Aldar invests Dhs1b to expand its logistics real estate business – Gulf Today

Aldar invests Dhs1b to expand its logistics real estate business – Gulf Today

The new facility is strategically positioned in one of Dubai’s most established industrial areas, DIP.

Aldar Properties has announced that it is investing a further Dhs1 billion to expand its logistics real estate business in Dubai and Abu Dhabi. Having first entered the logistics sector with the majority acquisition of Abu Dhabi Business Hub (ADBH) in 2022, this new investment includes acquiring operational assets and developing ready-to-lease and build-to-suit options in response to strong demand for Grade A logistics facilities.

Marking its first logistics acquisition in Dubai, Aldar has bought 7 Central logistics hubs and an adjacent plot, which, once developed, will almost double the current gross leasable area (GLA) of 19,000 sqm.

The facility, which was sold by Seven Seas Steel Industries, is strategically positioned in one of Dubai’s most established industrial areas, Dubai Investments Park.

The company has also created a healthy development pipeline and will build 233,000 sqm of new Grade A logistics facilities across the UAE. This includes single-tenanted facilities and logistics parks in Dubai, totalling 200,000 sqm of GLA that will be developed in partnership with established logistics real estate players, and a 33,000 sqm GLA expansion of the company’s premium logistics facility, ADBH, in Abu Dhabi.

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