Aldar Real Estate Investment Company has completed the sale of Al Murjan Residential Tower in Abu Dhabi, at a value of 289 million dirhams.
According to Al Khaleej newspaper, this is the second deal for Aldar Investment Company since its launch in September 2018, after the company announced the acquisition of real estate assets from the Union. To fly last February. Aldar Investment is a wholly owned subsidiary of Aldar, and the largest diversified real estate investment company in the region, with assets worth approximately 20 billion dirhams.
The coral tower was sold with an implicit return of 6.6%, which is evidence of the quality of this investment and the strength of its long-term operational performance, as a result of the effective management of the portfolio Its investment assets.
Al Murjan is a residential tower, in addition to providing office and commercial spaces. The tower is located in the Danet Abu Dhabi area between the airport and traffic roads, and it includes 252 housing units spread over 23 floors, Includes studio units, one, two and three bedroom apartments. The ground floor includes 10 units extending over an area of 1,022 square meters devoted to the commercial area, in addition to an office area extending over 1,481 square meters, and includes 8 units.
"This important deal comes after we acquired Etihad Plaza and Etihad Airways Center last month," said Jassem Boussabie, CEO of Aldar Investment. Al-Murjan has witnessed a great turnout by investors, which reflects our successful strategy in achieving added value, by taking advantage of the recurring asset revenues that we have, and our ability to invest and reinvest capital. With this in mind, we are continuing our efforts to evaluate the appropriate opportunities through which we can reinvest the returns.
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