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 hotels under Emaar Hospitality Groups premium lifestyle Address Hotels + Resorts, upscale lifestyle Vida Hotels and Resorts, and the contemporary midscale Rove Hotels will be located in Aljada, a 24 million square foot integrated lifestyle destination, and a new leisure and entertainment hub for Sharjah.
The agreement was signed by HE Sheikh Sultan bin Ahmed Al Qasimi, chairman of ARADA, HRH Prince Khaled bin Alwaleed bin Talal, vice chairman of ARADA, and Mohamed Alabbar, chairman of Emaar Properties, in the presence of senior officials of the two companies as well as Emaar Hospitality Group.
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 Aljadas Central Hub, the heart of the megaproject. Designed by Zaha Hadid Architects, the 1.9 million square foot Central Hub will be a new focus for leisure and entertainment in the UAE, and a significant addition to the emirate.
In close proximity is the Vida Aljada Sharjah with 175 hotel rooms and Vida Residences Aljada Sharjah with 120 residences. Located within Aljadas 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.
HE Sheikh Sultan bin Ahmed Al Qasimi said: Our flagship development, Aljada is a first-of-its-kind integrated lifestyle destination in Sharjah that will add tremendous value to the economy. Hospitality is one of the core aspects of the mega-development. With the growth in tourist arrivals to Sharjah, and the emirates 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 Sharjahs economy.
Mohamed Alabbar said: ARADA is redefining the residential and commercial landscape of Sharjah with Aljada, its ambitious master-planned destination that will catalyse 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.
Olivier Harnisch, CEO of Emaar Hospitality Group, added: Sharjah has unique touristic value that is defined by its cultural museums as well as natural attractions. With our three hotel brands marking their entry to Sharjah for the first time, we are not only expanding our footprint in the UAE but also contributing the strengthening the tourism sector of the emirate. While Address Aljada Sharjah will appeal to luxury travellers, Vida Aljada is for the new generation of entrepreneurs and travellers, and Rove Aljada Sharjah brings the midscale offering. All hotels stand out for their brand philosophy and design approach, and are located centrally adding to the connectivity and mobility of our guests.
Launched in September 2017 by HH Sheikh Dr Sultan bin Muhammad Al Qasimi, Supreme Council Member and Ruler of Sharjah, the AED24bn Aljada has swiftly become Sharjahs fastest-selling residential community. Delivered in phases starting in 2019, the entire project is expected to be completed by 2025.
The Aljada masterplan is carefully designed with walkability and wide green spaces in mind, allowing residents, workers and visitors the ability to live, work, play and be entertained within a fully integrated and sustainable community.