Aldar Properties to acquire four commercial towers in Abu Dhabi Global Market

Aldar Properties to acquire four commercial towers in Abu Dhabi Global Market

- Transaction gives Aldar Properties exposure to commercial property in Abu Dhabi Global Market, Abu Dhabi international financial centre

- Four towers were the first buildings in the UAE to achieve LEED Core and Shell Gold precertification by the US Green Building Council when developed by Mubadala in 2013

- Anchor tenants include Abu Dhabi Investment Authority (ADIA), Abu Dhabi National Oil Company (ADNOC), JP Morgan, Blackstone, Reliance Industries and Kraken Exchange

Abu Dhabi – UAE: Aldar Properties PJSC (“Aldar”) has signed an agreement with Mubadala Investment Company to acquire four prime Grade A commercial towers in Abu Dhabi Global Market (ADGM), the international financial center in Abu Dhabi, located on Al Maryah Island.

The transaction includes the four main office towers in ADGM located on Al Maryah Island -- Al Sila, Al Sarab, Al Maqam, and Al Khatem -- with a total net leasable area of 180,000 sqm. Aldar will also take ownership of the North and South car parks, which serve the office towers, and other mixed-use space.

The assets will be held by Aldar Investment Properties (“AIP”), the region’s largest institutional-class real estate platform and are valued at AED 4.3 billion, representing one of the largest real estate transactions in the UAE