Arada Real Estate Development Company achieved exceptional sales in 2020, recording a 35% increase in sales to reach 1.75 billion dirhams, in light of investor interest in the Aljada project, the largest multi-project Uses in the heart of Sharjah.
According to the Emirates News Agency, the company signed a new Islamic loan agreement with Dubai Islamic Bank worth 300 million dirhams in addition to a microfinance agreement with Ajman Bank to cover all construction costs The residential stages that were announced in the Aljada project, and the company previously obtained two loans worth one billion dirhams each during the years 2017 and 2018, respectively.
Sheikh Sultan bin Ahmed Al Qasimi, Chairman of Arada Board of Directors, said: Despite our passing a period that was beset by many challenges, I am happy to say that Arada's performance exceeded all expectations during the year 2020. We awarded contracts worth more than one billion dirhams and achieved exceptional sales. In a related context, the new financing agreements that we signed with Dubai Islamic Bank and Ajman Bank are clear evidence of the extent of customer confidence in Arada projects and the Sharjah real estate market in general.
He added: I feel proud that Arad was able to consolidate its position in record time as a major developer that enriches the lives of individuals and communities by providing high-quality urban living standards as well as extending a hand Aid and assistance to the local community during difficult circumstances.
Sheikh Sultan bin Ahmed Al Qasimi emphasized that the company's focus is now on the new year through a bouquet of deliveries and launches of new projects in addition to a rich program of activities designed to support Citizens, residents and visitors of the Emirate of Sharjah in particular and the UAE in general, with a unique and unparalleled experience.
For its part, Arada announced - in a statement - that the total sales of all its projects during the year 2020 reached 2,337 units with the increasing investor interest in luxury apartments and villas within my project. The serious company and Nasma Residences .. noting that it started the year 2020 with the opening of a complex in the Aljada project, the largest mixed-use project in the history of Sharjah under the generous patronage of His Highness Sheikh Dr. Sultan bin Muhammad Al Qasimi, Member of the Supreme Council and Ruler of Sharjah, and in a short time the complex has become one of the most prominent Family entertainment destinations that welcomed more than 850,000 visitors in addition to hosting a growing bouquet of successful projects.
Arada has sold 1,977 units in the Aljada project over the past year and is preparing this January to deliver the first batch of homes in its integrated community in the heart of Sharjah.
The company also awarded a set of major construction contracts during ...
