Staff Report,
Dubai, UAE
Arada, one of Sharjah’s leading megaproject developers largely contributing to the expansion of the emirate’s real estate landscape, has announced the addition of a separate division focusing on hospitality and entertainment following its recurring success in the residential sector. The new Hospitality and Entertainment division incorporates a range of rapidly growing segments including Wellness, Hospitality, Arada’s F&B operations, and Events.
The new division is headed by Amit Arora, Arada’s new Chief Operating Officer, who has recently joined the company from Erth Abu Dhabi. With 28 years of experience in the UAE, Germany, and the US, Arora has previously held leadership roles at The Ritz-Carlton Hotel Company, Emaar Hospitality and FIVE Holdings.
Amit Arora, Chief Operating Officer of Arada, said, “Arada continues to see exceptional growth across a wide range of verticals, and I’m excited to be joining the company at such a promising time. I look forward to working with the Arada team to realise the potential not just of our existing units but the range of new partnerships and products that we are set to announce in the near future.”
Arada’s Wellness unit includes Wellfit, a gym operator in the UAE which runs three flagship fitness centres across Dubai and Sharjah. The master developer’s Hospitality pipeline oversees existing partnerships with brands such as Armani, The Address, Vida and Rove, with further tie-ups to be announced later in 2024.
Other units within the Hospitality and Entertainment division include the management of the Nest accommodation complex at Aljada, Manbat, Arada’s social partnership with the Ministry of Climate and Change and Environment connecting Emirati farmers with consumers to enhance food security in the UAE, and Events, which oversees a wide range of corporate, consumer, and lifestyle events both within and outside Arada’s communities, including the World Skate Championships.
The new division also incorporates Arada’s F&B operations as well as oversee Arada’s new non-residential business.
Ahmed Alkhoshaibi, Group CEO of Arada, said, “We’re delighted to welcome Amit to Arada, where he will streamline, strategise and drive an increasingly important part of our business. The new Hospitality and Entertainment division will allow us to grow our diversified income streams still further, and to deliver on our promise of creating spaces that enable people to live happier, healthier and more meaningful lives.”
Since its launch in 2017, Arada now oversees five developments across Sharjah and Dubai with a total value of Dh60 billion. The master developer has delivered over 9,000 homes since inception and reported a 100 percent increase in sales in 2023 compared to the previous year to Dh7.02 billion.
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Also read: Arada awards Dh615 million contracts to build Azalea, the fourth phase of Masaar
