Eshraq Investments has entered a sales agreement with A9 Downtown Holding Company for a land plot in Sas Al Nakhl, Abu Dhabi, as it seeks to unlock value from its land portfolio.

The land will be sold for 300 million UAE dirhams ($81.69 million), Eshraq said in a statement to the Abu Dhabi Securities Exchange.
A9 Downtown will make the payment in instalments over 24 months.

“The sale reflects the continued strong interest from investors and developers in prime real estate opportunities in Abu Dhabi, particularly in strategic locations,” the statement said.

The proceeds will support future growth plans, including strengthening its investment portfolio, Eshraq said.

(Writing by P Deol; Editing by Anoop Menon)

(anoop.menon@lseg.com)

Subscribe to our Projects' PULSE newsletter that brings you trustworthy news, updates and insights on project activities, developments, and partnerships across sectors in the Middle East and Africa.