Aldar-Mubadala JV buys 99%-occupied Masdar City Square for Dh918 million

Seven-building office complex is 99% occupied and lifts JV portfolio to Dh4.7b

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Dubai: Aldar and Mubadala Investment Company have acquired Masdar City Square for Dh918 million through their joint venture, taking the value of their Masdar City real estate portfolio to Dh4.7 billion.

The seven-building commercial complex adds more than 47,000 square metres of net leasable office space to the partnership’s holdings and was completed in the first quarter of 2026.

Masdar City Square is already 99% occupied, with tenants including TAQA, the Department of Energy, Emirates College and Mohamed bin Zayed University of Artificial Intelligence.

Portfolio grows to Dh4.7 billion

The deal expands a joint venture established by Aldar and Mubadala in 2024 to invest in Masdar City.

Masdar City Square sits near Zayed International Airport and has direct access to major highway networks connecting Abu Dhabi and Dubai.

Offices already near full occupancy

The acquisition gives the JV another newly completed commercial asset with a tenant base spanning energy, education and artificial intelligence.

The buildings are designed to achieve LEED Platinum and WELL Gold certifications and include solar photovoltaic systems and passive cooling techniques.

The complex also includes a net-zero energy headquarters building currently occupied by Abu Dhabi Department of Energy.

JV now holds more than 158,000 sqm of offices

The acquisition follows earlier transactions completed through the Masdar City-focused JV, including 17 assets within the Masdar City Green REIT and The Link at Masdar City, which was completed in the first quarter of 2026.

With Masdar City Square added, the partnership now owns more than 158,000 square metres of net leasable commercial space.

Tenants across the wider portfolio include IRENA, Masdar, Siemens, G42 and the UAE Space Agency, while the weighted average unexpired lease term is about 5.2 years.

The JV also owns more than 1,400 residential units in Masdar City, all of which are fully occupied.

Nivetha Dayanand is Assistant Business Editor at Gulf News, covering aviation, financial markets and commodities. A business and financial journalist with a strong interest in multimedia storytelling, she regularly takes complex financial and economic subjects beyond the written word, producing explainer videos that make them easier for a wider audience to understand. Nivetha has interviewed senior policymakers, business leaders and global financial figures both on and off camera. Her past guests include UAE Minister of Economy and Tourism Abdulla bin Touq Al Marri, Khaled bin Alwaleed Al Saud, a member of the House of Saud and the founder and CEO of KBW Ventures, Jihad Azour, Director of the Middle East and Central Asia Department at the International Monetary Fund and Indian ministers Hardeep Singh Puri and N. Chandrababu Naidu. She has also hosted and moderated panels, conferences and awards shows, bringing her newsroom experience to live conversations on business, finance and the economy. An Erasmus Mundus journalism alum, Nivetha is drawn to stories that affect people directly and to reporting that gives a platform to voices that might otherwise go unheard. She was among the first journalists to speak to Petrofac employees in the UAE about unpaid salaries, broke the news of the planned demolition of Dubai’s well-known “Toyota Building”, and helped set the record straight on widely circulated claims that a giant replica of the Moon was coming to Dubai. More recently, her exclusive interview with EDGE Group CEO Hamad Al Marar revealed how the UAE-based defence group deployed its systems along the country’s shore border and established a geofence around the UAE within 48 hours of the February 28 escalation. Prior to joining Gulf News, Nivetha worked at ITP Media, where she helped launch Finance Middle East, a new publication covering the region’s financial sector. Her role spanned reporting and editing, video production, interviews and events. Across print, digital, and video, she focuses on finding the people behind business stories and explaining why those stories matter to the audience reading or watching them.

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