Arada completes acquisition of Sydney-based contractor
The transaction includes an immediate $20 million (AED47 million) recapitalisation of Roberts Co (NSW) by Arada, securing the jobs of 120 direct employees and providing essential stability to another 600 employees across the construction supply chain in Sydney.
The acquisition gives Arada greater control over the development of its future projects in Australia and also paves the way for Roberts Co's eventual expansion into new international markets including the UAE. Arada is prepared to invest up to $100 million on Roberts Co's expansion into new sectors and geographies, with the goal of building a global presence and targeting annual revenues of $1 billion by 2028, a statement said.
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, said: '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 also ensures uninterrupted progress across four major construction projects – two schools, a residential project and a children's hospital – that are currently under way in Sydney, many of which are critical 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 ensure continuity and stability post the transaction.
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.
Since establishing its first international office in Sydney in 2024, Arada has announced plans for $2.5 billion worth of development in Australia. These include major new communities in Sydney's inner-west, south-west and Hills Shire suburbs that will together deliver 2,500 much-needed homes to the Sydney market.
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