Aldar Properties, a prominent real estate firm headquartered in Abu Dhabi, has announced an ambitious investment plan. The company aims to deliver new commercial, retail, and hospitality assets in key destinations across the city. Here are the highlights of this exciting development:
Investment Details
- Investment Amount: Dh5 billion
- Delivery Timeline: The new assets will be delivered in a phased manner between 2025 and 2027.
Key Destinations
- Yas Island: A 12-storey office tower is currently under development next to the Yas Plaza Hotels. This project is expected to be handed over in 2025 and will provide 25,000 square meters of new leasable area, including retail space.
- Saadiyat Island: Aldar will create a business park featuring four Grade A commercial office buildings at Saadiyat Grove, an integrated mixed-use development. The project will offer approximately 26,000 square meters of new leasable area and is set for completion in 2027.
- Al Maryah Island (Financial District): Building on its successful partnership with Mubadala, Aldar will add a second Grade A commercial tower to the site of the 37-storey office building announced last year. This new project will provide 98,000 square meters of leasable area and cater to the growing demand for office spaces within the Abu Dhabi Global Market (ADGM).
Strategic Approach
Talal Al Dhiyebi, Group CEO of Aldar Properties, emphasized the company’s disciplined acquisition and develop-and-hold approach. By expanding its high-value asset portfolio, Aldar aims to increase recurring income streams and achieve long-term capital appreciation. The integrated business model, spanning master planning, development, leasing, and active asset management, positions Aldar for sustained growth.
Occupancy and Outlook
Aldar’s commercial property portfolio currently boasts an impressive 95% occupancy rate. The recent acquisition of the four ADGM towers and Al Maryah Tower in 2022 further strengthened the company’s position. In total, the new assets across the three destinations will increase Aldar’s commercial net leasable area by 31%, reaching 549,000 square meters. As Abu Dhabi continues to evolve as a global business hub, Aldar Properties remains at the forefront of shaping the city’s skyline and contributing to its economic growth.
