Sharjah-based real estate major Arada has announced the awarding of the contract to build the first phase of Arada Central Business District (CBD), its upcoming commercial centre in the emirate, to Modern Building Contracting Company (MBCC).
The contract is valued at $164M. The Arada Central Business District is based in the AED35bn Aljada megaproject, the company said in a statement.
MBCC is expected to begin construction of the first cluster of Arada CBD immediately, with completion and handover scheduled for the first quarter of 2027, Arada said.
The eight smart blocks included in the first phase include Arada’s headquarters, a nine-floor building that will also introduce a dynamic new workplace for the master developer’s 1,500 staff. In total, the cluster will feature 812,000sq ft of Grade-A leasable space, as well as 1,666 parking spaces, 76,000sq ft of landscaped green space and 26,500sq ft of retail space.
Ahmed Alkhoshaibi, Group CEO of Arada, said since the launch of Arada CBD, the company has seen strong investor demand for commercial space within this impressive business park. “With its contemporary urban architecture, facilities designed to enable and inspire workforces and excellent connectivity in close proximity to Sheikh Mohammed bin Zayed Road, international airports in both Sharjah and Dubai and the upcoming Etihad Rail station, Arada CBD is set to play a leading role in Sharjah’s future economy,” he said.
