Arada was founded in 2017 by Sheikh Sultan bin Ahmed Al Qasimi, chairman of Basma Group
The UAE-based real estate developer Arada has awarded a 180 million-dirham ($49 million) contract to Dubai-based Al Ashram Contracting LLC to build a residential complex in Sharjah.
Work on the project, The Boulevard in Aljada, will begin immediately, and homes in the project will be handed over by the end of 2022, Arada said in a statement Sunday.
Arada was founded in 2017 by Sheikh Sultan bin Ahmed Al Qasimi, chairman of Basma Group, and the Saudi Prince Khaled bin Alwaleed bin Talal, founding Chairman of KBW Investments.
So far this year, Arada has already completed 465 units at seven apartment buildings in Aljada, with another seven apartment buildings and a townhouse and villa community at the project scheduled to be completed in the next few months. In February, the developer also awarded a 367-million-dirham contract to build Nest, a student housing complex.
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