to professional services firm Jacobs Engineering Group Inc
UAE-based developer Arada has awarded the infrastructure design contract for Aljada, Sharjah’s largest mixed-use project, to Jacobs Engineering Group Inc.
The project is set to break ground in the first quarter of the year, with the contract forming part of the overall $326.7m (AED1.2bn) infrastructure package for Aljada.
Jacobs will manage all aspects of infrastructure delivery for the project, including roads, water, power and drainage, ensuring full integration with the overall masterplan.
Aljada, a more than 2 million square-metre master-planned destination with a sales value of $6.5bn (AED24bn), was unveiled by HH Sheikh Dr Sultan bin Muhammad Al Qasimi, Supreme Council Member and Ruler of Sharjah, during a ceremony in early September 2017.
The project will be delivered in phases starting in 2019, with the entire development expected to be completed by 2025.
HE Sheikh Sultan bin Ahmed Al Qasimi, chairman of Arada, said: “This is a significant milestone for Aljada, as we continue to work towards breaking ground on this megaproject by the end of the first quarter. We are pleased to be partnering with Jacobs, a company with an excellent track record in delivering world-class projects around the world.”
In early January, Arada announced that it had secured a $272m (AED1bn) Islamic financing facility with two major UAE banks, Abu Dhabi Commercial Bank and Dubai Islamic Bank, to help fund the development of Aljada.