Abu Dhabi-based developer Aldar Properties PJSC have announced the creation of Aldar Investment Properties LLC – one of the region’s largest diversified real estate investment companies. This follows the recent Abu Dhabi Executive Council Decree, extending full onshore real estate ownership rights to Aldar Properties and its subsidiaries in Abu Dhabi. The Company will take ownership of some of Abu Dhabi’s highest quality, revenue-generating real estate assets, valued at AED20 billion ($5.4 billion).
Aldar Investments, currently a 100% owned subsidiary of Aldar, is designed to drive greater operational and capital efficiencies that will unlock value for shareholders and create the foundation for a new phase of accelerated growth.
Incorporated through Abu Dhabi’s international financial centre, Abu Dhabi Global Market (ADGM), Aldar Investments features attractive recurring revenue assets including over 5,000 residential units and over 5.3 million sqft of prime retail and commercial space. These include some of Abu Dhabi’s most recognised assets such as Yas Mall, Aldar HQ and The Gate Towers & Arc, and over 2,400 hotel keys, predominantly on Yas Island.
“Since its establishment in 2004, Aldar has made significant contributions to the development and maturation of Abu Dhabi’s real estate industry, developing and managing some of the Emirate’s most iconic properties. Today, it is an honour to announce another significant milestone in Aldar’s history, the launch of Aldar Investments – the region’s largest diversified real estate asset investment company. As the owner of AED20 billion of prime real estate assets, Aldar Investments provides an opportunity for investors to benefit from Abu Dhabi’s AA rated economy,” says Mohamed Khalifa Al Mubarak, chairman of Aldar Properties PJSC.
“Aldar Investments allows us to accelerate growth opportunities and unlock value for shareholders. It is the latest of a series of initiatives that demonstrates Aldar’s leading role in Abu Dhabi’s real estate industry and builds on significant milestones including the strategic partnership with Emaar and acquisition of assets from TDIC. Building on this positive momentum and the maturity of our portfolio, we have now created a highly attractive real estate investment vehicle. We believe Abu Dhabi’s real estate industry offers a compelling investment case, bolstered by a strong macroeconomic backdrop, commitment to growth and attractive real estate yields,” adds Aldar CEO, Talal Al Dhiyebi.
The creation of Aldar Investments comes at a time when the Government of Abu Dhabi is also demonstrating its commitment to adding fresh impetus into the economy through the recently announced AED50 billion economic stimulus package. This is set to make Abu Dhabi even more attractive by accelerating the economy, providing further momentum in the UAE’s capital and making business easier.