Arada acquires New South Wales arm of Roberts Co
Financial Arada acquires New South Wales arm of Roberts Co
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Arada secured the immediate US $20mn recapitalisation of Roberts Co (NSW), which will provide essential stability to another 600 employees across the construction supply chain in Sydney
Arada has acquired the New South Wales arm of Roberts Co, an Australian tier-one commercial construction company known for executing intricate projects across diverse sectors. The strategic move aligns with Arada's expansion plans in Australia, as the UAE-based master developer accelerates its growth in the Australian market.
The developer said it secured the immediate US $20mn recapitalisation of Roberts Co (NSW), which will provide essential stability to another 600 employees across the construction supply chain in Sydney. This move also ensures the jobs of 120 direct employees. Arada said it is on track to launch sales and construction at its first projects in Australia by the end of 2025.
The acquisition empowers Arada to greater control over the development of its future projects in Australia. Moreover, it paves the way for Roberts Co's eventual expansion into new international markets, including the UAE. Arada said that is prepared to invest up to $100mn in Roberts Co's expansion into new sectors and geographies. The ultimate objective is to establish a global presence and achieve annual revenues of $1bn by 2028.
Ahmed Alkhoshaibi, Group CEO of Arada said, 'This acquisition reflects our strong belief in Roberts Co's people, projects, and performance, and will help us to deliver our future projects in Australia with greater control and cost efficiencies, as well as reduced risk. We will now invest significantly into the company in order to bring it to new markets and sectors, including the UAE, and look forward to delivering on our shared vision for high-quality, community-focused development.'
Ridwaan Jadwat, Australia's Ambassador to the UAE added, 'This acquisition highlights the growing depth of the Australia-UAE relationship, underpinned by the recently signed Comprehensive Economic Partnership Agreement. It is a strong example of how closer ties between our two nations are delivering tangible benefits to our communities, supporting sustainable development and fostering long-term economic growth.'
Dr Fahad Obaid Altaffag, UAE Ambassador to Australia said, 'The acquisition of Roberts Co's New South Wales business by Arada demonstrates the UAE's commitment to strengthening economic ties with Australia, which aligns with the opportunities created through the Comprehensive Economic Partnership Agreement. This strategic move not only reinforces the strong economic partnership between our countries but also reflects our shared vision for enhancing people-to-people ties as well as for innovation. We look forward to seeing the positive impact this collaboration will have on local infrastructure, jobs, and the broader Australian economy.'
The acquisition ensures uninterrupted progress across four major construction projects in Sydney, two schools, a residential project, and a children's hospital. These projects are crucial to the state's infrastructure. As part of the transition, key members of the Roberts Co leadership team, including Executive Chairman George Kostas, who previously served as CEO of Majid Al Futtaim Properties, will remain in their roles to maintain continuity and stability after the transaction, the statement explained.
Founded in 2017 with a mission to 'build a better way', Roberts Co has delivered some of New South Wales' most important recent construction projects and has experience across the health, education, commercial, residential, hospitality, industrial, life sciences and defence sectors.
Arada, a company that established its first international office in Sydney in 2024, has announced plans for a $2.5bn development project in Australia. This project aims to create major new communities in Sydney's inner-west, southwest, and Hills Shire suburbs. Together, these communities will provide 2,500 much needed homes to the Sydney market.
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