Sharjah’s Arada, Emaar ink hotel deal at $6.5bn mega-scheme



Arada, the Sharjah-based real estate developer, signed a deal with Emaar Hospitality Group, a division of Dubai’s largest listed property company, to open a trio of 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.

The chairman 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,” he said.

“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 Commerce and Tourism Development Authority.

While prices of residential and commercial properties in the UAE have declined in the past two years due to low oil prices and muted demand, developers have launched several tourism, housing and mixed-use projects in Sharjah in recent months as the emirate seeks to raise its profile and compete with its neighbour Dubai.

In January, plans for three schemes totalling Dh2.7bn were unveiled by the Sharjah Investment and Development Authority (Shurooq) and Abu Dhabi-based real estate developer Eagle Hills, whose chairman is Emaar founder Mohamed Alabbar.

Arada is a joint venture between KBW Investments – a firm controlled by Saudi Arabia’s Prince Khaled bin Alwaleed bin Talal – and Basma Group. It unveiled the 2.2 square kilometre Aljada project last year as Sharjah’s largest-ever scheme to date.

“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," said Mr Alabbar.

“Through our partnership, we are bringing three distinctive hotel experiences that will meet the requirements of visitors and residents."

Intended to house 70,000 people, Aljada will be delivered in several phases starting with the release in 2019 of 272 apartments, 28 townhouses and 56 semi-detached villas. There will also be retail, leisure and commercial components.

Under the management deal signed this week, Emaar Hospitality Group will launch three of its brands at Aljada, providing 600 hotel rooms and additional serviced apartments.

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The Address Aljada Sharjah will offer 150 hotel rooms, while The Address Residences Aljada Sharjah will provide 150 serviced apartments located in Aljada’s 1.9 million Central Hub, the heart of the mega-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.”

Results

Stage 7:

1. Caleb Ewan (AUS) Lotto Soudal - 3:18:29

2. Sam Bennett (IRL) Deceuninck-QuickStep - same time

3. Phil Bauhaus (GER) Bahrain Victorious

4. Michael Morkov (DEN) Deceuninck-QuickStep

5. Cees Bol (NED) Team DSM

General Classification:

1. Tadej Pogacar (SLO) UAE Team Emirates - 24:00:28

2. Adam Yates (GBR) Ineos Grenadiers - 0:00:35

3. Joao Almeida (POR) Deceuninck-QuickStep - 0:01:02

4. Chris Harper (AUS) Jumbo-Visma - 0:01:42

5. Neilson Powless (USA) EF Education-Nippo - 0:01:45

The Specs

Engine: 1.6-litre 4-cylinder petrol
Power: 118hp
Torque: 149Nm
Transmission: Six-speed automatic
Price: From Dh61,500
On sale: Now

A QUIET PLACE

Starring: Lupita Nyong'o, Joseph Quinn, Djimon Hounsou

Director: Michael Sarnoski

Rating: 4/5

Milestones on the road to union

1970

October 26: Bahrain withdraws from a proposal to create a federation of nine with the seven Trucial States and Qatar. 

December: Ahmed Al Suwaidi visits New York to discuss potential UN membership.

1971

March 1:  Alex Douglas Hume, Conservative foreign secretary confirms that Britain will leave the Gulf and “strongly supports” the creation of a Union of Arab Emirates.

July 12: Historic meeting at which Sheikh Zayed and Sheikh Rashid make a binding agreement to create what will become the UAE.

July 18: It is announced that the UAE will be formed from six emirates, with a proposed constitution signed. RAK is not yet part of the agreement.

August 6:  The fifth anniversary of Sheikh Zayed becoming Ruler of Abu Dhabi, with official celebrations deferred until later in the year.

August 15: Bahrain becomes independent.

September 3: Qatar becomes independent.

November 23-25: Meeting with Sheikh Zayed and Sheikh Rashid and senior British officials to fix December 2 as date of creation of the UAE.

November 29:  At 5.30pm Iranian forces seize the Greater and Lesser Tunbs by force.

November 30: Despite  a power sharing agreement, Tehran takes full control of Abu Musa. 

November 31: UK officials visit all six participating Emirates to formally end the Trucial States treaties

December 2: 11am, Dubai. New Supreme Council formally elects Sheikh Zayed as President. Treaty of Friendship signed with the UK. 11.30am. Flag raising ceremony at Union House and Al Manhal Palace in Abu Dhabi witnessed by Sheikh Khalifa, then Crown Prince of Abu Dhabi.

December 6: Arab League formally admits the UAE. The first British Ambassador presents his credentials to Sheikh Zayed.

December 9: UAE joins the United Nations.

Common OCD symptoms and how they manifest

Checking: the obsession or thoughts focus on some harm coming from things not being as they should, which usually centre around the theme of safety. For example, the obsession is “the building will burn down”, therefore the compulsion is checking that the oven is switched off.

Contamination: the obsession is focused on the presence of germs, dirt or harmful bacteria and how this will impact the person and/or their loved ones. For example, the obsession is “the floor is dirty; me and my family will get sick and die”, the compulsion is repetitive cleaning.

Orderliness: the obsession is a fear of sitting with uncomfortable feelings, or to prevent harm coming to oneself or others. Objectively there appears to be no logical link between the obsession and compulsion. For example,” I won’t feel right if the jars aren’t lined up” or “harm will come to my family if I don’t line up all the jars”, so the compulsion is therefore lining up the jars.

Intrusive thoughts: the intrusive thought is usually highly distressing and repetitive. Common examples may include thoughts of perpetrating violence towards others, harming others, or questions over one’s character or deeds, usually in conflict with the person’s true values. An example would be: “I think I might hurt my family”, which in turn leads to the compulsion of avoiding social gatherings.

Hoarding: the intrusive thought is the overvaluing of objects or possessions, while the compulsion is stashing or hoarding these items and refusing to let them go. For example, “this newspaper may come in useful one day”, therefore, the compulsion is hoarding newspapers instead of discarding them the next day.

Source: Dr Robert Chandler, clinical psychologist at Lighthouse Arabia

Getting there
Flydubai flies direct from Dubai to Tbilisi from Dh1,025 return including taxes


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