Aldar has acquired a residential and community retail development in Dubai Studio City from private developer SRG for $299.48 million (AED1.1 billion), expanding its residential-for-rent portfolio in Dubai as part of its long-term recurring income growth strategy.
Scheduled for completion in 2028, the development will comprise six mid-rise buildings with 312 residential units.
The project will also include a community mall featuring retail, recreational and food and beverage concepts, alongside a 16,000 square meter park with activity areas, a jogging track and a playground.
Located in Dubai Studio City, the development is situated in a high-demand residential catchment area with established infrastructure and direct connectivity to Al Qudra Road and Hessa Street. The project is also in close proximity to key employment and lifestyle hubs, including Motor City and Dubai Sports City.
The area offers access to leisure destinations such as Dubai Autodrome, Dubai International Cricket Stadium and Dubai Butterfly Garden, in addition to schools and community facilities.
The acquisition further strengthens Aldar’s Dubai portfolio across residential, commercial, logistics and mixed-use assets. Aldar Investment’s recurring income portfolio in the emirate includes a mixed-use joint venture with Expo City Dubai, a commercial tower in DIFC, a Grade A office tower on Sheikh Zayed Road, and logistics assets in National Industries Park and Dubai South.
Jassem Saleh Busaibe CEO – Aldar Investment
“Dubai is a priority growth market for Aldar, and this acquisition reflects our belief in the city’s residential market and the central role that institutionally owned, professionally managed rental housing plays in meeting the needs of a growing population. Dubai Studio City’s established infrastructure, vibrant community, and strong connectivity make it an excellent location for a high-quality, professionally managed living environment. This transaction is the latest step in a deliberate and broadening strategy to build a diversified portfolio of income-generating assets in Dubai, one that we expect to continue growing as the city attracts increasing global interest and talent.”
Aldar’s joint venture with Dubai Holding has also expanded its development footprint, with three master-planned residential communities launched to date and a pipeline exceeding 2.3 million square meters of gross floor area supporting Dubai’s 2040 Urban Masterplan.
