Aldar has acquired warehousing and light-weight industrial actual property belongings in Abu Dhabi’s Al Dhafra area from Waha for AED 530 million (US$144.3 million).
The belongings add 182,500 sqm of internet leasable space (NLA) to Aldar Funding’s income-generating logistics portfolio, and are positioned on the 6 million sqm AlMarkaz Industrial Park. Developed by Waha Land, a subsidiary of Waha Capital, the Park enjoys particular financial zone standing.
Aldar expands logistics portfolio in Al Dhafra
The versatile design of the buildings acquired by Aldar permits tenants to pick out from a spread of unit sizes and constructing heights, providing modularity.
AlMarkaz has high-quality infrastructure and advantages from the rising demand for logistics house pushed by growing intra-regional commerce, e-commerce and inhabitants progress.
At close to full occupancy with a various base of worldwide, regional and government-related tenants, the acquisition provides to Aldar’s rising portfolio of logistics belongings together with Abu Dhabi Enterprise Hub and seven Central in Dubai Investments Park, in addition to upcoming belongings at Nationwide Industries Park in Jebel Ali and websites in Dubai South.
The transaction will improve Aldar’s internet leasable space to greater than 600,000 sqm, together with operational belongings and tasks beneath improvement.
Jassem Salah Busaibe, Chief Government Officer of Aldar Funding, commented: “The acquisition of belongings at AlMarkaz is one other step in Aldar’s ongoing enlargement inside the UAE’s logistics sector, aligning with our technique to scale and diversify our recurring revenue streams.
“Our logistics platform continues to develop throughout Abu Dhabi and Dubai – capitalising on demand for well-located premium logistics and industrial house – and the belongings at AlMarkaz present well-established and high-quality warehousing with robust fundamentals and progress potential.”
It’s additionally a milestone second for Waha, which has invested in AlMarkaz for over a decade, resulting in the profitable transformation of a greenfield website granted by the Abu Dhabi Authorities right into a thriving logistics and industrial hub.
Mohamed Hussain Al Nowais, Managing Director of Waha Capital, added: “Waha Capital is proud to have supported Waha Land’s transformation of AlMarkaz right into a key pillar of Abu Dhabi’s logistics and industrial panorama. Over greater than a decade, our backing has enabled the creation of a high-quality, income-generating platform that immediately contributes to the diversification of the Emirate’s economic system.
“This transaction is a testomony to the power and scalability of the platform now we have constructed, and to our dedication to long-term worth creation throughout our portfolio.”
Aldar is also developing multiple logistics facilities in Dubai South and has entered a partnership with DP World to develop a 146,000 sqm logistics park at Nationwide Industries Park (NIP) in Jebel Ali.