Aldar acquires logistics assets in AlMarkaz Industrial Park for $144.3mn
The assets add 182,500 sqm of net leasable area (NLA) to Aldar Investment's income-generating logistics portfolio, and are located at the 6 million sqm AlMarkaz Industrial Park. Developed by Waha Land, a subsidiary of Waha Capital, the Park enjoys special economic zone status.
Aldar expands logistics portfolio in Al Dhafra
The flexible design of the buildings acquired by Aldar allows tenants to select from a range of unit sizes and building heights, offering modularity.
AlMarkaz has high-quality infrastructure and benefits from the growing demand for logistics space driven by increasing intra-regional trade, e-commerce and population growth.
At near full occupancy with a diverse base of international, regional and government-related tenants, the acquisition adds to Aldar's growing portfolio of logistics assets including Abu Dhabi Business Hub and 7 Central in Dubai Investments Park, as well as upcoming assets at National Industries Park in Jebel Ali and sites in Dubai South.
The transaction will increase Aldar's net leasable area to more than 600,000 sqm, including operational assets and projects under development.
Jassem Salah Busaibe, Chief Executive Officer of Aldar Investment, commented: 'The acquisition of assets at AlMarkaz is another step in Aldar's ongoing expansion within the UAE's logistics sector, aligning with our strategy to scale and diversify our recurring income streams.
'Our logistics platform continues to grow across Abu Dhabi and Dubai – capitalising on demand for well-located premium logistics and industrial space – and the assets at AlMarkaz provide well-established and high-quality warehousing with strong fundamentals and growth potential.'
It's also a milestone moment for Waha, which has invested in AlMarkaz for over a decade, leading to the successful transformation of a greenfield site granted by the Abu Dhabi Government into a thriving logistics and industrial hub.
Mohamed Hussain Al Nowais, Managing Director of Waha Capital, added: 'Waha Capital is proud to have supported Waha Land 's transformation of AlMarkaz into a key pillar of Abu Dhabi's logistics and industrial landscape. Over more than a decade, our backing has enabled the creation of a high-quality, income-generating platform that directly contributes to the diversification of the Emirate's economy.
'This transaction is a testament to the strength and scalability of the platform we have built, and to our commitment to long-term value creation across our portfolio.'
Aldar is also developing multiple logistics facilities in Dubai South and has entered a partnership with DP World to develop a 146,000 sqm logistics park at National Industries Park (NIP) in Jebel Ali.
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