Leading Sharjah developer Arada said it has purchased the last remaining beachfront land plot on the Crescent of the world-famous, award-winning Palm Jumeirah, marking the fast-growing developer’s first project outside the northern emirate.
Since its foundation in 2017, Arada has rapidly become the largest developer in the northern emirates, following the launch of three record-breaking communities in Sharjah together valued at AED33 billion.
Valued at AED240 million, the plot has been bought from Nakheel, the master developer behind Palm Jumeirah.
Located on The Palm’s East Crescent, the 20,500 square metre plot is ideally located with views of the Burj Khalifa and Burj Al Arab to the east, and the rest of the Palm and Dubai Marina to the south and west. The site is also close to the Waldorf Astoria Dubai Palm Jumeirah and the Sofitel Dubai The Palm.
Design work on Arada’s mixed-use project on Palm Jumeirah, which will contain residential, leisure and F&B components, has already begun and full details will be revealed at the sales launch, scheduled to take place in the third quarter of 2022.