Arada expands further into Dubai property market with Dh600 million plot purchase
Dubai: Sharjah developer Arada announced its expansion into the Dubai property market with a Dh600 million plot purchase in Zabeel 2. The master developer plans to build a 50-floor luxury residential tower on the 138,466 sq ft plot, containing 400 premium apartments, Arada said Tuesday.
The plot, purchased from Rital Properties (the real estate subsidiary of Emirates ENBD), is adjacent to Dubai International Financial Centre (DIFC) and marks Arada’s third project in Dubai.
Positioned between DIFC and Downtown Dubai, the land plot is close to Index Tower and Central Park Towers. The developer said that design work on Arada’s high-end residential project next to DIFC has already begun, and full details will be revealed next year.
Prince Khaled bin Alwaleed bin Talal, Vice Chairman of Arada, said, “This acquisition marks a significant step in strengthening our standing as one of the UAE’s most prominent master developers.” He said, “The site is our third prime location in Dubai and underscores our commitment to deliver exceptional projects and contribute to this thriving city’s powerful and dynamic real estate market.”