ARADA, a joint venture between KBW Investments and Basma Group, signed a management agreement with Emaar Hospitality Group, the hospitality and leisure subsidiary of Emaar Properties, to launch three new hotels in Sharjah.
The three properties under Emaar Hospitality Group’s premium lifestyle Address Hotels + Resorts, upscale lifestyle Vida Hotels and Resorts, and the contemporary midscale Rove Hotels, will be located in Aljada, a 2.2 million square meters integrated lifestyle destination, and a new leisure and entertainment hub for Sharjah.
Under the terms of the agreement, Emaar Hospitality Group will manage Address Aljada Sharjah with 150 rooms, and Address Residences Aljada Sharjah, an exclusive selection of only 150 serviced residences, located in Aljada’s Central Hub, the heart of the megaproject.
Designed by Zaha Hadid Architects, the Central Hub will be a new focus for leisure and entertainment in the UAE, and a significant addition to an Emirate that is already widely regarded as the cultural capital of the Arab world.
In close proximity is the Vida Aljada Sharjah with 175 hotel rooms and Vida Residences Aljada Sharjah with 120 residences. Located within Aljada’s Business Park is the 300-room Rove Aljada Sharjah. The serviced residences under Address and Vida will be offered for sale in the fourth quarter of 2018.
His Excellency Sheikh Sultan bin Ahmed Al Qasimi said: “Hospitality is one of the core aspects of the mega-development. 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. Our agreement with Emaar will bring proven hospitality competencies to this spectacular development that will transform Sharjah’s economy.”
Mohamed Alabbar said: “ARADA is redefining the residential and commercial landscape of Sharjah with Aljada, its ambitious master-planned destination that will catalyze all sectors of the economy. Through our partnership, we are bringing three distinctive hotel experiences that will meet the requirements of visitors and residents. This is a great example of the collaborations we foster to create iconic destinations of the future. Our three hotel brands – Address, Vida and Rove – have set high industry standards and will be a sterling addition to Aljada.”
Launched in September 2017 by His Highness Sheikh Dr. Sultan bin Muhammad Al Qasimi, Supreme Council Member and Ruler of Sharjah, the USD 6.5 billion Aljada has swiftly become Sharjah’s fastestselling residential community. Delivered in phases starting in 2019, the entire project is expected to be completed by 2025.