Friday 21 February 2020

Arada awards Sharjah mixed-use development contract

SHARJAH, January 24, 2018

Arada, the UAE's newest developer, has awarded the infrastructure design contract for Aljada, the largest ever mixed-use project in Sharjah, to leading professional services firm Jacobs Engineering Group.

The contract forms part of the overall Dh1.2 billion ($326 million) infrastructure package for Aljada, which will see Jacobs managing all aspects of infrastructure delivery for the project, including roads, water, power and drainage, ensuring full integration with the overall masterplan.

Aljada, a master-planned destination with a sales value of Dh24 billion that is set to transform the future of Sharjah, was unveiled by HH Sheikh Dr Sultan bin Muhammad Al Qasimi, Supreme Council Member and Ruler of Sharjah, during an exclusive ceremony in September last year.

Since then, and helped by ARADA’s first appearance at the Cityscape Global real estate showpiece, the 24 million sq. ft. project has become Sharjah’s fastest-selling residential community.

Arada Chairman Sheikh Sultan bin Ahmed Al Qasimi 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."
On the contract win, Neil Stevens, the project director with Jacobs, said: “We are extremely happy to be working closely with Arada on the development of Aljada, a landmark project both for Sharjah and the UAE. We are looking forward to bringing our expertise and skills to this inspiring project and help deliver innovative, yet sustainable infrastructure, for this exciting development.”  

The contract award follows a busy start to the year for Aljada and the developer behind the project, Arada.

Early this month, the developer had announced that it had secured a Dh1 billion Islamic financing facility with two major UAE banks, Abu Dhabi Commercial Bank and Dubai Islamic Bank, to help fund the development of Aljada.

Aljada is ideally situated on the last major plot of undeveloped land in the heart of Sharjah, with exceptional connectivity to surrounding areas, and is an all-encompassing district that comprises considerable retail, leisure and entertainment options, in addition to a wide range of residential and commercial offerings.

Delivered in phases starting in 2019, construction on Aljada will begin in the first quarter and the entire project is expected to be completed by 2025.-TradeArabia News Service

Tags: Sharjah | Jacobs | Mixed-use project | Arada |

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