Aldar unveils real estate projects worth $1bn in Abu Dhabi
UAE-based Aldar Investment has announced new real estate projects worth AED 3.8 billion ($1.03 billion), extending its reach across Abu Dhabi’s residential, commercial, and logistics sectors, according to an official statement by Aldar on October 27th.
The new projects will be a part of Aldar’s “develop-to-hold” strategy, which focuses on developing revenue-generating projects that remain under the company’s ownership.
With these new developments, Aldar’s total pipeline of such projects is currently worth AED 17.6 billion.
Post completion, the new assets will join Aldar Investment’s portfolio of income-generating properties estimated at AED 47 billion.
Jassem Salah Busaibe, Chief Executive Officer of Aldar Investment, said the latest projects are a result of strong demand for rental homes, Grade A office space, and logistics facilities in Abu Dhabi.
“The develop-to-hold strategy is a core growth driver for Aldar, enabling us to significantly expand our diverse portfolio of income-generating assets across the UAE while responding to client requirements for professionally managed commercial, residential, logistics, hospitality, retail and education assets,” he added.
Additionally, Property Finder, an online real estate platform, received $250 million in debt financing, signifying the growing demand in the UAE’s real estate market.
Aldar plans to develop nearly 2,000 rental apartments near Zayed International Airport.
On Yas Island, 665 rental homes will be added, including 217 villas and townhouses in a gated community.
The real estate developer will also deliver 448 new apartments as part of an extension to Yas Residential Village, and the project will include community retail, leisure amenities, and green spaces.
Moving on to the commercial projects, Aldar is working on Yas Business Park, which is a four-tower complex offering 47,500 square metres of office space near Yas Mall and Aldar Square.
The project will likely finish by the second half of 2027, providing flexible floor plans, modern facilities, and easy access to retail and leisure amenities.
Leveraging the strong demand for warehousing and distribution hubs, Aldar aims to expand the Abu Dhabi Business Hub (ADBH).
Moreover, Aldar also plans to build Abu Dhabi’s first Tesla Experience Centre, a 5,000-square-metre establishment that will comprise a showroom, service centre, and delivery hub.
Aldar, Maghrebi.org
Want to chase the pulse of North Africa?
Subscribe to receive our FREE weekly PDF magazine
