UAE: Aldar to buy 4 commercial towers in Abu Dhabi Global Market for Dh4.3 billion

UAE: Aldar to buy 4 commercial towers in Abu Dhabi Global Market for Dh4.3 billion

Deal with Mubadala Investment Company one of country's largest real estate transactions

Published: Thu 28 Jul 2022, 11:30 AM

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 centre 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 Dh4.3 billion, representing one of the largest real estate transactions in the UAE bringing Aldar’s total capital deployment into recurring income assets during 2022 to over Dh7 billion.

Developed by Mubadala in 2013, the Grade A office towers at ADGM are built to international standards and are the first in the UAE to achieve LEED Core and Shell Gold precertification by the US Green Building Council. The buildings have a ventilated