Abu Dhabi’s Aldar acquires KEZAD portfolio from AD Ports for $177mln
Abu Dhabi-based property developer Aldar said it has acquired an industrial and logistics portfolio from AD Ports Group’s subsidiary Khalifa Economic Zones Abu Dhabi (KEZAD) for AED 650 million ($177 million)
A total of 22.2723% of the total issued shares has been offloaded to Emirates Power Investment, making Dubai Holding group the largest shareholder in the company, the Burj Khalifa developer confirmed on Monday.
The portfolio acquisition comprises a multifamily community in New Jersey, and two senior housing properties in Orange County, California and Long Island, New York.
The agreement covers the construction and operation of a 360-kilometre railway linking the mining areas of Al-Shidiya and Ghor Al-Safi in Jordan to its Aqaba port.
