Today's Edition
Abu Dhabi (Aletihad)
Aldar Properties has announced that it is investing a further Dh1 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 acquiring operational assets and developing ready-to-lease and build-to-suit options in response to strong demand for Grade A logistics facilities.
Marking its first logistics acquisition in Dubai, Aldar has bought 7 Central logistics hubs and an adjacent plot, which, once developed, will almost double the current gross leasable area (GLA) of 19,000 sqm.
The facility, which was sold by Seven Seas Steel Industries LLC, is strategically positioned in one of Dubai’s most established industrial areas, Dubai Investments Park.
The company has also created a healthy development pipeline and will build 233,000 sqm of new Grade A logistics facilities across the UAE. This includes single-tenanted facilities and logistics parks in Dubai, totalling 200,000 sqm of GLA that will be developed in partnership with established logistics real estate players, and a 33,000 sqm GLA expansion of the company’s premium logistics facility, ADBH, in Abu Dhabi.
The ADBH warehouse portfolio is fully leased at its current capacity of 132,000 sqm to diverse institutional tenants, including Etihad, Mubadala and Twofour54.
Talal Al Dhiyebi, Group Chief Executive Officer of Aldar Properties, said, “Asset and geographic diversification are core tenets of our growth strategy, and logistics is becoming an important asset class for Aldar. We are experiencing particularly strong demand for high-grade facilities in the UAE, driven by robust intra-regional trade, high-quality infrastructure, and an expanding digital economy.”
Aldar is experiencing strong demand to develop a range of logistics facilities, including supply chain and fulfilment warehouses to last-mile centres, in the form of single tenanted facilities and larger scale logistics parks. Tenants are in various sectors, primarily focusing on third-party logistics (3PL), e-commerce and retail.
