Aldar and Mubadala partner to acquire Grade A office tower on Al Maryah Island

Aldar and Mubadala partner to acquire Grade A office tower on Al Maryah Island

- Transaction bolsters Aldar’s commercial office portfolio and brings its total capital deployment into recurring income assets to AED 7.4 billion in the year to date

- Deal is in line with Mubadala’s role supporting the UAE’s economic diversification, and the development of Abu Dhabi’s real estate sector and international financial centre on Al Maryah Island

Abu Dhabi – UAE: Aldar Properties (“Aldar”) and Mubadala Investment Company (“Mubadala”), an Abu Dhabi sovereign investor, have partnered to acquire Al Maryah Tower, a prime Grade A commercial office property located on Al Maryah Island, Abu Dhabi’s premium lifestyle destination and international financial centre.

The transaction reflects Mubadala’s collaborative approach to driving the growth of Abu Dhabi’s real estate market and provides Aldar with control of all Grade A office space at Abu Dhabi Global Market following the recent acquisition of four commercial towers from Mubadala in July 2022. The deal strengthens the partnership between the two companies as they work to bolster Abu Dhabi Global Market’s burgeoning business ecosystem, enhance its competitiveness, and attract world-class, internationally recognized businesses to its thriving community.

Aldar will hold the controlling stake with 60% ownership, while Mubadala will hold a 40% stake. The asset will be managed by Aldar Investment