ABU DHABI (ALETIHAD)
A joint venture between Aldar Properties and Mubadala Investment Company has acquired Masdar City Square for Dh918 million, according to a statement issued on Wednesday.
The acquisition raises the value of the joint venture’s portfolio of commercial and residential assets in Masdar City to Dh4.7 billion, the statement said.
Masdar City Square comprises more than 47,000 square metres of net leasable space across seven office buildings. Completed in the first quarter of 2026, the complex is 99% occupied, with tenants including TAQA, the Department of Energy, Emirates College and Mohamed bin Zayed University of Artificial Intelligence.
The statement said the acquisition would expand Aldar’s commercial property portfolio and deepen the joint venture’s presence in Masdar City.
Talal Al Dhiyebi, Group Chief Executive at Aldar, said Abu Dhabi’s economic fundamentals and continued investment in future-focused industries were supporting demand for high-quality commercial property.
“Masdar City Square adds a high-quality, highly occupied asset to our joint venture with Mubadala as we continue to scale our presence in this strategically important destination,” Al Dhiyebi said.
Masdar City Square is located near Zayed International Airport and has direct access to major road networks connecting Abu Dhabi and Dubai, the statement said.
Ali Eid AlMheiri, Executive Director, Diversified Assets, UAE Investments Platform at Mubadala, said the development was a newly completed commercial asset with near-full occupancy and a high-quality institutional tenant base.
“Through our joint venture with Aldar, we are assembling a real estate portfolio that strengthens the operating environment for knowledge-driven industries, advances the UAE’s Net Zero ambitions and contributes to the continued diversification of the UAE economy,” AlMheiri said.
The complex was designed to achieve LEED Platinum and WELL Gold certifications and incorporates solar photovoltaic systems and passive cooling techniques, according to Ahmed Baghoum, Chief Executive Officer of Masdar City.
It also includes a net-zero energy office building that currently serves as the headquarters of the Abu Dhabi Department of Energy.
“The acquisition advances Masdar City’s vision for a connected, sustainable community that supports investment, innovation and growth, creating lasting value for Abu Dhabi,” Baghoum said.
Aldar and Mubadala established the Masdar City-focused joint venture in 2024. Its previous transactions included the acquisition of 17 assets within the Masdar City Green REIT and The Link at Masdar City, which was completed in the first quarter of 2026.
Following the latest acquisition, the joint venture owns more than 158,000 square metres of net leasable commercial space. Its tenants include the International Renewable Energy Agency, Masdar, Siemens, G42 and the UAE Space Agency.
The commercial portfolio has a weighted average unexpired lease term of about 5.2 years. The joint venture’s portfolio also includes more than 1,400 residential units, all of which are occupied, the statement said.