Abu dhabi: Aldar has successfully acquired high-quality warehousing and light industrial real estate assets in Abu Dhabi's Al Dhafra region from Waha Capital for AED530 million. The acquisition adds 182,500 sqm of net leasable area to Aldar Investment's logistics portfolio at ALMARKAZ Industrial Park, a prominent industrial and business park development.
According to Emirates News Agency, the freehold assets are part of the 6 million sqm ALMARKAZ Industrial Park, developed by Waha Land, a subsidiary of Waha Capital. The park holds special economic zone status, providing opportunities for Aldar and Waha to explore future collaborations at the site. ALMARKAZ benefits from strong infrastructure and the growing demand for logistics space due to increasing intra-regional trade, e-commerce, and population growth. The buildings' flexible design allows tenants to choose from various unit sizes and building heights.
The newly acquired assets are nearly fully occupied with a diverse tenant base including international, regional, and government-related entities. This addition enhances Aldar's logistics portfolio, which includes Abu Dhabi Business Hub and 7 Central in Dubai Investments Park, as well as upcoming projects at National Industries Park in Jebel Ali and Dubai South.
Jassem Salah Busaibe, CEO of Aldar Investment, stated, "The acquisition of assets at ALMARKAZ from Waha is another step in Aldar's ongoing expansion within the UAE's logistics sector, aligning with our strategy to scale and diversify our recurring income streams. Our logistics platform continues to grow across Abu Dhabi and Dubai, capitalizing on demand for well-located premium logistics and industrial space."
The transaction marks a strategic milestone for Waha, highlighting over a decade of investment into transforming ALMARKAZ into a thriving logistics and industrial hub. Mohamed Hussain Al Nowais, Managing Director of Waha Capital, remarked on the successful transformation and value creation achieved through Waha Land's development efforts at ALMARKAZ.
Aldar's logistics segment remains a priority for expansion, with its portfolio including the Abu Dhabi Business Hub and 7 Central logistics hub in Dubai. Aldar is also developing logistics facilities in Dubai South and has partnered with DP World to develop a 146,000 sqm logistics park at National Industries Park in Jebel Ali.