Aldar Properties (Aldar) and Mubadala Investment Company (Mubadala) have partnered to acquire Al Maryah Tower, a prime Grade A commercial office property located on Al Maryah Island, Abu Dhabi's premium lifestyle destination and international financial centre. The transaction reflects Mubadala's collaborative approach to driving the growth of Abu Dhabi's real estate market and provides Aldar with control of all Grade A office space at Abu Dhabi Global Market following the recent acquisition of four commercial towers from Mubadala in July 2022. The deal strengthens the partnership between the two companies as they work to bolster Abu Dhabi Global Market's burgeoning business ecosystem, enhance its competitiveness, and attract world-class, internationally recognized businesses to its thriving community.

Aldar will hold the controlling stake with 60% ownership, while Mubadala will hold a 40% stake. The asset will be managed by Aldar Investment Properties ("AIP"), the region's largest institutional-class real estate platform, taking its total Net Leasable Area (NLA) across its portfolio to 2 million sqm. The acquisition, which is valued at AED 450 million, aligns with Mubadala's role in the economic transformation and diversification of the UAE and its role in developing the capital's real estate sector and Abu Dhabi's international financial centre on Al Maryah.

It also further expands Aldar's portfolio of commercial assets to accommodate rising occupancy and demand for Grade A office space in the international financial centre. The 25-storey tower is adjacent to Aldar's four commercial towers at ADGM and adds further weight to the company's growing commercial portfolio.