Acquisition of 70% of the “Abu Dhabi Business Forum”, which includes various offices, warehouses and industrial facilities in Abu Dhabi Industrial City “ICAD”
The company will focus, across the unithis business The new investment in logistics assets, mainly in the UAE, with the possibility of expansion in Saudi Arabia and Egypt
Abu Dhabi, UAE: Aldar Investments, the leading real estate investment platform in the region that owns and manages a diversified portfolio of real estate assets worth more than 22 billion dirhams, announced today that it is completing its acquisition of a 70% stake in the Abu Dhabi Business has. Forum ”complex, whose assets are valued at more than 500 One million dirhams, with the strategic partner retaining the remaining 30% stake.
This acquisition represents the establishment of Aldar’s Logistics Business Unit, a new unit focusing on logistics asset investments and falling under the umbrella of Aldar Investments, which will focus primarily on the UAE market with the possibility of expansion in Saudi Arabia and Egypt. Following the completion of its acquisition of Abu Dhabi Business Forum, Aldar Investments aims to evaluate more acquisition opportunities through its new Logistics Asset Unit, with the aim of increasing and diversifying its investments in the sector.
Abu Dhabi Business Forum is a leading real estate development and management company in Abu Dhabi. It owns a complex of warehouses, offices and industrial facilities in a strategic location in Abu Dhabi Industrial City (“ICAD”) and has a net rental area of approximately 166,000 square meters. The complex contains three office buildings, warehouses covering an area of 132,000 square meters, as well as undeveloped industrial plots that will enable future expansion. The occupancy rate of the logistics facilities in the complex currently exceeds 90%, with long-term leases with large tenants including Spinneys, the supermarket and online grocery shopping company, ZonesCorp, the operator of specialized economic zones, and twofour54, the leading free zone Media in Abu Dhabi. The office sector within the “Abu Dhabi Business Forum” complex, together with the undeveloped pieces of land, will offer great potential and opportunities for further expansion and growth.
At this event, Jassim Busaiba, CEO of Aldar Investments, said: “We see very promising potential and opportunities for growth and expansion in the real estate and logistics sector in the region, which has strong foundations and pillars driven by efforts to developing infrastructure and the continued growth of the digital economy. Logistics: Immediately increase the returns of our diversified real estate investment portfolio and improve its risk resistance. As one of the leading investment institutions, we have the unique ability and capabilities to enhance our income growth through an active approach to asset management. This includes investing in digital technology and digital transformation technologies To ensure that the assets we acquire meet the ever-changing needs of tenants, as well as keep pace with the demands of the future. “
The logistics sector in the UAE benefits from major investments in the transport and infrastructure sectors, which accelerated following the announcement of the “50 projects”, a series of development and economic projects aimed at slowing down the development process in the UAE accelerate and make it a comprehensive center in all sectors. These projects include an investment of 50 billion dirhams in a railway network to transport goods and passengers across the country, and will complement the first phase of the national railway network, “Etihad Train”. Abu Dhabi also invests heavily in ports and integrated industrial zones, including the Khalifa Industrial City (KIZAD) and Abu Dhabi Industrial City (ICAD).
Aldar Investments also oversees Aldar Real Estate Investment Company, the region’s largest diversified real estate investment company, which will now add logistics properties as one of its asset classes. Aldar Real Estate Investment received a Baa1 rating from Moody’s, the highest credit rating given to a non-governmental company in the region.
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For more information, please contact the following numbers:
Obaid Al Yamahi
Aldar Real Estate Company
+971 810 2 5555
Sarah Abdel Bari
+971 4 560 9638
About Aldar Company
Aldar is a pioneer in real estate development and management in the UAE, as it adopts a diversified and sustainable operating model supported by two major companies, Aldar Development and Aldar Investments.
Aldar Development Company continues its leadership role in developing integrated communities that enrich the lives of residents across the most sought-after destinations in the Emirate of Abu Dhabi, including Yas Island, Saadiyat Island, Al Raha Beach and Al Reem Island . It also owns a 65 million square meter land portfolio, consisting of three business units: Al Dar Enterprises, and will be responsible for managing the fee-based project management business unit, including a portfolio worth 45 billion dirhams of civic housing and major infrastructure projects; “Al Dar for Entrepreneurship”, which is in charge of seizing new business opportunities and developing areas of innovation; and “Al Dar Misr”, a platform focusing on the promising and profitable Egyptian real estate market, as a major market for the development of integrated communities for mixed use.
Aldar Investments consists of the Asset Management Unit of the Aldar Group, which includes a portfolio of AED 20 billion of recurring income-producing real estate assets in the retail, residential, commercial and hotel communities. It also manages the three main platforms: Aldar for Education, Aldar Properties and Aldar Hospitality and Leisure. The Aldar Education platform includes a portfolio of educational assets, including Aldar Academies, a leading educational group in Abu Dhabi with a portfolio of 20 schools and more than 26,000 students in addition to a growing network of 3,000 teachers who belongs to more than 100 nationalities, which adopts a wide range of Educational curricula and additional services such as the Teacher Training Academy.
While “Aldar Properties” integrates commercial and residential real estate operations within the portfolio of “Provis”, a property management company, it also includes the management of communities through an integrated property management platform. Aldar Hospitality and Leisure Company is responsible for overseeing Aldar’s hotel and leisure asset portfolio, which is located primarily on Yas Island and Saadiyat Island, in addition to Ras Al Khaimah. Aldar’s hotel portfolio includes 11 hotels, with a total of 3,600 hotel rooms, in addition to managing operations across golf courses, beach clubs and marinas.
Aldar’s shares are listed on the Abu Dhabi Securities Exchange (trading code: ALDAR: UH), and the company’s business generates stable recurring profits and income, and has a broad and diversified shareholder base. Aldar adopts the best standards of corporate governance, and is committed to managing sustainable operations over the long term, in order to continually add value to its shareholders.
Aldar adopts an ambitious vision as it strives to be the most trusted property developer and manager in the region, and it plays a crucial role in developing high-quality, comfortable destinations that meet the needs of community members and across the ingredients and abilities possess what is needed. for work, life and leisure.