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

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.