RIYADH: UAE’s Aldar Properties signed an agreement to acquire four prime towers in Abu Dhabi Global Market for 4.3 billion dirhams ($1.17 billion) from Abu Dhabi wealth fund Mubadala.
The transaction will bring Aldar's total capital deployment into recurring income assets in 2022 to over 7 billion dirhams, Mubadala said in a statement.
The transaction includes the four main office towers in ADGM located on Al Maryah Island — Al Sila, Al Sarab, Al Maqam, and Al Khatem — with a total net leasable area of 180,000 sqm, it said.
Mubadala Investment Co. is a sovereign investor in the UAE and abroad that generates sustainable returns for its shareholder, the Abu Dhabi government.
It holds a 25 percent stake in Aldar as a founding shareholder.
