Aldar taps Waha for leasable warehouse space: Abu Dhabi-based real estate developer Aldar Properties has acquired warehousing and light industrial assets in Abu Dhabi’s Almarkaz Industrial Park from Waha Capital for AED 530 mn, according to an ADX disclosure (pdf). The acquisition will add nearly 182.5k sqm in net leasable space to Aldar’s growing warehouse assets in special economic zones.

The assets in question: Aldar’s new assets are nearly at full occupancy — hosting international, regional, and government tenants. “Our logistics platform continues to grow across Abu Dhabi and Dubai capitalising on demand for well-located premium logistics and industrial space,” Aldar’s CEO Jassem Salah Busaibe noted.

Aldar got its sight on the growing logistics sector: The real estate developer announced plans to pour AED 1 bn (c. USD 272 mn) to expand its logistics sector operations in Dubai and Abu Dhabi — a sector that it only entered in 2022. The new acquisition adds to Adlar’s growing logistics portfolio, which last year alone onboarded three major projects:

  • The firm is developing logistics facilities in Dubai South under a new JV agreement. The facility is set to include build-to-lease and build-to-suit facilities for tenants, including third-party logistics (3PL), e-commerce, and retail. Recently, Aldar beganconstruction on a cold storage and distribution facility for Emirates Snack Foods (ESF) in Dubai South’s Logistics District.
  • The developer acquired 7 Central Logistics Hub from steel supplier Seven Seas Steel Industries and an adjacent plot in the Dubai Investment Park (DIP). Once developed, the gross leasable area at the hub will be doubled to 38k sqm.
  • Aldar inked an agreement with DP World to develop a 144k sqm Grade A logistics park at National Industries Park (NIP) in Jebel Ali. The project will open for tenants in 4Q 2025.
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