In Abu Dhabi, Aldar buys more logistics assets for hefty Dh530 million

Dubai: Abu Dhabi real estate giant Aldar continues to add to its logistics and commercial real estate, spending Dh530 million for assets located in the emirate’s Almarkaz Industrial Park, located in Al Dhafra region. Waha Land was the seller.

Aldar had earlier bought commercial real estate assets in Dubai Investments Park, and had seen the category as offering it high-growth prospects. The deal with Waha will add a further 182,500 square meters of net leasable area to Aldar Investment’s logistics portfolio.  

The new assets are located at the 6 million square meter Almarkaz Industrial Park, developed by Waha Land and a wholly-owned subsidiary of Waha Capital. It has a ‘special economic zone’ status. “With further development potential at Almarkaz, the transaction provides an opportunity for Aldar and Waha to explore future collaboration at the site,” said a statement.   

Aldar gets the new properties that are at near full occupancy with a mix of international, regional and government related tenants. They add to Aldar’s portfolio of logistics-themed assets, which include the Abu Dhabi Business Hub and 7 Central in Dubai Investments Park, as well as upcoming assets at National Industries Park in Jebel Ali and sites in Dubai South.

"Our logistics platform continues to grow across Abu Dhabi and Dubai – capitalising on demand for well-located premium logistics and industrial space," said Jassem Salah Busaibe, CEO of Aldar Investment.

"The assets at Almarkaz provide well-established and high-quality warehousing with strong fundamentals and growth potential."