Dar and Arada form 15B dirham partnership in Abu Dhabi
Al Dar Group and Arada Company have signed a strategic partnership agreement valued at approximately 15 billion dirhams. The agreement includes the development of extensive projects in Yas Island and Saha Al Sidirah in Abu Dhabi. It involves the creation of a multi-use urban complex in Saha Al Sidirah covering an area of up to 1.5 million square meters, which will include villas and townhouses. Additionally, Arada will acquire three plots of land on Yas Island to develop upscale residential projects, two of which overlook the canal and collectively span over 27,500 square meters. This marks Arada’s first venture into the real estate development market in Abu Dhabi, aiming to expand its presence in the UAE market through high-quality projects. The partnership also reinforces the collaboration between the two companies to leverage their expertise and mutual interests in developing integrated residential communities.
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