Abu Dhabi: Aldar Properties, listed on Abu Dhabi bourse, on Wednesday announced that it has set up Aldar Investments, to which it has transfered Dh20 billion of its recurring revenues assets.

Aldar Investments, currently a 100 per cent owned subsidiary of Aldar, is designed to drive greater operational and capital efficiencies that will unlock value for shareholders and create the foundation for a new phase of accelerated growth, a statement from Aldar said on Wednesday.

Incorporated through Abu Dhabi’s international financial centre, Abu Dhabi Global Market (ADGM), Aldar Investments features recurring revenue assets including over 5,000 residential units and over 500,000 sqm of prime retail and commercial space including Yas Mall, Aldar Headquarters and The Gate Towers  Arc, and over 2,400 hotel keys, predominantly on Yas Island.

“Since its establishment in 2004, Aldar has made significant contributions to the development and maturation of Abu Dhabi’s real estate industry, developing and managing some of the Emirate’s most iconic properties,” said  Mohammad Khalifa Al Mubarak, Chairman of Aldar Properties.

“Today, it is an honour to announce another significant milestone in Aldar’s history, the launch of Aldar Investments - the region’s largest diversified real estate asset investment company. As the owner of Dh20 billion of prime real estate assets, Aldar Investments provides an opportunity for investors to benefit from Abu Dhabi’s AA rated economy.”

Aldar Investments can access capital on more favourable terms, independently of Aldar, and intends to issue a new sukuk in the near term.