Arada awards $87.6mn apartment building contract to Kuwait’s Al-Kharafi

By Arya M Nair, Official Reporter
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Tiraz image
Representational image

Arada, a Sharjah-based real estate developer, has awarded a major contract, valued at $87.6 million, to build eight premium apartment, Tiraz buildings, containing 920 homes, within the $6.5 billion lifestyle megaproject in New Sharjah, Aljada.

The contract was won by Mohammed Abdulmohsen Al-Kharafi & Sons (Al-Kharafi), a reputable Kuwaiti contractor. Work on the Tiraz buildings will start immediately, and construction is scheduled to take 18 months to complete.

Featuring a range of studios, one-bedroom and two-bedroom apartments, the Tiraz buildings overlook open courtyards and garden spaces. Smart home features come as standard at all Tiraz apartments. Residents also have access to a fitness center, two swimming pools, children’s play areas, and a family BBQ area.

Future construction contracts to be awarded at the Naseej District include deals for the Vida Aljada hotel, residences and serviced apartments complex, the five Sokoon buildings and the Naseej District Museum. All of these contracts will be awarded in 2022.

Ahmed Alkhoshaibi
Ahmed Alkhoshaibi
CEO – Arada

“This award to Al-Kharafi shows our continued commitment to delivering high-quality homes at Aljada, which is increasingly becoming one of the region’s most active job sites with 6,000 units currently under construction. The coming year will be transformational for Aljada, with substantial retail, education, F&B and entertainment assets all nearing completion, alongside thousands of new homes, which will see the community’s population rising significantly.”

The third and fourth Misk Apartments buildings, which will be completed in March, and the second and final phase of the SABIS International School – Aljada (SIS-Aljada), which will open in August, are among the key components of the Aljada master plan set to be completed this year.

Related: Ajman Bank extends $41mn funding for Arada’s Aljada Project