Aldar acquires key Abu Dhabi logistics assets from Waha Capital

02/07/2025 04:29 AST

Leading UAE developer Aldar has annoucned that it has acquired quality warehousing and light industrial real estate assets in the Al Dhafra region of Abu Dhabi from Waha for AED530 million ($144 million).

The assets, which are located at the 6-million-sq-m Almarkaz Industrial Park, a flagship industrial and business park development, add 182,500 sqm of net leasable area (NLA) to Aldar Investment's income-generating logistics portfolio.

The Almarkaz Industrial Park, developed by Waha Land, a wholly-owned subsidiary of Waha Capital, enjoys special economic zone status.

With further development potential at Al Markaz, the transaction provides an opportunity for Aldar and Waha to explore future collaboration at the site.

It benefits from quality infrastructure and the growing demand for logistics space driven by increasing intra-regional trade, e-commerce and population growth.

According to Aldar, the flexible design of these acquired buildings allow for tenants to select from a range of unit sizes and building heights, offering excellent modularity.

The assets, which are at near full occupancy with a diverse base of international, regional and government related tenants, add 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, it stated.

Aldar Investment CEO Jassem Salah Busaibe said: "The acquisition of assets at Almarkaz from Waha 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," he noted.

The transaction marks a strategic milestone for Waha, reflecting over a decade of investment into Almarkaz and the successful transformation of a greenfield site granted by the Abu Dhabi Government into a thriving logistics and industrial hub, he added.

Waha Capital Managing Director Mohamed Hussain Al Nowais said: "We are 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. We are pleased to collaborate with Aldar on this milestone as we continue to unlock value and deliver strong returns for our shareholders," he noted.

The logistics segment of Aldar's investment properties portfolio represents a priority area for expansion. Aldar's portfolio includes Abu Dhabi Business Hub and 7 Central logistics hub in Dubai - both of which were acquired in 2024.

The Abu Dhabi developer is also developing multiple logistics facilities in Dubai South. IT had recently entered into 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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