Aldar expands logistics portfolio with two warehouse acquisitions: Real estate Aldar Properties acquired two industrial logistics assets from AD Ports Group for AED 570 mn, according to a disclosure (pdf). The facilities — based in Kezad — are occupied by Noon and Emtelle under a 50-year Musataha land lease. The income generated from the transaction will be applied to reduce AD Ports Group’s outstanding debt, a separate disclosure (pdf) said.

Property details: The facilities consist of two Grade A assets, spanning a total of 136k sqm. The 115k sqm warehouse occupied by Noon is the UAE’s largest e-commerce fulfilment center, while the other facility is the Emtelle-run plant for fibre optic ducting and pre-connectorized solutions and spans 21k sqm.

Aldar is expanding its logistics footprint: Aldar Properties pledged to pour AED 1 bn in new logistics assets back in January. The firm purchased warehousing and light industrial assets in Abu Dhabi’s Almarkaz Industrial Park from Waha Capital for AED 530 mn earlier this year, and is developing logistics facilities in Dubai South under a new JV agreement.

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