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Delivery of New Assets Scheduled Between 2025 and 2027
Talal Al Dhiyebi, Aldar Properties’ group CEO, emphasized the company’s strategic focus on expanding its high-value asset portfolio through disciplined acquisition and development strategies. This approach aims to significantly boost recurring income streams and long-term capital appreciation.
Aldar’s integrated business model, spanning master planning, development, leasing, and active asset management, is driving substantial value creation across the real estate spectrum. This holistic approach is fueling growth in the core UAE businesses, spurred by robust demand for premium real estate.
Projects On Three Destinations
Driven by robust demand for office spaces in Abu Dhabi, Aldar will embark on developing new commercial assets across three prominent destinations: Yas Island, Saadiyat Island, and Al Maryah Island.
The upcoming projects include a 12-storey office tower adjacent to Yas Plaza Hotels on Yas Island, with an estimated completion date of 2025. This development will offer 25,000sqm of leasable area, incorporating retail space.
Saadiyat Island will host a business park featuring four Grade A commercial office buildings within the Saadiyat Grove mixed-use development, expected to be finished by 2027, providing approximately 26,000 sqm of leasable area.
Expanding its presence in the financial district on Al Maryah Island, Aldar will introduce a second Grade A commercial tower to complement the existing 37-storey office building, projected to be completed by 2027. This expansion, in collaboration with Mubadala, will offer 98,000 sqm of new leasable area, catering to the escalating demand for office spaces within the Abu Dhabi Global Market (ADGM). This initiative follows Aldar’s acquisition of the four ADGM towers and Al Maryah Tower in 2022.
In total, these new assets across the three destinations will boost Aldar’s commercial net leasable area by 31 percent to 549,000sqm. The company’s commercial property portfolio currently boasts a 95 percent occupancy rate, with a notable surge in occupancy observed at the four ADGM towers, reaching 96 percent by the end of 2023.
Retail Community Assets
Aldar is expanding its retail offerings with the development of 78,000 sqm of net leasable area at Saadiyat Grove, encompassing a central shopping hub, two retail boulevards, and community retail spaces. Additionally, retail community assets will be developed in other areas such as Saadiyat Lagoons, Noya, and Yas Golf Collection.
In the hospitality sector, Aldar will oversee the development and management of a new Nobu-branded hotel on Saadiyat Island, slated for completion in the second quarter of 2027. This 127-key hotel will feature luxurious guest rooms, deluxe suites, a signature Nobu restaurant, and a rooftop bar.
Upon completion, the office and retail assets will be integrated into the Aldar Investment Properties (AIP) portfolio, which currently houses the company’s Dh25 billion income-generating real estate assets.
