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 feet of prime leasable space located in 40 smart office buildings, Arada CBD has the capacity to accommodate 20,000 workers, meeting substantial demand for a contemporary business district in Sharjah and meeting future workplace needs for businesses across the UAE and beyond.
His Highness Sheikh Sultan bin Ahmed bin Sultan Al Qasimi, Chairman of Arada, said: “Arada CBD is part of Sharjah’s vision to position itself as a leading business hub, attracting companies of all sizes and of all talents from all over the UAE and beyond. Arada CBD fulfills our promise to provide 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 that is specifically designed to support tomorrow’s workforce. ”
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. Flexible and wide open floor plans enhance collaboration and benefit from floor-to-ceiling windows allowing for more natural light, while each office also benefits from smart technology that is part of Aljada’s overall smart city program, which will use next-generation solutions that are linked to everything from waste and traffic management to circular economy and smart lighting solutions.
Ahmed Alkhoshaibi, CEO of Arada Group, said: “We are confident that Arada CBD will unlock growth opportunities for Sharjah businesses and encourage businesses and SMEs to grow and relocate to the emirate, redefining the business scene in the emirate and strengthening its position. on the regional investment map. We have just begun the process of offering guided tours to all businesses interested in renting space at Arada CBD and expect to see strong demand for this exceptional 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% per year in the medium term, according to Oxford Economics. One of the fastest growing and most diversified economies in the region, with 96% of GDP coming from non-oil sectors, the emirate also attracted AED808 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 government spending, a robust response to the pandemic by local authorities and a steady growth of new businesses. registered. The emirate is already recognized as a cultural and educational capital for the region, with around AED5.5 billion invested annually in education and R&D, while local authorities have identified several high-potential future sectors. growth potential, including mobility, logistics and advanced manufacturing. .
According to JLL, growth in demand for office space in Sharjah is expected to increase by 5% in the medium term due to improved confidence in the business sector as well as lucrative business incentives from the government.
Scheduled to start in the first quarter of 2023, Arada CBD’s first cluster comprises a total of 812,000 square feet of Class A and Class B leasable space, spread across eight impeccably designed buildings. The hub also includes 1,666 parking spaces, 76,000 square feet of landscaped green space and 26,500 square feet of retail space.
Arada moves its headquarters to the first Arada CBD building, introducing a vibrant new workplace for its growing workforce spread over seven levels. Arada’s headquarters building reflects the master developer’s vision for the workplace of tomorrow, with a striking design aesthetic and an impressive list of amenities, including a gym, cafeteria and nursery.
By the time the first Arada CBD cluster is ready in the first half of 2025, there will already be a population of 20,000 people living within the Aljada community.
Spread over an area of 24 million square feet, Aljada is the largest project ever in Sharjah and a transformational destination for the emirate. Aljada contains many residential neighborhoods, as well as numerous retail, hospitality, entertainment, sports, education, healthcare and Arada CBD components, all within a green urban master plan. So far, Arada has completed nearly 1,500 homes in Aljada, with another 6,000 currently under construction.