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Power hour 2022

Power Hour 2022: Ahmed Alkhoshaibi, Group Chief Executive Officer, Arada , Ranks 8th

Ahmed Alkhoshaibi is the Group Chief Executive Officer of Arada. Based in Sharjah, United Arab Emirates, Arada was founded in 2017, under the Chairmanship of HH Sheikh Sultan bin Ahmed Al Qasimi, and the Vice Chairmanship of HRH Prince Khaled bin Alwaleed bin Talal.
Alkhoshaibi has leveraged his previous extensive experience in the real estate sector in Australia to help establish Arada as one of the UAE’s most active developers. In the short period since Arada was launched, the company has amassed projects valued at a total of AED33 billion, spread over a 48 million square foot area, with 34,000 units in its backlog. So far, Arada has delivered 2,500 units, with another 6,500 currently under construction.
The company’s first project, Nasma Residences, was launched in March 2017 and swiftly became Sharjah’s fastest-selling community. Nasma Residences was completed earlier this year, following the delivery of the sixth and final phase.
In September 2017, Arada launched the AED24 billion mixed-use megaproject, Aljada, which was unveiled by HH Sheikh Dr Sultan bin Muhammad Al Qasimi, the Ruler of Sharjah. Aljada is Sharjah’s largest ever project and has also witnessed record sales. So far, 1,500 homes at Aljada have been completed, and Arada is aiming to deliver another 5,000 units in 2022.
Masaar, a 4,000 villa and townhouse community also located in Sharjah, was launched at the beginning of 2021, and the developer is hard at work constructing the 450 homes in the first phase of the project.
Following on from its success in Sharjah, Arada is now diversifying aggressively into other markets, including Dubai. In the last quarter of 2022, the developer will launch two new projects in Dubai, including on the last remaining beachfront location on the crescent of The Palm Jumeirah islands. The company is also looking at further project sites in Sharjah, Dubai, Abu Dhabi and in Saudi Arabia.
Perhaps the company’s biggest achievement in the last year has been the award of favourable ratings from Moody’s and Fitch, which were a precursor to the successful conclusion of Arada’s debut public financing deal, a $350 million sukuk.
As Group Chief Executive Officer of Arada, Alkhoshaibi is responsible for all aspects of corporate performance, including the execution of a successful long-term strategy, as well as planning, development, marketing and sales, all of which have added considerable shareholder value. In the short space of time since the company was launched, Alkhoshaibi has also been responsible for the recruitment of a 550-strong team of real estate professionals, each of whom have extensive experience in this field.