Built to inform

Sign up for the daily newsletters

No, Thank you

Arada real estate sales grow by 30% in January-August 2019

Developer says it sold 1,801 units during the first eight months of this year despite 'tough conditions' in local real estate

Aljada is one of Arada's real estate projects in Sharjah.
Arada
Aljada is one of Arada's real estate projects in Sharjah.

Sharjah-based real estate developer Arada has reported an 86% increase in units sold during the first eight months of 2019, which saw its sales value rise by 30% in comparison to January to August 2018.

Despite “tough conditions” in the UAE property market, Arada said it sold 1,801 units from January to August 2019, adding that the Sharjah market had remained “resilient”.

In total, Arada has now sold 4,200 units across its Sharjah-based communities.

The developer will be showcasing both Aljada, Sharjah’s largest mixed-use megaproject, and Nasma Residences, which became Sharjah’s fastest-selling community when its first phase sold out in less than a month, during Cityscape Global, which takes place on 25-27 September 2019 at Dubai World Trade Centre.

Construction on Aljada is well under way, with the first homes scheduled to be handed over in the first quarter of 2020.

Commenting on the sales performance, Arada chairman, HE Sheikh Sultan bin Ahmed Al Qasimi, said: “These excellent results are testament to the strength of Sharjah’s property sector, where demand has endured and prices have remained stable in comparison to other markets in the region.

“We have achieved those results by listening to our buyers, tailoring our products to the needs of our consumers and providing real estate investment opportunities that we don’t believe can be found anywhere else in the Gulf.”

Most popular

Awards

Construction industry conversations around digitisation must evolve
The Middle East construction industry’s approach to tech must evolve and focus on how can

Conferences

CW In Focus | Inside the Leaders in KSA Awards 2019 in Riyadh
Meet the winners in all 10 categories and learn more about Vision 2030 in this
CW In Focus | Leaders in Construction Summit UAE 2019
A roundup of Construction Week's annual summit that was held in Dubai this September

Latest Issue

Construction Week - Issue 753
Nov 09, 2019