Stock-Aldar-(Office)
Aldar will build more offices, retail and hospitality assets in Abu Dhabi between 2025-27. And spend Dh5 billion for this. Image Credit: Supplied

Dubai: Aldar Properties is to put in an additional Dh5 billion to create income-generating assets within Abu Dhabi, as the master-developer makes a push to broadbase - and future-proof - its revenue creation.

These assets will be held in the company’s investment portfolio, and are to be delivered in phases between 2025 and 2027. "The ‘develop-and-hold’ approach complements Aldar’s ongoing acquisition of recurring income assets," the company said in a statement. It also 'allows the company to activate its landbank through the development of a variety of real estate asset classes'.

Aldar’s new investments will focus on value creating commercial, retail and hospitality assets, which then gets added to the already substantial develop-and-hold portfolio that includes the likes of Yas Mall, office towers at Al Maryah island, and logistics assets.

"Aldar is driving rapid expansion of its high-value asset portfolio through a disciplined acquisition and develop-and-hold approach, to significantly increase recurring-income streams and long-term capital appreciation," said Talal Al Dhiyebi, Group CEO of Aldar Properties.

Offices

Aldar will develop new commercial assets at three prime destinations - Yas Island, Saadiyat Island, and Al Maryah Island. This will include a 12-storey office tower, under development next to the Yas Plaza Hotels on Yas Island (and  expected to be handed over in 2025). The project will offer 25,000 square metres of leasable area (NLA), inclusive of retail space.

Business park

Aldar is to build a business park with approximately 26,000 square metres of leasable area at Saadiyat Grove, amixed-use development in Abu Dhabi’s Cultural District. Set for completion in 2027, the project incorporates four Grade A office buildings.

At the financial hub on Al Maryah Island, Aldar with Mubadala will add a second Grade A commercial tower at the site of the 37-storey office building announced in 2023. This 'amalgamated approach will take the total NLA at the site to 98,000 sqm and crucially expand the availability of Grade A office space within ADGM'  once completed in 2027. Aldar had bought four ADGM towers and Al Maryah Tower in 2022.