UAE developer Arada has teamed up with Alya Developments to explore co-investment opportunities in premium property in the Emirates and Saudi Arabia, following the former's entry into the kingdom. Arada's newly established investment management platform, Arada Capital, and Alya signed a preliminary agreement to explore premium developments in the Emirates and Saudi Arabia under a potential Dh6 billion ($1.63 billion) pipeline, they said in a joint statement on Thursday.