Aldar Properties, one of the leading real estate developers, investors and asset managers in the UAE, is investing a further AED 1 billion to expand its logistics real estate business in Dubai and Abu Dhabi. Having first entered the logistics sector with the majority acquisition of Abu Dhabi Business Hub (ADBH) in 2022, this new investment includes the acquisition of operational assets as well as the development of ready-to-lease and build-to-suit options in response to strong demand for logistics facilities.
Marking its first logistics acquisition in Dubai, Aldar has bought the 7 Central logistics hub and an adjacent plot which once developed will almost double the current gross leasable area of 19,000 m2. The facility, which was sold by Seven Seas Steel Industries, is located in Dubai Investments Park.
The company has also said it will build 233,000 m2 of new logistics facilities across the UAE. This includes single tenanted facilities and logistics parks in Dubai, totalling 200,000 m2, that will be developed in partnership with established logistics real estate players, and a 33,000 m2 expansion of the company’s ADBH logistics facility in Abu Dhabi. The ADBH warehouse portfolio is fully leased at its current capacity of 132,000 m2 to a range of tenants, including Etihad, Mubadala and Twofour54.
