Aldar and Arada have formed a strategic partnership covering approximately AED15bn, or US$4.1bn, of development opportunities at Seih Sdeirah and Yas Island in Abu Dhabi.
The initial agreements include a masterplan joint venture for a mixed-use community at Seih Sdeirah, near the Abu Dhabi–Dubai border. The proposed development will occupy as much as 1.5 million square metres and include villas, townhouses, retail space and recreational amenities.
Arada will lead development and construction management, while the two companies will jointly brand and sell the community. The partnership represents Arada’s first development presence in Abu Dhabi.
Separately, Arada has acquired three residential development plots from Aldar on Yas Island. The sites have a combined area exceeding 27,500 square metres and almost 130,000 square metres of gross floor area. Two of the plots face the island’s canal.
The agreements represent the first phase of a broader partnership rather than a construction award. They establish a future pipeline for masterplanning, architecture, infrastructure design, enabling works, villa and townhouse construction, landscaping, retail facilities and waterfront engineering.
Sources: Arada, Emirates News Agency.