Aldar Properties intends to invest 5 billion dirhams to develop a group of income-generating assets within key destinations in Abu Dhabi, according to the company’s disclosure on Tuesday.
The company, listed on the Abu Dhabi Securities Market, said that the assets, which will be developed in several stages between 2025 and 2027, will be kept in its investment portfolio.
Through this program, the company will develop new commercial assets in three major destinations, Saadiyat Island and Al Maryah Island. These assets include a new 12-storey office tower being developed on Yas Island and expected to be delivered in 2025. The project includes a total leasable area of 25,000 metres.
On Saadiyat Island, the company will develop a 26,000 square meter business park, scheduled for completion in 2027.
The company said that it will expand its partnership with Mubadala Investment by adding a second commercial tower within the financial center on Al Maryah Island in Abu Dhabi, which, when completed in the third quarter of 2027, will contribute to providing a total leasable area of 98,000 metres.
In terms of retail assets, the company is developing 78,000 square meters of leasable experimental retail space.
The company will also develop and manage the new Nobu Hotel on Saadiyat Island, to be completed in the second quarter of 2027.
