Emaar signs deal to open hotels in Sharjah

Arada, the Sharjah real estate developer, signed a deal with Emaar Hospitality Group, a division of Dubai’s largest listed property company, to open three hotels at the Dh24 billion ($6.5bn) Aljada mega-community due to complete in 2025.

“Aljada is a transformational project for Sharjah, and our partnership agreement with Emaar is further proof of that,” Sheikh Sultan bin Ahmed Al Qasimi, chairman of Arada and a member of Sharjah’s ruling family, said in a statement on Thursday. He did not disclose the value of the deal.

“All three hotels are in the concept stage and it is too early to give an accurate indication of their investment value.”

“That being said, these hotels will significantly raise the profile not only of Aljada, but Sharjah as a whole, providing more choices for consumers and allowing visitors from the UAE and overseas a perfect place to stay within the city.”

Sharjah aims to attract more than 10 million visitors to the emirate by 2021, under a strategy devised by the Sharjah Tourism Development Authority.

Under the management deal signed this week, Emaar will launch three of its brands at Aljada, providing 600 hotel rooms and additional serviced apartments. The Address Aljada Sharjah will offer 150 hotel rooms, while The Address Residences will provide 150 serviced apartments located in Aljada’s 1.9 million Central Hub, the heart of the project designed by Zaha Hadid Architects.

The upscale Vida Aljada Sharjah and Vida Residences Aljada Sharjah will provide 175 hotel rooms and 120 serviced residences respectively, while the mid-market Rove Aljada Sharjah will provide 300 hotel rooms. The serviced apartments will be launched for sale in the fourth quarter of 2018, the companies said.

“Hospitality is one of the core aspects of the mega-development,” Sheikh Al Qasimi said.

“With the growth in tourist arrivals to Sharjah, and the emirate’s status as a cultural hub, there is strong potential for building a robust hospitality infrastructure.”