Sharjah: Arada Capital, part of Arada Group, signed a Memorandum of Understanding with Alya, a new institutional platform for premium residential development across the GCC, to establish a development and co-investment strategic partnership to develop premium residential and mixed-use projects in the UAE and the Kingdom of Saudi Arabia.
The proposed collaboration will bring together Arada Capital's access to Arada Group's established development pipeline and its expertise in delivering large-scale communities, with Alya's development and value creation expertise, alongside an institutional approach to governance, capital discipline and delivery, backed by Brookfield and Lunate.
Lunate is a global investment firm headquartered in Abu Dhabi, with more than $125 billion in assets under management.
The proposed collaboration will initially focus on two residential developments with an anticipated combined gross development value (GDV) of approximately Dh6 billion, forming part of a broader pipeline of opportunities to be evaluated by both parties.
The opportunities being explored include projects in Downtown Dubai and Yas Island, Abu Dhabi, subject to due diligence, commercial agreement and the necessary approvals.
Otto Dreyer, CEO of Alya, said, “Successful developments are built on strong partnerships, mutual trust, shared objectives and a commitment to creating long-term value. This proposed partnership combines those strengths with Arada’s established track record in creating communities.
