AB Espresso: UAE property developer ARADA eyes global expansion

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Discover the latest developments curated by our expert editorial team at Arabian Business. Here's what you missed on Tuesday:

UAE property developer ARADA is setting its sights on international markets amid robust growth in its domestic operations. The company, which has in recent years established a strong presence in Sharjah and Dubai, is now looking to expand its footprint to Saudi Arabia, Australia and Europe, the firm’s Senior Business Development Director, Rosa Piro, revealed to Arabian Business.

In addition, Aldar Properties has announced the sale of over 660 units at its Verdes by Haven development in Dubai within 72 hours of launch. The apartment complex is part of the Haven by Aldar masterplan, marking the company’s first Dubai project in partnership with Dubai Holding. The sales events, held at Dubai World Trade Centre, Aldar Square in Abu Dhabi, and an international roadshow, generated more than AED1 billion.

Aside from this, Dubai’s real estate market maintained its robust performance in the second quarter of 2024, with record-breaking transaction volumes and rising prices across both sales and rental sectors. According to the latest market report from Betterhomes, Dubai saw 40,584 property transactions worth AED104 billion in Q2 2024, representing a 49 percent increase compared to the same period last year.

In other news, the nominations for the 2024 edition of the Arab Woman Awards are now open. Scheduled to take place on December 11, 2024, the black-tie event will honour inspiring women across the Middle East. The deadline to submit nominations will be until August 30, 2024.

Meanwhile in Saudi Arabia, the kingdom's New Murabba Development Company has unveiled the design of New Murabba Stadium. The upcoming stadium from the PIF-backed company will have a capacity of more than 45,000. The stadium will be a central pillar of New Murabba, the transformative downtown destination in Riyadh City.

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