“We are not looking at the tallest or largest properties, but there are plans to create new projects, urban centres, communities. What we want to achieve at this point of time is that, we want to do the right things – create right communities, regardless of the size,” Sheikh Sultan bin Ahmed Al Qasimi, Chairman of Basma Group and Chairman of ARADA– the new joint venture with Prince Khaled bin Alwaleed’s KBW Investments – told Gulf Property, smiling. However, his smile says a lot about what is in store. When Prince Khaled bin Alwaleed’s business entities join hands with another entity, there is usually more to the deal than meets the eye. For one, his company has just announced a cluster of 800 villas and townhouses in a new self-sustained community – the Dh1.5 billion Nasma Residences, next to Tilal City – a project being developed under his close supervision.
ARADA is a partnership enterprise jointly founded by KBW Investments Chairman HRH Prince Khaled bin Alwaleed bin Talal and Basma Group Chairman HE Sheikh Sultan bin Ahmed Al Qasimi