Abu Dhabi-based leading real estate investment platform, Aldar Investment has completed the acquisition of a 70 percent equity interest in Abu Dhabi Business Hub.
According to the statement, the acquisition marks the creation of the company’s new logistics real estate vertical named Aldar Logistics, which will focus primarily on the UAE, with the potential to expand into Saudi Arabia and Egypt.
Jassem Busaibe CEO – Aldar Investment
“We see strong potential for expansion in warehousing and logistics real estate in the region, a segment that has robust fundamentals driven by infrastructure development and growth of the digital economy. The addition of logistics assets is immediately yield-accretive to our diversified real estate portfolio and further enhances its risk profile. As a major institutional investor, we are also uniquely placed to drive income growth by deploying an active approach to asset management. This includes investing in digital technology and automation to ensure that the assets that we acquire serve the evolving needs of tenants and remain future proof.”
After completing the Abu Dhabi Business Hub transaction, Aldar Investment intends to assess further acquisition opportunities through the newly set up logistics vertical as it seeks to increase its allocation across the sector.
The company said in a statement that the remaining 30 percent of Abu Dhabi Business Hub will be owned by a strategic partner.
Abu Dhabi Business Hub
Abu Dhabi Business Hub is a leading developer and manager of real estate in Abu Dhabi and owns a strategically located warehousing, industrial, and office complex in Industrial City Abu Dhabi. It comprises three office buildings, 132,000 sqm of warehouses, and undeveloped industrial land plots for future expansion.
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