Aldar Properties (Aldar) and Mubadala Investment Company (Mubadala), an Abu Dhabi sovereign
investor, 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
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 percent ownership, while Mubadala will hold a 40 percent
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.
Khalifa Al Romaithi, Executive Director of the UAE Real Estate Unit at Mubadala’s UAE Investments
platform, said: “This acquisition builds upon Mubadala’s history and steadfast commitment to the
growth and advancement of Abu Dhabi’s real estate market, and the city’s transformation into one of
the world’s most desired places to live, work and visit. Mubadala is the master developer of Al
Maryah Island, and we are confident in Aldar as the real estate champion with the right operational
expertise to position ADGM and Al Maryah Island as the most desirable destination in the region for
business, leisure, and entertainment.”
Jassem Saleh Busaibe, Chief Executive Officer at Aldar Investment, said: “The demand for Grade A
office space in Abu Dhabi continues to grow, and we have seen this first hand at ADGM, where
occupancy has now reached almost 90 percent across the four office towers acquired earlier this
year. The addition of Al Maryah Tower to our commercial portfolio allows us to meet this growing
demand head-on, while also building scale and driving the efficiency of our recurring income
Al Maryah Tower is set to welcome its first tenants in 2023, offering a blend of single and multi-
tenant office space across more than 32,000 sqm of NLA. The joint venture parties will also take
ownership of the car park, with over 1,000 spaces, and a parking ratio significantly higher than the
municipal average at 1:31 sqm, setting it apart and offering a competitive advantage relative to other
prime Grade A office properties in Abu Dhabi.
Al Maryah Tower benefits from an attractive location on Al Maryah Island and is adjacent to ADGM,
Cleveland Clinic, Galleria Mall as well as several hospitality assets. To further enhance connectivity
to nearby amenities, there are plans to build a bridge connecting the tower to Galleria Mall, allowing
easy and direct access to a full suite of F&B, retail, and leisure options.
Launched in October 2015 on Al Maryah Island, ADGM is the Abu Dhabi’s international financial
centre and the only financial free zone in Abu Dhabi that enables occupiers to conduct both onshore
and offshore businesses. ADGM’s three independent authorities, the Registration Authority (RA), the
Financial Services Regulatory Authority (FSRA), and ADGM Courts, together ensure that its
business-friendly environment operates in line with international best practices recognised by major
financial centres worldwide.
This year has been Aldar’s most active year in terms of capital deployment as the company
continues to scale its platform and execute its transformational growth strategy. Following the
acquisition of Al Maryah Tower, Aldar’s total capital deployment into recurring income assets over
the year to date amounted to AED 7.4 billion.