Sharjah developer Arada expands into Dubai, launches first project

Jouri Hills at Jumeirah Golf Estates contains 294 villas located close to two golf courses



by

Waheed Abbas

Published: Mon 21 Nov 2022, 4:55 PM

Last updated: Mon 21 Nov 2022, 4:56 PM

Sharjah-based property developer Arada has forayed into Dubai, launching first project at Cityscape on Monday.

Jouri Hills at Jumeirah Golf Estates contains 294 villas located close to two golf courses.

With a range of units from three-bedroom townhouses to luxurious six-bedroom mansions, villas feature contemporary architecture designed to make the most of natural light, with floor-to-ceiling windows and double-height spaces, as well as smart home solutions.

Jouri Hills will be anchored by its own community park, which contains a variety of sports facilities including cycling and running tracks, swimming pools and a fitness centre operated by Wellfit. Construction on Jouri Hills will start in 2023, with the first homes scheduled to be handed over by June 2025.

“This move into the high-demand Dubai property market cements Arada’s reputation as the region’s fastest-growing master developer… In addition, Jouri Hills represents just the start of our journey in Dubai, and we continue to finalise plans for further projects to take advantage of the strong performance of the local sector,” said Prince Khaled bin Alwaleed bin Talal, vice-chairman of Arada.

“Given the extremely high interest in the market for the property of this type, we anticipate a strong response by both investors and end-users for a product that builds on the popularity and existing thriving community at Jumeirah Golf Estates,” said Ahmed Alkhoshaibi, Group CEO of Arada.

Since its inception in 2017, Arada has launched three successful master communities in Sharjah, Aljada, Masaar and Nasma Residences, and has already sold nearly 11,000 homes. The master developer has also completed over 2,600 units, with another 7,500 currently under construction.

Arada is currently on track for a year-on-year 25 per cent increase in the value of the property sold in 2022 to Dh3 billion and has so far this year raised $450 million via a Sukuk that was listed on the London Stock Exchange.

— waheedabbas@khaleejtimes.com


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