ARADA, a joint venture between KBW Investments and Basma Group, has signed a management agreement with Emaar Hospitality Group, the hospitality and leisure subsidiary of Emaar Properties PJSC, to launch three new hotels in Aljada in Sharjah, Invest-Gate reports.
Under the terms of the agreement, Emaar Hospitality Group will manage Address Hotels and Resorts which includes 150 hotel rooms and 150 residences, Vida Hotels and Resorts, including 175 rooms and 120 residences, and Rove Hotels, including 300 rooms, located in Aljada, a 24-mn-square-foot integrated megaproject in Sharjah.
Olivier Harnisch, CEO of Emaar Hospitality Group, said that the three hotel brands are expanding to Sharjah for the first time.
“Our agreement with Emaar will bring proven hospitality competencies to [Aljada] that will transform Sharjah’s economy,” His Excellency Sheikh Sultan bin Ahmed Al Qasimi, chairman of ARADA, said.
Supreme Council Member and Ruler of Sharjah Al Qaismi had launched Aljada in September 2017 in the heart of Sharjah. The project will be delivered in phases, between 2019 and 2025.