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Arada joins Dubai Islamic Bank as Aljada, Nasma hit sales records

Home sales within Aljada and Nasma Residences pass 4,000 units as chairman Sheikh Sultan commends performance

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 announced a partnership with Dubai Islamic Bank (DIB) to offer home-ownership options for buyers of its Aljada and Nasma projects, within which the developer has sold 4,000 homes over the last two years, with chairman of Arada, HE Sheikh Sultan bin Ahmed Al Qasimi, revealing that 2019 had resulted in Arada's "two best sales months". 

In a statement, Al Qasimi added: "To reach this sales milestone during a challenging period for the UAE real estate sector speaks volumes about the strength of the Sharjah property market.

“This new partnership with DIB represents yet another way in which we are making every effort to make our buyers’ lives easier and more efficient.

"We look forward to working closely with our partners as we accelerate the delivery process for our homes.”

The home financing partnership with DIB will allow property purchasers to access mortgage rates and flexible payment plans, in addition to processing without the need for salary transfer.

DIB is also opening a kiosk at Arada’s sales centre in Sharjah and has appointed a dedicated relationship manager to handle queries from Arada buyers.

Commenting on the tie-up, DIB's chief of home finance, Varun Sood, said: “As one of the most experienced and capable sharia'a-compliant lenders in the region, we have considerable expertise when it comes to providing transparent and efficient home financing solutions.

"We look forward to ensuring that Arada property buyers can benefit from our proficiency in this area as they prepare to move into their new homes.”

Arada has started handover on its first homes in Nasma Residences, which is due to complete by Q2 2020, with construction under way on all five of its phases. 

Construction is also progressing on Aljada, where the first homes are scheduled to be handed over in the first quarter of 2020.

Phase 1 of Aljada's Central Hub, a Zaha Hadid Architects-designed structure, will open in the third quarter of 2019. 

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Construction Week - Issue 753
Nov 09, 2019