Real Estate Company Acquires Logistics Assets to Expand Portfolio

Aldar Properties has acquired an industrial and logistics portfolio from a subsidiary of AD Ports Group for Dh650 million, expanding its presence in Abu Dhabi's key economic zone. The deal includes three multi-let warehouses in KEZAD's Al Ma'mourah cluster, totaling 163,000 square meters of income-generating space. These warehouses are 97% occupied by around 80 tenants from various sectors, including logistics, food and beverage, and technology, with anchor tenants like DHL, Spinneys, and Noatum Logistics. Aldar will now manage the assets.

This acquisition follows Aldar's previous purchase of warehouses in KEZAD, increasing its total industrial and logistics portfolio to over 700,000 square meters. Furthermore, Aldar has a pipeline exceeding 1.5 million square meters of leasable space. Jassem Saleh Busaibe, CEO of Aldar Investment, highlighted the deal as a sign of confidence in Abu Dhabi's economic strength and the demand for quality real estate, particularly in KEZAD, a strategic logistics hub.

For AD Ports Group, the sale is part of a capital recycling strategy. Abdullah Al Hameli, CEO of the Economic Cities and Free Zones Cluster, stated that the proceeds will support further investment in warehouse infrastructure and help de-leverage the Group’s balance sheet. The transaction, the second between the two companies in under a year, underscores investor confidence in KEZAD's industrial ecosystem and the resilience of Abu Dhabi's logistics real estate market.

KEZAD's strategic location, within 10 kilometers of Khalifa Port and with direct access to major highways and Etihad Rail, makes it a crucial logistics hub. This acquisition strengthens Aldar's income-generating real estate platform, which has over Dh49 billion in assets under management, and complements its Dh20.1 billion develop-to-hold pipeline scheduled for delivery over the next four years.