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  • Writer's pictureTeam CargoTalk

Aldar invests AED 1 bn, expands its logistics business in Abu Dhabi



Aldar Properties is investing AED 1 billion to expand its logistics real estate business in Dubai and Abu Dhabi. Having first entered the logistics sector with the acquisition of Abu Dhabi Business Hub in 2022, this investment includes the acquisition of operational assets and the development of ready-to-lease and build-to-suit options in response to demand for Grade A logistics facilities. Marking its first logistics acquisition in Dubai, Aldar has bought seven Central logistics hub and an adjacent plot, which once developed will double the current gross leasable area (GLA) of 19,000 sq. mts. The facility, sold by Seven Seas Steel Industries LLC, is in one of Dubai’s industrial areas, Dubai Investments Park. The company will build 233,000 sq. mts. of new Grade A logistics facilities across the UAE. This includes single tenanted facilities and logistics parks in Dubai, totalling 200,000 sq. mts., to be developed in partnership with established logistics real estate players, and a 33,000 sq. mts. GLA expansion of the company’s premium logistics facility, ADBH, in Abu Dhabi.

 

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