CBRE advises Aldar on landmark ADGM Square transaction for USD 1.2bn in Abu Dhabi

CBRE advises Aldar on landmark ADGM Square transaction for USD 1.2bn in Abu Dhabi

Dubai – Global real estate advisor CBRE provided valuation advice to Aldar Properties PJSC on the purchase of four commercial office towers and associated car parks in Abu Dhabi Global Market (ADGM) on Al Maryah Island for approx. USD 1.2 billion (AED 4.3 billion), one of the largest real estate transactions in the UAE.

ADGM Square is a landmark development located in Abu Dhabi, and is home to some of the world’s leading financial, legal, and technology firms. The development consists four prime Grade-A commercial towers with approximately 180,000 sq m of leasable area and two associated car parks, with spaces available for over 5,000 vehicles.

Daniel McCulloch, Head of Valuation at CBRE Middle East, comments: “Aldar’s pipeline of in-country real estate investment deals is providing solid yield evidence for prime assets across multiple sectors. With the backing of international capital, this brings increased transparency to the UAE real estate market, where historically deals have been made behind closed doors. Both Abu Dhabi and Dubai continued to climb in global real estate transparency indices this year and were noted as top global improvers. CBRE is currently advising local and overseas clients regarding entry to the UAE market and with transparency comes an