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Abu Dhabi's new Aldar Investment to own $5bn property portfolio

Recurring revenue assets at the newly formed Aldar Properties company will include more than 5,000 residential units and 50ha of prime retail and commercial space

Aldar HQ, the Middle East's first circular building, is part of the newly formed Aldar Investment Properties' portfolio.
Aldar HQ, the Middle East's first circular building, is part of the newly formed Aldar Investment Properties' portfolio.

Aldar Properties has created the region’s largest diversified real estate investment company after a recent decree gave the development giant full onshore real estate ownership rights.

The new firm, Aldar Investment Properties, announced in a statement by the firm on 12 September, will take ownership of some of Abu Dhabi’s high quality, revenue-generating real estate assets, valued at $5.4bn (AED20bn).

Incorporated at Abu Dhabi’s international financial centre, Abu Dhabi Global Market, the new subsidiary features recurring revenue assets including more than 5,000 residential units and 50ha of prime retail and commercial space.

READ: Aldar acquires $1bn worth of Abu Dhabi real estate assets from TDIC

This includes assets such as Yas Mall, the Aldar headquarters building, and The Gate Towers and Arc, in addition to 2,400 hotel keys – predominantly on Yas Island.  

The subsidiary will be fully owned by Aldar, and 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”.

The move follows a recent Abu Dhabi Executive Council Decree that extends full onshore real estate ownership rights to Aldar Properties and its subsidiaries in Abu Dhabi.

Speaking on the move, HE Mohamed Khalifa Al Mubarak, chairman of Aldar Properties, said: “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.

READ: Abu Dhabi's Aldar and Dubai's Emaar form $8bn property JV

“As the owner of $5.4bn of prime real estate assets, Aldar Investments provides an opportunity for investors to benefit from Abu Dhabi’s AA rated economy.”

Talal Al Dhiyebi, Aldar’s chief executive officer, added: “Aldar Investments allows us to accelerate growth opportunities and unlock value for shareholders. It is the latest of a series of initiatives that demonstrates

“Aldar’s leading role in Abu Dhabi’s real estate industry and builds on significant milestones including the strategic partnership with Emaar and acquisition of assets from TDIC.”

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Construction Week - Issue 745
Jun 30, 2019