Abu Dhabi’s largest developer, Aldar Properties, has announced plans to invest $1.4 billion in constructing a range of income-generating assets within key destinations in Abu Dhabi. The commercial, retail, and hospitality assets will be included in the company’s investment portfolio and will be delivered in phases between 2025 and 2027.
Aldar’s commercial net leasable area will increase by 31% to 549,000 square meters, with new commercial assets to be built at Yas Island, Saadiyat Island, and Al Maryah Island. The company will start construction on a new 12-story office tower on Yas Island, located next to the Yas Plaza Hotels. The development is expected to be completed by 2025.
Aldar will also establish a business park at Saadiyat Grove, an integrated mixed-use development on Saadiyat Island, with four Grade A commercial office buildings scheduled for completion in 2027. A second Grade A commercial tower will be built on Al Maryah Island in partnership with Mubadala, which will be added to the site of the 37-story office building announced in 2023.
Additionally, Aldar is developing 78,000 sqm of NLA at Saadiyat Grove, including a central shopping destination, two retail boulevards, and community retail spaces. Once completed, the office and retail assets will be added to the Aldar Investment Properties (AIP) portfolio, which houses the company’s AED 25 billion of income-generating real estate assets. As more international firms establish their offices in the UAE, the limited availability of high-quality office space will result in upward pressure on rental rates in the short term, according to property consultancy JLL.
