Developer Expands Portfolio with Construction Firm Acquisition

Sharjah-based developer Arada has acquired the New South Wales arm of Roberts Co., an Australian construction firm, to bolster its residential project in Sydney. The deal includes an immediate Dh47 million recapitalization, safeguarding 120 direct jobs and providing stability for an additional 600 construction workers in the city. This acquisition aligns with Arada's plans to launch sales and construction of its first Australian projects by the end of 2025, which will involve over 2,000 homes.

Arada plans to invest up to Dh235 million to expand Roberts Co. into new sectors and regions, aiming for Dh2.3 billion in annual revenue by 2028. This acquisition will give Arada greater control and cost efficiencies, as well as reduced risk in delivering its future projects in Australia, according to Ahmed Alkhoshaibi, Group CEO of Arada. The deal ensures uninterrupted progress on four existing construction projects in Sydney, including schools, a residential project, and a children’s hospital.

Key members of Roberts Co.'s leadership team, including Executive Chairman George Kostas, will remain in their roles to ensure continuity. Arada intends to invest significantly in the company to expand into new markets and sectors, including the UAE. The developer previously announced plans for Dh6 billion worth of development in Australia, including major new communities in Sydney's suburbs, which will deliver a total of 2,500 homes.