SHARJAH, 26th September, 2022 (WAM) – Arada has announced the launch of Arada Central Business District (CBD), a new shopping center for Sharjah which will be located in the heart of the Aljada community.
Spread over 4.3 million square meters of prime leasable space in 40 smart office buildings, Arada CBD has the capacity to accommodate 20,000 workers, meeting the significant demand for a modern business district in Sharjah and meeting the future workplace needs of companies across the UAE and beyond.
His Highness Sheikh Sultan bin Ahmed bin Sultan Al Qassimi, Chairman of Arada, said: “Arada CBD is part of Sharjah’s vision to position itself as a leading business hub, attracting businesses of all sizes and talents from across the UAE and beyond. The launch of Arada CBD delivers on our promise to deliver a transformative urban experience where residents can work, live and play.”
Prince Khaled bin Alwaleed bin Talal, Vice President of Arada, said: “Arada CBD takes the best features of the most important business parks around the world and combines them in a perfectly designed location, specially adapted to support the workforce of tomorrow.
The region’s first business park to be conceptualized post-pandemic, Arada CBD is defined by contemporary urban architecture designed to inspire staff and improve their productivity. The open, flexible and wide floor plans promote collaboration and benefit from floor-to-ceiling windows that allow for more natural light, while each office also benefits from smart technology that is part of the overall smart city program.Aljada , which will use next-generation solutions related to everything from waste and traffic management to circular economy and smart lighting solutions.
Arada Group CEO Ahmed Alkhoshaibi said: “We are confident that Arada CBD will open up growth opportunities for Sharjah businesses and encourage companies and SMEs to expand and settle in the emirate. , thereby redefining the emirate’s business scene and strengthening its position on the regional investment. map. We have just started offering guided tours to all businesses interested in renting space in the Arada CBD, and we anticipate strong demand for this unique new addition to Arada’s growing portfolio.”
The launch of Arada CBD complements the continued growth of Sharjah’s economy, which is expected to grow by 5% annually in the medium term, according to Oxford Economics. One of the most dynamic and diversified economies in the region, with 96% of GDP coming from non-oil sectors, the emirate also attracted AED 808 million in foreign direct investment (FDI) in 2021.
Sharjah was recently named by New World Wealth as the world’s second fastest growing city for millionaires in the first half of 2022, reflecting successive years of record public spending, a robust response to the pandemic by local authorities and steady growth of newly registered businesses. The emirate is already recognized as a cultural and educational capital for the region, with around AED 5.5 billion invested annually in education and R&D, while local authorities have identified several growth sectors with high potential for the future, including mobility, logistics and advanced manufacturing.
According to JLL, demand for office space in Sharjah is expected to grow by 5% in the medium term due to increased confidence in the business sector and lucrative government incentives.
Scheduled for the first quarter of 2023, Arada CBD’s first cluster offers a total of 812,000 square feet of Class A and B lettable space across eight impeccably designed buildings. The cluster also includes 1,666 parking spaces, 76,000 square meters of landscaped green space and 26,500 square meters of retail space.
Arada is moving its headquarters to the first building in the Arada CBD, introducing a dynamic new workplace for its growing staff, spread over seven levels. Arada’s headquarters reflects the architect’s vision for the workplace of tomorrow with a striking aesthetic design and an impressive list of amenities, including an in-house fitness center, cafeteria and nursery.
When the first batch of Arada CBD is ready, in the first half of 2025, there will already be 20,000 people living in the Aljada community.
Spanning an area of 24 million square feet, Aljada is the largest ever project in Sharjah and a transformative destination for the Emirate. Aljada includes many residential areas as well as major retail, hospitality, entertainment, sports, education and healthcare businesses, as well as the commercial center of Arada, all within part of a green urban plan. So far, Arada has completed almost 1,500 homes in Aljada, with another 6,000 under construction.
Translated by: Gihane Fawzi.