KBW Investments (KBW) and Basma Group (Basma) announced the joint formation and launch of ARADA, a partnership enterprise dedicated to the creation of prime residential properties.
Headquartered in the UAE, 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 2016 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.
Conceptualised with the intention of delivering superior properties to the UAE real estate, 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.
ARADA, with a launch focus on 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 organisations 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. 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. Together with Basma Group, we’ve commenced working on ARADA projects that will address this growing consumer need with full strength and confidence.”