Aldar in deal with Hong Kong firm to sell Saadiyat residential building

Dubai: This time Aldar is selling one of its assets - a residential building at Mamsha Gardens for Dh586 million. The buyer is Hong Kong-based real estate focused private equity firm, GAW Capital Partners.

This is the latter’s first investment in the UAE and reflects the appeal of 'Aldar’s residential portfolio amongst international investors'.

Located in Saadiyat's Cultural District, the building – one of seven at Mamsha Gardens - has 71 apartments and townhouses with a total sellable area of over 16,000 square meters.

Chinese and Hong Kong based buyers accounted for Dh1.5 billion of Aldar’s total UAE development sales in 2024, which is a more than 30-fold increase compared to 2022. This continued into Q1-2025, with Dh1.3 billion in sales recorded.

Private equity firms, local and international, have been active in the UAE's real estate investment space. In the recent past, the likes of Brookfield and GII have signed off on big-ticket deals.

Aldar itself has been a major investor, buying legacy assets in Ras Al Khaimah such as a mall. There have been deals in its home market of Abu Dhabi too, with the wealth fund Mubadala.

"This transaction underscores the strength of Aldar’s development platform and the growing appeal of Abu Dhabi’s increasingly mature real estate market to global investors," said Talal Al Dhiyebi, Group CEO at Aldar. "In the first quarter of 2025, 87% of Aldar’s UAE sales came from international buyers."

At Mamsha Gardens, Aldar is now releasing a seventh building for sale. "The building presents an attractive opportunity for investors targeting the short-term rental segment," said a statement. (Aldar also offers an optional management service for owners.)