Aldar Real Estate Investment Company has announced its intention to acquire in full, the Etihad Plaza and Etihad Airways Center, in a commercial deal with Etihad Airways in the amount of AED 1.2 billion. As part of this deal, Etihad Airways will own 100% of its headquarters complex at 100%.

The three compounds before this acquisition were under joint ownership equally between Aldar Properties and Etihad Airways at 50% for both parties, and this transaction is expected to be completed during the second quarter This year.

This is the first and most noteworthy deal for Aldar Investment since its launch in September of the year 2018. Aldar Investment is a company wholly owned by Aldar Properties, and the largest diversified real estate investment company in Region. With the completion of this transaction, Aldar Investment will acquire the complexes with a value of AED 1.2 billion, in addition to some other assets, in exchange for transferring the ownership of the Etihad Airways headquarters compound entirely to Etihad Airways.

Within the framework of this deal, Aldar will manage the current debts within the partnership in Etihad Plaza and Etihad Airways Center, in line with the debt policy of Aldar Investment that maintains the loan ratio.

To the value in rates of 35% to 40%.

Through this acquisition, Aldar Investment will add to the distinguished asset management portfolio, 789 housing units, 17,940 square meters of office space and 11,000 square meters For shops. Aldar Investment will also be able to achieve AED 100 million in net operating income annually, which was previously recorded as part of the share of profits made from the partnership between Aldar Properties and Etihad Airways. Aldar Investment will benefit from a long-term lease that provides strong returns.

This deal comes after a year full of exceptional achievements for the house, which was embodied in the announcement of a strategic partnership with Emaar Properties in March of 2018, and the acquisition of real estate assets. Distinguished at a value of 3.7 billion dirhams in May of last year, in addition to the establishment of the Aldar Investment Company in September, which is the largest diversified real estate investment company in the region.

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