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Abu Dhabi-based developer and investor Aldar has acquired two institutional-grade industrial and logistics assets in from a subsidiary of AD Ports Group for 570 million dirhams ($155 million).
The acquisition adds to Aldar’s recurring income portfolio.
The acquisition from Khalifa Economic Zones (KEZAD) comprises two Grade A assets, occupied by Noon as e-commerce fulfilment centre and Emtelle, for the manufacture of fibre optic solutions for the telecoms sector.
(Writing by Brinda Darasha; editing by Seban Scaria)
