23 January 2017Newly-established entity to support the government's vision to create urban communities
Dubai, UAE - KBW Investments (KBW) and Basma Group (Basma) today announced the joint formation and launch of ARADA, a partnership enterprise dedicated to the creation of prime residential properties. Headquartered in the United Arab Emirates, ARADA has commenced operations with the focus on ‘creating communities’, aiming to address the ever-expanding mid-market segment. The agreement was inked in Sharjah in early December of last year between HRH Prince Khaled bin Alwaleed bin Talal, founding Chairman of KBW Investments, and HE Sheikh Sultan bin Ahmed Al Qasimi, Chairman of Basma Group.
Conceptualized with the intention of delivering superior properties to the UAE real estate segment, ARADA will pursue the development and timely delivery of projects. The newly-established company will draw on the vast experience of its founding parties and the breadth of their diverse commercial portfolios. Prospective residents and investors in the UAE and across the GCC will be presented with quality ARADA Living experiences and investment opportunities to own ergonomically-designed homes. Building on existing corporate credibility, KBW and Basma have made the ARADA brand hallmark one of reliability, commitment to quality, and end-user value.
ARADA, with a launch focus on the emirate of Sharjah, will build on the government’s vision to position the emirate as a vibrant cultural and business hub. It is led by the highest figures from both organizations whereby HE Sheikh Sultan bin Ahmed Al Qasimi will serve as ARADA’s Chairman, while HRH Prince Khaled bin Alwaleed bin Talal will act as the company’s Vice Chairman.
Commenting on the launch, HE Sheikh Sultan bin Ahmed Al Qasimi, said: “We are very proud to be present here today in a show of strong confidence and commitment to further grow the private sector in the UAE and cement the entrepreneurial spirit of this nation. The property sector remains highly attractive especially in the residential segment which is one of the country’s key pillars for the future. We have made important strides towards aligning our goals with the leadership’s vision and supporting its ambitious aspirations in partnership with KBW Investments. Today, ARADA is the result of these joined efforts and we are confident that it will play a pivotal role in closing the gap in the underserved sector of urban communities.”
HRH Prince Khaled bin Alwaleed bin Talal said: “Over the past few years, KBW Investments has been carefully curating a group of companies that work together across sectors, and have amassed the expertise, scale, and capabilities to contribute to Sharjah’s burgeoning real estate segment. Through our discussions with industry experts and investors, we’ve determined the consumer need for aspirational urban concepts that provide a strong value proposition to Sharjah residents or those looking to invest from other emirates and the larger GCC. For families and investors alike, owning a property is a rewarding opportunity and presents a solid investment vehicle to plan for the future. Together with Basma Group, we’ve commenced working on ARADA projects that will address this growing consumer need with full strength and confidence.” Prince Khaled added that an ARADA project announcement would be made in the immediate term.
In 2014, the Sharjah government passed a law opening the door for expats of all nationalities to own property in the emirate thus driving the need for more residential projects. During the same year, the Sharjah Urban Planning Council was formed with the mandate to create urban communities that promote the sustainable cultural and environmental principles of Sharjah. ARADA will play a pivotal role in driving Sharjah’s development forward.
© Press Release 2017