Developer Arada has announced a strong sales performance for 2021 on the back of new project launches and a resurgence in the property market in both Sharjah and the wider UAE.
The developer posted a 38 percent increase in sales to AED2.4 billion last year compared to the previous year.
In total, Arada sold 2,488 homes in 2021, a 6 percent increase on the year before, as buyers continued to invest in higher-value apartments and villas, it said in a statement.
Prince Khaled bin Alwaleed bin Talal, vice chairman of Arada, said: “We are determined to carry this momentum forward into 2022 with an increased focus on home deliveries at our existing communities, alongside the launch of our first projects outside Sharjah.
“We will also continue to focus matching customer demand for a smart and sustainable lifestyle with world-class homes, facilities and services.”
Ahmed Alkhoshaibi (pictured below), group CEO of Arada, added: “For 2022, our aim is to complete 4,000 impeccably designed smart homes, all of which will be delivered to an exceptionally high level of quality.”
In line with the recent lead taken by the UAE Government, Arada said it will adopt a Monday-Friday working week in 2022, with employees being granted an additional half day off on Fridays.
Alkhoshaibi added: “Our goal is to become a truly people-centric company and we are committed to providing an exceptional level of care not just to buyers or visitors to our communities, but to our hard-working employees as well. By introducing a 4.5 day working week, we aim to improve their happiness and health, allowing them to spend more time with their families.”
Arada’s best-performing project in terms of sales in 2021 was Masaar, the upscale forested villa community that became the UAE’s first major offplan launch of last year.
In total, the developer sold 559 homes at Masaar with a value of almost AED1.2 billion. The first residential contract at the project is scheduled to be awarded this month.
The company said investor interest also remained strong at Aljada, Sharjah’s largest ever mixed-use project, where Arada sold 1,796 homes at a total value of almost AED1.1 billion. The developer completed over 1,200 homes at Aljada during 2021, with the first residential phase of the project almost complete.
At Nasma Residences, the villa and townhouse community in the Al Suyoh district of Sharjah, Arada said homes in the sixth and final phase of the project are scheduled to be completed in the coming weeks.
The total value of Arada’s three projects is AED33 billion and the developer has sold nearly 9,300 homes since its launch in 2017.
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