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The Abu Dhabi-listed Aldar has invested 530 million UAE dirhams ($144 million) for acquiring logistics assets in the UAE capital’s Al Dhafra region.
The assets, which are located at AlMarkaz Industrial Park, an industrial and business park development, will add 182,500 sqm of net leasable area (NLA) to Aldar Investment’s income-generating logistics portfolio, the company said.
The freehold assets, developed by Waha Land, a wholly owned subsidiary of Waha Capital, has an economic zone status, with Aldar saying the deal also leaves rooms for further development at the location.
Aldar’s portfolio of logistics assets includes the Abu Dhabi Business Hub and 7 Central in Dubai Investments Park, as well as upcoming assets at National Industries Park in Jebel Ali and sites in Dubai South.
(Writing by Bindu Rai, editing by Seban Scaria)
