Arada Developments LLC (“Arada”), rated B1 by Moody’s and B+ by Fitch, has successfully completed the issuance of its second public financing deal, a $400 million Sukuk, which has been listed on the London Stock Exchange and the Nasdaq Dubai. This is the first issuance under Arada’s newly established $1 billion Sukuk programme. The five-year fixed rate RegS Sukuk issuance, rated BB- by Fitch and B1 by Moody’s, was priced at par with a coupon of 8.000%, inside the initial guidance area of 8.625% for a spread of 355 bps over US Treasuries. The trade achieved one of the highest price tightening by

AJMAL MAKAN Real Estate Development, a leading developer of urban and mixed-use developments, launched its new state-of-the-art architectural masterpiece – AlThuraya Island – in AJMAL MAKAN city on Sharjah waterfront. The launching ceremony was held at the company headquarters in Sharjah. The launch of Al Thuraya Island reflects the ambitious vision of AJMAL MAKAN to redefine the standards of opulent lifestyle. In line with this, the project seeks to set new standards for the real estate landscape by developing an exquisite architectural masterpiece that is capable of addressing the growing demand for residential units especially in the luxury segment. The developer’s

Arada has awarded two contracts valued at AED1.48 billion for the construction of Sequoia and Saro, the final two phases of Masaar, the AED9.5 billion woodland megaproject in the Suyoh district of Sharjah. Valued at AED650 million, the Sequoia contract to build 428 homes has been awarded to Pivot Engineering & General Contracting, the Abu Dhabi-based firm also responsible for building Kaya, the second phase of Masaar. The second contract, worth AED830 million, to build the 597 units at Saro, the sixth and final phase of Masaar, has been awarded to Intermass, a well-established Sharjah-based contractor. Intermass has previously built part of

With the UAE’s real estate market continuously prospering, the requirement for industry specialists becomes more of a necessity for key players looking to expand their services in this very competitive market. According to data analytics online platform, Statista, the UAE real estate market is anticipated to reach a value of just over AED 2.6 trillion (2.6057) by the end of 2024, with high-net-worth individuals (HNWIs) playing a key role in this surge, driven by their interest in luxury property investment. In the first three months of the year, 105 luxury homes were sold in Dubai, bringing it closer to matching the

Arada has awarded two contracts valued at AED1.48 billion for the construction of Sequoia and Saro, the final two phases of Masaar, the AED9.5 billion woodland megaproject in the Suyoh district of Sharjah. Valued at AED650 million, the Sequoia contract to build 428 homes has been awarded to Pivot Engineering & General Contracting, the Abu Dhabi-based firm also responsible for building Kaya, the second phase of Masaar. The second contract, worth AED830 million, to build the 597 units at Saro, the sixth and final phase of Masaar, has been awarded to Intermass, a well-established Sharjah-based contractor. Intermass has previously built part of

In partnership with The Big Heart Foundation (TBHF) and UNHCR, the UN Refugee Agency, Arada’s landmark ‘Home for a Home’ initiative has funded the construction of 757 homes that are currently housing 448 families within the Kakuma Refugee Camp in northern Kenya. Launched in 2022, ‘Home for a Home’ has allowed Arada to fund the construction of a home or shelter unit in the Kakuma refugee camp for every home sold at its communities in Sharjah during Ramadan. The initiative has also sponsored the development of water supply infrastructure benefiting more than 43,000 people in Kenya. Through the provision of cash-for-shelter this

AJMAL MAKAN Real Estate Development, a leading developer of urban and mixed-use developments, is all set to launch its most recent and exquisite real estate development – Al Thuraya Island – on the Sharjah waterfront. The project will be launched during an event organised by the company on June 8, 2024, at its headquarters in Al Hamriyah in the Emirate of Sharjah. Through this remarkable development, the company aims to raise the benchmark for quality of living on an island that provides the highest standards of excellence. Al Thuraya Island is an addition to the portfolio of AJMAL MAKAN’s integrated real estate