アラ還 means "around sixty" as in age. The breakdown: アラ=katakan shortening of English's "around". 還 comes from 還暦, "60th birthday".
This word was set up in 2006, when アラサン (around 30) became a buzzword, followed by アラフォー (around forty). I think these words may be used slightly derisively, to make fun of girls that can't admit to their real age, but don't quote me on that (this is where Dear Reader is free to jump in).
Come to think of it I am アラサン myself, but I also get the sense that these around words only are used for women...
Can I share that I really enjoy your Japanese slang posts? I do!!
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