Aldar Properties (Aldar), a prominent real estate developer, investor and asset manager in the UAE, has revealed its plan to launch Grade A office tower on Sheikh Zayed Road, adjacent to the Dubai International Financial Centre (DIFC).
The Grade A office tower will span over a net leasable area of 88,000 sqm. The property will include upscale boutique hotel and branded residences, providing guests high quality commercial space as well as extremely well-located F&B options.
This development is expected to be completed by 2027. Its location near the Emirates Towers Metro Station will provide easy access to all transportation routes in Dubai. The announcement marks its first commercial development in the Emirates and follows Aldar’s announced plans in 2023 to develop new commercial assets across three prime locations in Abu Dhabi as it meets growing demand from regional and international blue-chip tenants across the UAE.
Talal Al Dhiyebi Group CEO – Aldar Properties
“Dubai is a priority growth market for Aldar, and we will continue to increase our presence across key real estate asset classes. Buoyed by the progress we have already made in the residential and logistics sectors in the emirate, we are excited to develop what will be an iconic commercial property adjacent to one of the UAE’s key business centers. Through this project, we are not only bringing our development expertise to bear, but also providing the commercial space that is needed to cater to the growing demand from new market entrants and incumbent businesses eager to relocate.”
In line with its diversification strategy, Aldar has also signed an agreement to acquire “6 Falak”, a newly constructed Grade A office building situated in Dubai Internet City (DIC) from Sweid & Sweid. The building which was completed in March 2024 is one of the DIC’s highest quality properties with a net leasable area of 9,100 sqm.
The fully occupied property is one of the area’s last freehold plots and is currently home to number of tenants including Roland Berger, Merck, and IFS. The deal is expected to be finalized in the coming weeks, subject to final regulatory approvals.
In the last two years, Aldar has grown significantly with 13 operational assets across a total NLA of over 465000 sqm and occupancy of 97 percent.
