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 assets will provide Aldar with nearly 182.5k sqm in net leasable space in a special economic zone.

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About the assets: 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 has been expanding its logistics portfolio: The developer announced plans to pour AED 1 bn (c. 272 mn) into the expansion of its logistics operations in Abu Dhabi and Dubai last year. It onboarded three major projects last year:

  • The developer acquired 7 Central Logistics Hub from steel supplier Seven Seas Steel Industries and an adjacent plot in the Dubai Investment Park (DIP);
  • 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 is slated to open for tenants in 4Q 2025;
  • The firm is also developing logistics facilities in Dubai South under a new JV agreement.
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